Long-Term Bitcoin Holders Reduce Supply as Futures Activity Surges and Price Consolidates

By: blockchainreporter|2025/05/05 19:15:58
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Long-term Bitcoin holders reduced 250K BTC as prices surged past $90K.Bitcoin futures open interest hit $60B, signaling rising leverage and market risk.Intraday volatility on May 4 hints at liquidations amid shallow recovery attempts.Bitcoin’s price strength through early 2025 is being driven by changing behavior among long-term holders and increasing speculative activity in derivatives markets. According to on-chain data from Glassnode, long-term holders (LTHs) have reduced their supply by approximately 250,000 BTC since October 2023. The shift has coincided with a sustained rise in Bitcoin’s price, which recently climbed past $90,000 before facing intraday volatility.Long term holders are accumulating Bitcoin at record pace. We are going so much higher! pic.twitter.com/KXuRncszfj— Crypto Rover (@rovercrc) May 4, 2025The decline in LTH supply began in late 2023, shortly after Bitcoin’s price started climbing. The reduction indicates that long-term investors who had accumulated BTC during previous cycles began offloading assets during the price rally. Data shows a clear inverse relationship between price and LTH holdings. While the BTC price (black line) continued to surge, the LTH supply (orange line) declined steadily.The LTH supply peaked around October 2023, marking the end of an accumulation phase. Since then, the market has seen a redistribution of holdings. By March 2025, Glassnode identified a renewed “Accumulation Zone” as strategic investors began re-entering the market. This change suggests that a new wave of buyers is replacing early profit-takers amid price consolidation.Spot Market Records Modest Decline on May 4On May 4, 2025, Bitcoin’s price action showed signs of intraday instability. The asset dropped by 0.77% to close at $95,456.87 after briefly touching $96,200 earlier in the session. CoinMarketCap data indicates that Bitcoin’s market capitalization fell slightly to $1.89 trillion, while 24-hour trading volume declined 8.09% to $15.81 billion.Source: CoinMarketCapIntraday charts also indicated huge swings between 2:00 AM UTC and 12:00 PM UTC demonstrating possible liquidation events or sudden repositioning of derivatives positions. Attempts at upward recovery remained shallow through the day, yet temporary support was around $95,200.Currently, circulating supply of Bitcoin is at 19.86 million and is close to hard cap of 21 million. The broader institutional demand and continued activity around spot Bitcoin ETFs contribute to a fully diluted valuation (FDV) of $2 trillion.BTC Futures Open Interest Approaches Peak LevelsThe Bitcoin derivatives market continues to register heightened engagement. As for March 2025, Coinglass shows futures open interest dully exceeding $60 billion, which is close to all time highs. It demonstrates that BTC price and open interest were also parallel increasing since October 2024 when the first breakout was made above $35,000.Between August to December 2023, open interest was low below $15 billion. Early 2024 surge was due to the momentum lag created by ETF approval continuing combined with what the numbers paint of improving macroeconomic conditions. This represents how institutions are hedging and trader speculation of Bitcoin’s price realization.Source: CoinglassA rising open interest is often seen as a vote of confidence in the market, but it does surely increase the potential downside risk. The high leverage levels also mean corrections on prices if liquidation cascades happen. Funding rates and macroeconomic indicators are closely watched by analysts in order to determine how much the current leverage can be sustained.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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