According to Foresight News, data from IntoTheBlock shows that the current holdings of long-term Bitcoin holders have fallen to 12.45 million, a new low since July 2022.

The data indicates that in this cycle, the reduction in holdings by long-term holders is 9.8%, significantly narrower compared to the 15% in the 2021 bull market cycle and 26% in the 2017 bull market cycle.

However, in terms of institutional demand, the optimistic sentiment continues. Spot ETFs recorded an inflow of $350 million yesterday, while MARA Holdings has followed MicroStrategy's footsteps in purchasing $618 million worth of BTC over the past two months. Other crypto mining companies like RiotPlatform are increasingly likely to stop selling BTC, with some considering expanding their holdings. Additionally, news of Microsoft considering holding BTC highlights the growing interest among more companies in Bitcoin as a reserve asset.

Long-term holders are selling because they have made enough profit, cashing out, and the price correction at high levels is also leading some retail investors to step back and observe; a price drop is quite normal. However, institutions tend to have a longer-term perspective than average individuals, and during this period, institutions have been continuously buying. Therefore, I believe that after this correction, Bitcoin will rebound again, and the $100,000 mark is not far off; corrections present opportunities.

Brothers, please go easy on the criticism; I am still a die-hard bull. If you like it, feel free to follow.