K33: Bitcoin supply held by long-term holders hits record high bear market or is coming to an end

Crypto research firm K33 said the supply of Bitcoin held by long-term holders hit a record high, indicating that the bear market may be coming to an end. K33 said that the reactivation activity of old coins in 2026 was significantly sluggish. As of June 6, only 218,421 bitcoins had been reactivated, indicating that the selling pressure on the chain had been significantly reduced; in contrast, 1,180,000 bitcoins had been reactivated in the same period in 2024. K33 believes that the decline in old currency activity indicates that long-term holders are less willing to sell, and patient participants are continuing to absorb supply.