Long-Term Holder

A Bitcoin cohort classification for wallets that have held their coins for 155 days or more — generally considered the most conviction-driven, price-insensitive segment of the Bitcoin market.

On-chain analysts classify Bitcoin holders into cohorts based on how long their coins have remained unspent. The most common definition places the long-term holder (LTH) threshold at 155 days — coins that haven't moved in over five months. This cutoff is supported by statistical analysis showing that coins held this long have a dramatically lower probability of being spent at current prices, regardless of market conditions.

Long-term holders are considered the "diamond hands" of the Bitcoin ecosystem — they have demonstrated willingness to hold through volatility and typically purchased during earlier, lower-priced periods. Monitoring LTH behavior provides important cycle signals. When LTHs begin spending their old coins (distributing to new buyers), it often coincides with late-cycle bull market tops. When LTH supply reaches a maximum (most coins are being held long-term), it typically indicates a bear market floor — experienced holders are accumulating rather than selling.

The LTH supply metric and the LTH realized price (the average cost basis of these holders) are among the most closely watched on-chain metrics by institutional Bitcoin analysts. LTHs collectively hold the majority of Bitcoin supply and their behavioral patterns have shown remarkable consistency across multiple market cycles.

This definition is for informational and educational purposes only. Nothing on Finance Compass constitutes financial, investment, or trading advice. Always conduct your own research and consult a qualified professional before making financial decisions.