Bitcoin’s recent rally has reignited excitement across the crypto space. As the asset hovers near its all-time high, new blockchain analytics point to a major shift in holder behavior and structural market strength.

According to Santiment, a key signal is the decline in the average coin age, which dropped from 441 to 429 days since mid-April. This suggests that long-dormant addresses are beginning to move funds — a trend historically associated with strong bullish momentum.

Analysis of the past five years reveals that each major Bitcoin rally was preceded by a similar decrease in the average age of held BTC. The current decline indicates that long-term whales are returning to the market, lending weight to the idea that we are in a historically significant phase.

Further supporting this, the coin age distribution shows a major rise in short-term activity: BTC held for less than a month surged from 44.6% to 76.9%, while coins held for over six months dropped from 24.7% to just 13.4%. This means long-term holders are largely staying on the sidelines, reinforcing conviction and reducing speculative pressure.

Meanwhile, Glassnode reports that despite the ATH, realized profit remains low — only $1 billion compared to $2.1 billion during the breakout above $100,000 in December 2024. This indicates holders are not rushing to take profits.

According to CryptoRank, Bitcoin’s price movements are now increasingly correlated with macro liquidity trends, especially global M2 money supply. Bitcoin currently ranks as the fifth-largest asset by market capitalization globally.

Together, these signals suggest that the market is entering a deep and sustained bullish phase, potentially one of the most important in Bitcoin’s history.

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