K33: Long-term Bitcoin holders own 79% of the circulating supply, suggesting the bear market may be ending

PANews, June 17: According to The Block, research firm K33 noted in its market report that Bitcoin has rebounded after two consecutive weeks of double-digit declines, with the amount held by long-term holders reaching an all-time high—potentially signaling the end of the bear market. A notable feature of the 2024–2025 cycle has been the large-scale reactivation of old Bitcoin holdings, which may be sold as prices hit new highs. In contrast, in 2026, the number of Bitcoins reactivated after two or more years has been unusually low, with only 218,421 BTC reactivated as of June 6, indicating a significant reduction in on-chain selling pressure. Research Director Vetle Lunde stated that the decline in transactions involving older coins suggests reduced willingness among long-term holders to sell, as patient participants are steadily absorbing supply—further indicating that the bear market may be nearing its end.