Bitcoin's price has been steadily increasing towards $40,000, but long-term holders who have kept coins for over seven years are not selling their holdings as they have done in past market rallies. During previous bull runs in 2017 and 2021, long-term holders sold significant amounts during price peaks, but the sell-off activity this time is much lower. This suggests that holders have increasing confidence in Bitcoin as a long-term investment asset rather than just a short-term profit tool. The low sell-off levels indicate a shift in behavior and could reflect the market's maturity, where investors are focused on long-term trends rather than reacting to price volatility. This holding behavior limits the available supply and sends a signal of confidence to institutional investors. However, the market remains unpredictable and external factors could disrupt the current stability.



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