CryptoQuant: Long-Term Bitcoin Holders Go Quiet, Hinting at Early Bull Run
· macro · Sentiment: neutral
Long-term Bitcoin holders have significantly reduced on-chain activity, with metrics such as LTH spent output profit ratio and exchange deposits showing sharp declines according to CryptoQuant data. This dormancy among seasoned investors mirrors patterns observed in the early stages of previous bull markets, where accumulation phases transition to price appreciation without heavy distribution. The consensus across reporting indicates that these holders are currently refraining from selling, signaling strong conviction and limited near-term supply pressure. The key implication is that Bitcoin may be in the initial phase of a new bull cycle, with reduced selling pressure from experienced participants potentially supporting sustained upward momentum.