According to on-chain analyst Murphy (@Murphychen888), as of February 26, the net position change of Bitcoin long-term holders (LTHs) continued to rise. Data shows that between February 13 and February 26, 14,127 BTC held by long-term holders were spent, while 19,798 BTC previously held by short-term holders (STHs) were converted into long-term holdings. After offsetting, the net result remains positive, indicating reduced turnover among both long-term and short-term holders. Although market liquidity has decreased, selling pressure has also correspondingly diminished.
Bitcoin long-term holders' net holdings rise as market turnover declines
TechFlowShare
Summary
Bitcoin long-term investing activity increased as of February 26, 2026, according to chain analyst Murphy. Between February 13 and 26, 14,127 BTC from long-term holders were spent, while 19,798 BTC from short-term holders shifted into long-term crypto strategy categories. The net gain indicates lower turnover, suggesting reduced liquidity and decreased selling pressure in the market.
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