BTC long-term holdings increase during the pullback, indicating a shift away from short-term traders.

According to ME News, on September 8 (UTC+8), CryptoQuant analyst Darkfost noted a positive on-chain signal during the minor pullback following the breakout above $80,000: the proportion of Bitcoin’s native supply held by long-term holders (LTHs—those holding for over six months) has significantly increased. The underlying behavior suggests that a large volume of Bitcoin purchased during the pullback has not been quickly resold, but rather held steadily until their holding period naturally exceeds the six-month threshold, transitioning them from the short-term holder group to LTHs. This phenomenon—“buying the dip and holding firmly rather than trading frequently”—typically emerges during bear markets or sharp declines, reflecting reduced trading willingness among market participants and a preference for long-term holding. Darkfost views this shift as positive, as Bitcoin held by LTHs tends to be “heavier” and less liquid, making it less likely to be sold easily. An increase in such holdings helps build a stronger foundational support level below. While this is a positive development on a long-term basis, it is not an immediate signal capable of reversing market trends—bottoms are formed gradually over time. Currently, most market participants believe the bottom zone is gradually taking shape, and this very migration of筹码 (holding structure) is itself part of the bottom-building process. (Source: BlockBeats)