Are You a Long-Term Holder After 155 Days?

Glassnode published an interesting metric showing that in every market cycle, so-called long-term holders sell around 3 million BTC.

At first, the number felt enormous. Especially since, according to Glassnode, in the current 2024–2025 cycle long-term holders have already sold 3.27M BTC. It’s hard to believe they still had that much left to sell — there aren’t even that many coins sitting on Satoshi’s wallets!

Then I realized I misunderstood what “long-term” means. For me, long-term holders are the wise ones who have been stacking since 2009, 2010, or at least 2011. But for Glassnode, a “long-term holder” is simply anyone whose BTC hasn’t moved for more than 155 days.

That means it doesn’t even have to be someone who bought in the previous cycle. You could have swapped your BTC for stablecoins a few times during this bull run (already 2.5 years long), then swapped back in after a correction like the current one — and every one of those swaps would still count as a “long-term holder selling.”

On rabbit.io, I also see swaps from people who’ve held their BTC for 155+ days. I’m curious — if you’re one of them, do you consider yourself a true long-term holder?