Despite Bitcoin’s price downturn over two months and a peak at $73,000, long-term holders (LTH) are not selling their stakes, showing a bullish stance amidst market uncertainties. On-chain data, as shared by CryptoQuant analyst Axel Adler Jr on May 11, reveals a key metric indicating LTH resilience, even as the Bitcoin market struggles with macroeconomic challenges like Fed rate uncertainties. This behavior contrasts with three major profit-taking events by Short Term-Holders (STH) at significant price levels, highlighting a strategic patience among LTH that differentiates them from shorter-term investors. The steadfastness of LTH, holding approximately 1.3 million BTC without selling, underscores a critical support level for Bitcoin’s price stability and potential recovery, marking a notable confidence in the cryptocurrency’s long-term value amid current market volatility.
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