Steady Bitcoin Climb: Is BTC on the Verge of Another Bull Run?

Steady Bitcoin Climb as ETF Inflows Surge: What’s Driving the Momentum?

After rising 14% in April, Bitcoin (BTC) has now increased 3% since the start of May. Additionally, during the last two weeks, inflows into Bitcoin ETFs have increased, and the market is still being supported by steady bitcoin treasury accumulation.

Glassnode Data Shows Surge in Bitcoin Holdings: What’s Driving Investor Confidence?

Both short-term holders (STHs) and long-term holders (LTHs) have expanded their supply holdings from an on-chain standpoint, according to Glassnode data. LTHs have been holding more since early March, while STHs have only been starting to accumulate for the past week. Since the beginning of March, LTHs have boosted their holdings by more than 250,000 BTC, bringing the cohort’s total supply to over 14 million BTC, according to Glassnode’s most recent weekly report.

This suggests a degree of confidence has returned, and accumulation pressures are outweighing the propensity for investors to spend and de-risk, 

Glassnode

Bitcoin Investors Confident Again: 25,000 BTC Added, Pushing Bitcoin Toward $97,000

Over 25,000 BTC have been added in the last week, indicating that STHs, who frequently act against LTHs, are also displaying signs of renewed accumulation. This represents a reversal from the roughly 200,000 BTC net payout that started in February 2025, when the 30% downturn in bitcoin started.

With Bitcoin presently hovering around $97,000, this widespread accumulation suggests that investor confidence has returned. Glassnode data, however, also shows a significant resistance mark at $99,900, where long-term holders may start to realize profits once they start to hold a +350% unrealized profit margin.

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