PANews, June 17 – According to The Block, research firm K33 noted in a market report that Bitcoin has rebounded after two consecutive weeks of double-digit declines, with the amount held by long-term holders reaching an all-time high, potentially signaling that the bear market may be nearing its end.

A notable characteristic of the 2024–2025 cycle is that a large amount of old Bitcoin has been reactivated and may be sold off as prices hit new all-time highs. In 2026, however, the number of Bitcoins aged two years or more being reactivated is unusually low, with only 218,421 BTC reactivated as of June 6, indicating a significant reduction in on-chain selling pressure. Head of Research Vetle Lunde stated that the decline in old coin transaction activity suggests a reduced willingness to sell among long-term holders, with patient participants steadily absorbing supply, further indicating that the bear market may be drawing to a close. “Supporting this view, 79% of Bitcoin’s circulating supply is currently held by long-term holders — an all-time high — reflecting continued accumulation and a gradual shift in the market environment toward a more positive direction.”