Woofun AI data shows that the ratio of long-term to short-term Bitcoin holders has climbed to a 30-month high. This metric tracks the distribution of BTC supply between these two groups. Historical patterns indicate such extreme levels typically emerge during reaccumulation phases rather than at peaks of market euphoria. Bull market tops usually coincide with the decline of this metric from its high, not the formation of the high itself. With BTC trading approximately 50% below its previous historical peak, long-term holders are actively absorbing circulating supply.