Bitcoin held by long-term investors passes 4 million as activity signals possible bull phase
New data shows that more Bitcoin is moving into long-term investor wallets, a trend that could point to the start of a bullish phase. In the first quarter of 2026, the amount of Bitcoin held by these investors rose above 4 million BTC.
According to data from CryptoQuant, wallets that steadily accumulate Bitcoin now hold about 4.37 million BTC. This is a big jump from around 2 million BTC in early 2024, showing strong and steady buying over time.
Retail-linked wallets added about 857,000 BTC, while other steady accumulation wallets grew to 1.29 million BTC. This growth happened even though Bitcoin’s price stayed below $70,000 during the quarter.
At the same time, Bitcoin flowing into exchanges and highly active wallets has slowed down. In earlier market uptrends, inflows were often above 1.2 million BTC, but recently they have dropped to around 300,000–350,000 BTC.
This shift suggests fewer coins are being traded and more are being held for the long term. With less Bitcoin available on exchanges, the liquid supply is tightening, which can support prices.
The trend is also supported by rising network activity. CryptoQuant’s Bitcoin network activity index recently climbed to 3,600, moving above its long-term average for the first time since late 2024. This is considered a signal that the network may be entering a “bull phase” again.
However, not all signals are strong. The number of active Bitcoin addresses remains low, showing that fewer new or short-term users are entering the market. Recent data shows activity levels at their lowest point in years.
This suggests that the current market is being driven mainly by long-term investors quietly accumulating Bitcoin, rather than by widespread public interest.
In the past, similar periods of low activity and steady accumulation have often come before price increases, as selling pressure stays low and supply becomes more limited.
Featured image from: cointelegraph.com