Bitcoin LTH Spending Rises to 0.43, Hinting At a Price Top

Glassnode has recently reported on the behaviour of long-term Bitcoin holders (LTH), noting a major reversal trend for the 2nd time in May this year.

According to an X post by Glassnode dated May 14, 2025, LTH grew to 14.29 million BTC after reaching 13.66 million BTC in mid-March 2025

#Bitcoin's LTH supply rose from 13.66M $BTC in mid-March to 14.29M $BTC, but recently ticked down again for the second time in May. LTH spending has also picked up to 0.43. These inflections can escalate quickly, often front-running local market tops – worth watching closely. pic.twitter.com/xqN0MkiOWS

— glassnode (@glassnode) May 14, 2025

Similarly, there has been a noticeable increase in LTH spending, which is the amount of Bitcoin moving out of these long-held wallets. It grew to a significant value of 0.43.

It is worth noting that when LTH spending reaches such a level, it is often expected that the Bitcoin price may be approaching a local high or a new top. Simply put as when this pattern is observed, there are higher chances of higher sales from these wallets, which ultimately initiate a sudden decline in prices

Some other experts argue that, since the past few quarters, Bitcoin has seen an inflow of billions, and the prices have been primarily driven by institutional investors

Replying to X post of Glassnode, Alva wrote, “ Long-term holders are still stacking, nearing record supply, but we’re finally seeing some uptick in spending—classic prelude to local tops if it accelerates. Historically, when profit margins hit 350% (near $99.9k), these guys start dumping with force, so we’re close to a critical area.”

Long-term holders are still stacking, nearing record supply, but we’re finally seeing some uptick in spending—classic prelude to local tops if it accelerates. Historically, when profit margins hit 350% (near $99.9k), these guys start dumping with force, so we’re close to a…

— Alva (@AlvaApp) May 14, 2025

Continuing, “ On-chain, both LTH and STH wallets switched to net accumulation after a period of selling, showing conviction, but risk is up as capital inflows lag previous bull runs. Want to dig deeper into historical inflections and LTH signals?”

According to data from CoinMarketCap, Bitcoin saw a lowest mark of $49,121 and traded highest at $109,114.88. Yet in the past 30 days, BTC traded highest at $105,747 and lowest at $83,100.

Bitcoin price brief

Until publishing, Bitcoin was exchanging hands at $102,329 with an intraday loss of 1.33% in the same frame; its highest traded price was $104,303 and lowest at $102,338

2025 has been a lucky year for Bitcoin as it recorded its all-time high of 109,114 on January 20, 2025. The decline in BTC prices has been mimicked by trading volume, which fell more than 11.50%, reaching $44.27 billion, and the market cap was $2.03 trillion, with a loss of 1.33%.

Despite the intraday losses, Bitcoin prices are still above 20, 50, 100, and 200-day exponential moving averages. Per technical indicators, if Bitcoin continues to move forward with a similar pace in a week, it is expected to cross milestones of $108,420, followed by $124,892 and $151,555.

However, its visible supports are below $80k in the same frame, and the relative strength index is 62.46 neutral. Data available on TradingView states that Bitcoin currently holds 62.68% of the market, which is down by 4.50% in a week and 1.58% in the past 30 days.