
Long-term Holders Accumulate 3,800 BTC in a Month as Bitcoin Approaches $120K
Long-term cryptocurrency investors have added 3,800 BTC over the past month, signaling bullish sentiment as Bitcoin nears a key resistance level of $120K.
Bitcoin (BTC) is currently trading around $118,600, marking a 4% increase in the past 24 hours and a 6% gain this week. Long-term holders have been actively accumulating, adding over 3,800 BTC to their holdings over the last month.
Analysts’ Attention on Market Trends
Traders are closely monitoring market movements to gauge the next steps.
Increased Accumulation by Long-Term Holders
Analyst Ali Martinez noted that wallets retaining BTC for prolonged periods have increased their holdings by over 3,800 BTC in the last 30 days. Backing this analysis, Glassnode data shows a net increase of 3,890 BTC. This trend follows a selling phase observed in August and early September.
“Long-term holders are accumulating. Over 3,800 Bitcoin #BTC bought in the past month.”
— Ali (@ali_charts) October 2, 2025
Simultaneously, Bitcoin’s price rose from approximately $112,000 to over $118,000, indicating that long-term holders are taking positions as prices increase, reflecting stable market confidence rather than panic-driven actions.
Interestingly, CryptoQuant’s Long-Term Holder SOPR metric, which assesses whether coins are sold at a profit or loss, currently stands at around 1.8, signifying that most long-term sellers are realizing profits. Throughout the year, this metric has maintained above 1, illustrating that holders are not compelled to sell at a loss.
Price Movements and Key Levels
Further analysis by Rekt Capital shows Bitcoin surpassing the $117,300 mark, a level that signifies potential breakout points, with traders optimistic about crossing the $120,000 threshold.
If Bitcoin can replicate the earlier mid-July price patterns with a daily close above approximately $117.3k, traders anticipate a swift journey toward the $120k milestone.
With a new month commencing and a breakout observed, analysts remain alert for indications of sustained strength in the market.