Odaily Planet Daily News Glassnode said in its weekly on-chain report that after several months of relatively heavy distribution pressure, the behavior of Bitcoin holders seems to have turned to holding (HODL) and accumulation. In the past 3 months, a total of more than 374,000 BTC have been transferred to LTH (long-term holding) status. Spot market activity shows that there has been a net tendency of seller pressure recently, and this tendency has not yet completely subsided. However, the sharp price fluctuations in recent months have caused the distribution pressure of LTH to slow down significantly, causing the proportion of the value of the holdings of this group to first stabilize and then resume growth. Compared with the ATH breakthrough in the past cycle, the current holding value of the long-term holder group is still at a historical high. This suggests that LTH may face further withdrawal pressure if the price of Bitcoin rises in the future. It also shows that although the price of Bitcoin has been trading sideways and even fell recently, the willingness of these investors to reduce their positions at a lower price has further decreased. Overall, despite the challenging and volatile market environment, long-term Bitcoin holders remain steadfast, and there is evidence that they are increasing their accumulation behavior. This group of investors holds a higher percentage of Bitcoin network wealth and has shown a certain patience in waiting for prices to rise. In addition, despite the largest price correction in the cycle, this group of investors has not panic-sold, highlighting the resilience of their overall conviction.