Bitcoin Longs at Highest Since 2023, But Spot Demand Weakens—What’s Next?
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Bitcoin traded above $77,000 as long-term holder (LTH) inflows jumped to nearly 470,000 BTC from March–May 2026 while the price recovered in the $75,000–$80,000 range. But whales moving BTC back to exchanges after buying near $78,000, miner caution and ETF outflows point to rising selling pressure and weak spot demand, keeping downside risk near key support levels.
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- Bitcoin trades above $77K as LTH inflows rise, but spot buying remains weak in markets.
- Whales shift BTC back to exchanges after buying near $78K, raising selling pressure now.
- Miner caution and ETF outflows keep Bitcoin downside risk active near key support levels.
Bitcoin traded above $77,000 on Thursday as market sentiment improved on hopes of a possible U.S.-Iran peace deal. However, CryptoQuant data showed a divided market, with long-term holders, whales, miners, derivatives traders, and ETF investors sending mixed signals.
CryptoQuant data showed a sharp rise in the Long-Term Holder Supply Inflow metric between March and May 2026. The metric reached nearly 470,000 BTC as the price recovered near the $75,000 to $80,000 range.
Source: CryptoQuant
Bitcoin Longs Rise as Spot Demand Weakens
According to analysts, such movement points to stronger activ…
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