Richard Teng, CEO of Binance, shared a simple chart. Two lines. One tracks Bitcoin (BTC) price. The other tracks long-term holder supply. Together, they reveal a pattern that has played out across cycles.
When price surges fast, long-term holders sell. They take profit. The yellow line falls. When price cools, they return. They buy back. The line rises again. That cycle may be turning now.
Also Read: Strategy’s Bitcoin Bet: A $14.5 Billion Unrealized Loss in Q1 2026
Bitcoin Long-Term Holders Shift Direction
Through late 2025 and early 2026, BTC moved with hesitation. Price slipped toward the $65,000 to $70,000 range. Volatility stayed high. Confidence looked thin.
During this stretch, long-term holders distributed heavily. Supply dropped. The yellow line fell, just as it has in past rallies.
Then came February 2026. The selling stopped. The data shows a clear bottom. After months of decline, long-term holder supply turned upward. Not slowly. Sharply. A clean hook.
This matters. These are not casual traders. These are seasoned holders. They have seen cycles before. When they stop selling, it signals belief. When they start buying again, it signals conviction. BTC is now in that phase.
Bitcoin Institutions Step in Amid Uncertainty
Price action still looks fragile. According to Glassnode, BTC trades in a tight “negative gamma pocket” between $65,000 and $70,000. Support below is thin. Moves down could be fast if momentum fades.
Yet institutions are not stepping back. They are stepping in. Data tracked by Unfolded shows spot BTC ETFs pulled in $471.3 million in net inflows on April 6 alone. That is not hesitation. That is intent.
Institutions often move when markets feel uncertain. They buy during boredom. During chop. When retail looks away.
Bitcoin now sits in that quiet zone. Sideways price. Low excitement. But under the surface, accumulation builds. The pattern is familiar. Distribution ends. Accumulation begins. Price follows later. Nothing moves yet. But the ground is shifting.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Stablecoin Reserves on Binance Climb After March Inflows Reverse Trend
