Long-Term Holder (LTH)
On-chain cohort of coins unmoved for ~155+ days — the 'strong hands' whose behavior often marks cycle turns.
Long-term holders are defined on-chain as addresses holding coins that haven’t moved for roughly 155 days or more — a statistical threshold past which coins become far less likely to be spent. LTH behavior is a closely-watched signal because this cohort tends to accumulate in bear markets and distribute into bull-market strength.
The classic cycle narrative: LTHs quietly accumulate through the lows, then begin sending coins to short-term holders and exchanges as prices climb toward euphoria — a distribution pattern visible in HODL waves and LTH-specific SOPR. Tracking when strong hands start selling is one of on-chain analysis’s signature contributions.