Bitcoin LTH Realized Supply Converges to 12.17M BTC, Approaching Historical Bottom Levels

BTC-0.12%
According to CryptoQuant analyst Axel Adler Jr., on June 22, Bitcoin's long-term holders (LTH) realized supply has converged to 12.17 million BTC, approaching historical levels seen during market bottoms, having surged over 100% in the past year. The current level remains below previous bear market capitulation phases: approximately 15 million BTC in late 2015, 16 million BTC in 2018–2019, and 19.7 million BTC in 2022–2023. Meanwhile, the liquidation pressure indicator has remained inactive for 1,256 consecutive days, marking the longest silence on record since January 2023, suggesting an absence of classic capitulation-style selling.
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