Long-term holders (LTHs) of bitcoin now own a record 14.52 million BTC, according to blockchain data provider Glassnode, leaving just 25% for short-term holders and speculators. This accumulation spree has occurred despite bitcoin's price remaining relatively flat over the past month, fluctuating between $29,000 and $31,000.

The growing interest in bitcoin can be attributed to numerous applications from financial giants such as BlackRock, Invesco, WisdomTree, and VanEck, all of which have filed to launch a spot BTC ETF in the US in recent weeks. Interestingly, LTHs have not always increased their holdings during bullish times, accumulating a significant portion of BTC between summer 2022 and the end of last year, when bitcoin's price crashed below $16,000.