BREAKING: Bitcoin's Long-Term Holders Flash Warning Signs of a Potential Market Top

LTH Supply Dips as Spending Surges

Hang on to your hats, crypto fans! Glassnode's dropping some serious intel on Bitcoin's long-term holder (LTH) supply, and it's got us all on the edge of our seats. These LTHs, the big shots who've been holding onto their BTC for 155 days or more, saw their stash peak at a whopping 14.29 million BTC after climbing from 13.66 million in mid-March. But hold up – that number's taken a nosedive for the second time this month!

And get this: LTH spending's been cranking up to 0.43, a level that's been known to signal trouble ahead for Bitcoin's price. We're talking local tops here, folks. Glassnode's tweeting about it, and you know they don't mess around when it comes to the data.

Analysts Sound the Alarm: Double Top Pattern Spotted

Now, hold onto your wallets because the analysts are sounding the alarm! Jacob King from WhaleWire's shouting it from the rooftops: Bitcoin's forming a double top, and it's a pattern that's ended every major bull cycle in the past. He's dropping this bombshell to his 520,000 followers on X, and they're all buzzing about it.

King's not holding back, claiming that insider manipulation and Tether inflows are keeping this rally on life support. He's warning everyone that we're on the brink of a crash and that Bitcoin's dangerously overvalued. Buckle up, people – the bear market might be knocking at our door.

Bitcoin's Rollercoaster Ride: From 32% Dip to Institutional Rebound

Let's rewind a bit. Bitcoin took a wild 32% dive earlier this year, but it's been clawing its way back up like a champ. From a low of about $94,000 at the start of May, it's soared to a high of $105,747 on May 12. And guess who's been fueling this comeback? The big institutional players!

On May 12 alone, Strategy threw down $1.34 billion on BTC, bringing their stash to nearly 569,000 BTC. And Japan's Metaplanet? They're not messing around either, adding 1,241 BTC to their haul, now sitting pretty at 6,796 BTC. Plus, Bitcoin spot ETFs are raking in the cash, pulling in $1.94 billion in net inflows over the past month.

Institutional Buying Keeps the Bullish Outlook Alive

Now, before you start panicking about short-term pullbacks, let's not forget the bigger picture. According to Santiment, these institutions are holding onto a whopping 68% of the total supply, and they're not showing any signs of letting go.

Sure, if retail investors start throwing in the towel, we might see some short-term dips. But with institutions still gobbling up Bitcoin and ETFs snapping up around 5,000 BTC every single day, Bitcoin's got a solid chance of finding its footing. Once the profit-taking dust settles, we could be looking at even more growth on the horizon.