LTH Net Change

Definition ∞ LTH Net Change measures the net increase or decrease in the holdings of long-term Bitcoin investors. This metric quantifies the aggregate change in Bitcoin supply held by addresses that have not moved their coins for a significant duration, typically over 155 days. A positive LTH Net Change indicates accumulation, as long-term holders are adding to their positions. A negative value suggests distribution, where these experienced investors are selling their holdings. It serves as a strong indicator of overall market sentiment from seasoned participants.
Context ∞ Crypto news frequently references LTH Net Change to assess the conviction of experienced Bitcoin holders and predict future price movements. Periods of significant positive change often precede bull markets, while substantial negative changes can signal market tops. The current analysis focuses on interpreting recent fluctuations in this metric to gauge whether the market is entering an accumulation or distribution phase.