The price of Bitcoin appears to be set Another round of pain over the weekend after falling below the psychological level of $75,000 on Saturday morning. However, the leading cryptocurrency has recovered somewhat and is looking to reclaim $77,000 as of this writing. At the same time, an increase in supply from long-term Bitcoin investors was also observed during the day, although the signal may not be what it seems.
This is why the BTC LTH supply data is skewed
In a recent post on Platform X, the analyst with the pseudonym Darkfost said open An increase in the supply of Bitcoin held by Long Term Holders (LTH) over the past few days. However, this supposed spike in LTH activity may not be as relevant to BTC growth as the data usually suggests.
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Highlighting data from CryptoQuant, Darkvost shared that the supply of long-term Bitcoin holders has increased from 15 million to 15.8 million BTC over the past two days. The on-chain analyst noted that this metric is among several data points affected by Coinbase’s move of nearly 800,000 BTC in November 2025.
Between November 22 and 23, the US-based cryptocurrency exchange shuffled 800,000 Bitcoin (worth approximately $70 billion at the time) between its internal wallets. As Darkfost reported, this maintenance move destroyed old LTH UTXOs (unspent transaction outputs) and created new but skewed Bitcoin datasets.
Cryptocurrency analyst wrote on X:
As a result, datasets across multiple platforms have consolidated this movement, impacting UTXO-based metrics, age and value combinations, STH/LTH cost basis, realized value, volumes, and more.
Saturday, May 23 marked six months since the Bitcoin transfer, with the transferred Bitcoin now fully transitioned from short-term holder (STH) to long-term holder supply.
An increase in LTH supply typically results in increased accumulation and increased conviction among more Experienced crypto investors. However, market participants may want to be cautious when making decisions regarding this on-chain signal, considering that it actually reflects an increase in investor demand.
What’s next for Bitcoin price?
And in a separate blog post on the X DarkFost platform It has been identified The next major resistance level for Bitcoin price. Highlighting STH’s cost basis, the analyst said this resistance currently lies just above the $80,000 mark.
According to Darkfost, short-term investors appear to be choosing to cut their losses rather than wait for a reversal, as evidenced by the resistance the Bitcoin price is facing on an average cost basis. Hence, the major cryptocurrency needs a sustained breakout above the $80,000 ceiling for the recovery journey to continue.
As of this writing, BTC is worth around $76,490, reflecting a 1% price increase over the past 24 hours.
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Featured image from iStock, chart from TradingView
