🚀🚀🚀 Bitcoin enthusiasts, buckle up! Long-term Bitcoin holders (holding for 1-2 years) have been observed to sell portions of their holdings during bullish phases when BTC's price is on the rise. But wait, there's more! 🎉

Those with Bitcoin UTXOs (unspent transaction outputs) older than 3 years are still accumulating more BTC, showing a strong bullish sentiment. So, it's not all sell, sell, sell! 💪💪

CryptoQuant's latest findings reveal that over 50% of BTC's total supply has been inactive on the blockchain for over a year. This suggests that long-term holders are confident about Bitcoin's future value despite price fluctuations. 📈📈

As BTC's price recovered to $56,000, the 1-year and 2-year holder cohorts transitioned from a selling phase to a holding one, signaling renewed confidence in Bitcoin's upside potential. The technical outlook is at a critical juncture, testing significant support levels. But long-term holders' behavior suggests an underlying bullish sentiment. 🚀🚀

Glassnode also noted that a group of long-term Bitcoin holders, who had been selling portions of their holdings since December 2023, have started re-accumulating or buying BTC again. This could mean significant volatility may be needed to trigger another wave of sell-offs from these long-term holders. 😎😎

CryptoQuant warns that a break below the daily Ichimoku cloud could shift market sentiment bearish, potentially leading to a retracement towards $64,000. But don't fret! IntoTheBlock estimates that the next market peak could occur between October 2024 and March 2025. So, hold on to your hats, Bitcoin believers! 🎉🎉🎉