Bitcoin Long-Term Holder Supply Hits Record as Price Slips Below $75,000
Bitcoin's long-term holder count reached a record 15.8 million, according to XWIN Research Japan, even as the asset traded near $74,000 after losing the $75,000 level. Analysts at XWIN argue the pattern points to a demand shortfall rather than heavy selling.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
Record Holder Count Amid Falling Prices
Bitcoin has recorded 15.8 million long-term holders, a new high, according to XWIN Research Japan, which published its analysis in a QuickTake post on May 30. The count rose even as the asset fell roughly 9% from its May 6 peak near $82,000. Long-term holders are generally defined as addresses that have held Bitcoin for more than 155 days.
The two source reports describe the price backdrop differently. NewsBTC says Bitcoin was trading near $74,000 with stable 24-hour price action, down 3.45% on the week and 3.95% on the month. Bitcoinist reports a sharper move, saying Bitcoin had lost the $75,000 level as selling pressure intensified and that the confidence built during the recovery from April lows had been erased. The reports agree on the level near $74,000 to $75,000 but differ on whether the recent move reflects stabilization or accelerating selling.
Why a Rising Holder Count Is Ambiguous
A larger long-term holder base is usually read as a bullish sign, since these holders are generally non-reactive and their growth signals conviction. XWIN analysts caution that healthy bull markets are typically driven by new buyers absorbing coins from existing holders. A rising holder count without that transfer of supply can instead point to insufficient demand, which XWIN says may explain the recent price weakness.
Bitcoinist frames the same data as a challenge to a widely held assumption: that holder accumulation automatically lifts price. Both reports cite XWIN's view that the market is in a demand-recovery phase, not a distribution phase.
Demand Across Investor Cohorts
XWIN's cohort data shows the demand gap is broad. Addresses holding 1,000 to 10,000 BTC, commonly called whales, have stalled and are heading toward a year-over-year decline. Addresses holding 100 to 1,000 BTC, which XWIN says include institutional investors and ETF issuers, have also declined since early 2025. XWIN concludes that the shortfall is in demand rather than in sell-side pressure, and that recovery depends on institutional flows, whale accumulation and broader network participation resuming.
Projected Range for June
CryptoPredictions data cited by NewsBTC projects Bitcoin closing June near $71,102, with an estimated monthly high of about $84,961 and low of about $57,774. These are model projections, not forecasts endorsed by the reporting outlets, and the width of the range reflects the uncertainty in the current picture.
Why It Matters
For Traders
Bitcoin's loss of the $75,000 level and the projected June range of roughly $57,774 to $84,961 make near-term levels around $74,000 worth watching closely.
For Investors
Record long-term holder counts alongside declining whale and institutional cohorts suggest the next leg of price depends on new demand entering the market.
For Builders
Holder-cohort metrics are diverging from price, so products relying on accumulation signals as a proxy for market strength should account for demand gaps.
This article is for information only and is not financial advice. Read the full disclaimer.
