Post-Halving Bitcoin Phenomenon: Long-Term Investors Are Stocking Up Again – Is Another Rally on the Horizon?

If you’ve been involved with Bitcoin for a significant period, you’re likely aware that it transitions through cycles, with the halving cycle being a major factor. The halving occurs approximately every four years, stopping the block rewards and historically initiating substantial price movements. However, the critical aspect lies not solely in the halving itself but in the actions taken by holders before and after the event.

Currently, long-term holders, those retaining their BTC for between three to five years, are subtly increasing their stock. According to Glassnode, after offloading over 2 million BTC in two major waves earlier in the current cycle, these holders are now in deep reaccumulation mode.

Across the 2023–25 cycle, Long-Term Holders have distributed over 2M $BTC in two distinct waves. Yet, each has been followed by strong re-accumulation, helping absorb the sell-side pressure. This cyclical balance may be stabilizing price action. pic.twitter.com/HAOZhG4q8o — glassnode (@glassnode) March 31, 2025

Since mid-February, these holders have collectively added approximately 363,000 BTC back into their wallets, signaling that they are not traders seeking quick gains but rather strategizing for the long term.

Whales Intensify Accumulation Efforts

Meanwhile, wallets holding over 1,000 BTC, known as whales, are also expanding their stakes. At the start of April, Glassnode’s “accumulation score” for these large wallets reached a perfect 1.0, demonstrating a robust buying interest for about two weeks.

Whales holding >10K $BTC briefly hit a perfect accumulation score (~1.0) at the turn of the month, reflecting intense 15-day buying. The score has since eased to ~0.65, still indicating steady accumulation. pic.twitter.com/7udA7G8nSM — glassnode (@glassnode) April 7, 2025

Though this score has slightly declined, it still reflects significant accumulation compared to average levels. This trend often indicates that coins are transitioning from short-term holders to more established, long-term investors. It’s uncertain whether this is preparation for a bull run or a way to hedge against market volatility, but it’s apparent that major players view current prices as opportunities.

Short-Term Holders Display Caution After Bitcoin Halving

On the contrary, short-term holders, those who have owned BTC for just a few weeks to six months, are exhibiting more cautious behavior. Traditionally, this demographic tends to sell every 8–12 months, particularly during market waves. Presently, their spending habits are at the lower end of this historical range, indicating a reluctance to sell.

Market Sentiment Exhibits Underlying Uncertainty

Overall market sentiment is also a crucial factor. The CoinMarketCap Fear & Greed Index has remained in “Fear” and “Extreme Fear” for several weeks, suggesting that the average investor sentiment has not aligned with the ongoing accumulation trends.

Looking Ahead: Potential for Continued Growth

As we look forward, the combination of long-term holders and whales accumulating more BTC sets the stage for potentially stronger price actions, provided sentiment shifts and short-term holders gain confidence in market conditions. The halving has occurred, and now we await the next market phase.

Key Takeaways

• Long-term Bitcoin holders have resumed accumulation, adding over 363,000 BTC since mid-February after earlier sell-offs.
• Whales with 1,000+ BTC exhibited peak accumulation in early April, indicating confidence in the current price zone.
• Short-term holders are demonstrating caution, with low spending activity, but may trigger downside if panic selling begins.
• Market sentiment remains in “Fear” territory, indicating investor uncertainty despite strong on-chain accumulation trends.
• With halving completed and accumulation on the rise, the stage may be set for the next bullish phase—once sentiment and momentum align.