Bitcoin long-term holders' positions have decreased to 12.45 million coins, hitting a new low since July 2022📉. According to IntoTheBlock data, the reduction in long-term holders during this cycle is 9.8%, significantly narrower compared to 15% during the 2021 bull market and 26% during the 2017 bull market📊. This indicates that investors are showing higher confidence in holding or a more cautious attitude in the current market environment. Despite the decrease in holdings, market sentiment does not seem to have been significantly affected. Continuing to pay attention to market dynamics and maintaining a rational investment mindset is key🔍.