"Bitcoin long-term holders net-buy 800,000 BTC in a month...Possible support around 95k"

Investors holding Bitcoin (BTC) for the long term have purchased 800,000 coins over the past month, increasing the likelihood of a major support zone forming around the $90,000 range, according to analysis.

On the 27th (local time), the cryptocurrency-focused media outlet Cointelegraph cited a report from on-chain analytics firm CryptoQuant, stating, "In the past 30 days, the amount of Bitcoin held by long-term holders (LTH) has increased by 800,000, reaching an all-time high." LTH typically refers to investors who hold for more than six months and is considered an indicator reflecting mid- to long-term market confidence.

On the same day, CryptoQuant analyst Darkfost noted, "The average purchase price for Bitcoin that recently entered LTH wallets is distributed between $95,000 and $107,000," adding, "This price range could serve as a key support zone for the medium to long term."

Meanwhile, the average purchase price for short-term holders (STH) was around $99,000. On-chain analytics firm Glassnode noted in its report, "While Bitcoin corrected down to $98,000, that range acted as support." It also stated, "The $93,000 to $98,000 band could serve as a short-term defense. If this support breaks, stop-loss selling could increase and lead to deeper price corrections."