The Long-Term Holders (LTHs) remain unfazed by the recent market rally, as their total holdings have reached a new all-time high at 14.899 million BTC. This steady increase in holdings indicates that a significant amount of supply has crossed the 155-day holding threshold without being spent.
Around 29.6% of LTH supply is currently held at a loss, which is historically high considering the strong market uptrend seen since the 2022 lows. This situation is reminiscent of the late 2015 and early 2019 periods, as well as the March 2020 bottom.
This suggests that the LTH cohort may be more resolute and less inclined to sell compared to previous market cycles.