Woofun AI reports that Long-Term Holders currently control approximately 15.6 million BTC, equating to roughly 78% of the circulating supply, a proportion that continues to expand. Analyst Darkfost projects this figure could reach 16.8 million BTC by December 2023, noting that previous large-scale distributions by LTHs significantly influenced market tops in this cycle.

The current surge in LTH metrics corresponds to BTC acquired around $90,000 six months ago, which has now satisfied the UTXO-based six-month holding requirement.

This shift indicates that inflows into long-term status currently exceed sales, rather than confirming active accumulation. If the ratio climbs further in August, it will signal that coins purchased below $60,000 in February are entering LTH status, offering insight into whether the earlier downturn generated sustained demand.