Bitcoin long-term holders are stacking again. The cohort's supply climbed to roughly 15.26 million BTC this week, the highest level since August 2025. Over the past 30 days, wallets classified as long-term holders added about 316,000 BTC — a sharp reversal from the 650,000 BTC sell-off recorded in late November.
Why the accumulation matters now
The 316,000 BTC addition marks the biggest monthly net accumulation in months. Long-term holders typically buy and hold for at least 155 days, so fresh supply entering that bucket signals conviction at current prices. Meanwhile, the gap between exchange inflows and outflows has narrowed for six straight sessions. That pattern has historically appeared around major Bitcoin bottoms since 2019.
Coinbase transfers nearing a milestone
An additional 800,000 BTC moved off Coinbase last year will cross the six-month threshold on May 23, formally entering the long-term holder bucket. That means the official long-term holder figure could jump again next week — assuming those coins stay put.
Fed minutes and a divided FOMC
The Federal Reserve will publish minutes from its April 28-29 meeting on Wednesday, May 20 at 2 p.m. ET. The FOMC held rates at 3.50% to 3.75% for the third straight pause, but four officials dissented — the largest split since 1992. Governor Stephen Miran pushed for a quarter-point cut; Presidents Lorie Logan, Neel Kashkari, and Beth Hammack opposed the statement's easing bias.
Jerome Powell’s term as Chair ended May 15, and Kevin Warsh was confirmed as his successor in a 54-45 Senate vote. Powell stays on the Board of Governors through January 2028. Analysts at Yardeni Research expect the June FOMC meeting to signal a tightening bias, followed by a 25 bps rate hike in July — with possible further increases. Bitcoin trades near $78,047 as of writing, down 0.17% in the last 24 hours.
The timing isn't great for holders looking for a dovish pivot. If the minutes confirm the hawkish dissent was serious, the next few weeks could test whether this accumulation trend holds.
