Bitcoin long-term holders have been reducing their positions for seven consecutive weeks, but this has not yet hindered price increases.

BlockBeats news, October 6 — Analyst Axel Adler Jr. stated that Bitcoin long-term holders (LTHs) have reduced their holdings for seven consecutive weeks, yet Bitcoin's price has continued to rise, indicating that current market demand is still able to absorb this new supply.

Data shows that the long-term holder position change indicator turned negative on August 17 and has remained so since. On September 28, the indicator fell to -73,400 BTC, while a week earlier it was only -1,100 BTC. However, compared with the -1.07 million BTC reached at one point in November 2025, the current scale of reduction is still significantly smaller.

At the same time, the LTH SOPR has been above 1 for two consecutive weeks, recording 1.18 on September 28, meaning that long-term holders' Bitcoin that recently moved realized an average profit of about 18% relative to its cost basis. Axel Adler Jr. believes that long-term holders are currently mainly taking profits during the rise, and what truly warrants caution is a further expansion in the scale of reductions while Bitcoin's price stops rising or even turns downward.