IntoTheBlock, a market intelligence platform, has identified a Bitcoin pattern that indicates there's still ample time left in the current cycle.

The pattern revolves around the behavior of Bitcoin long-term holders (LTHs), who are investors holding onto their coins for over a year without selling or moving them. IntoTheBlock's analysis focuses on the historical trend of LTH holdings during bull markets.

Typically, LTHs exhibit strong resilience, rarely selling their holdings despite market fluctuations. However, a recent shift in their behavior has caught attention, as they've begun participating in a selloff.

While this departure from their usual behavior is noteworthy, it's essential to understand the dynamics behind it. The chart provided by IntoTheBlock illustrates how LTH holdings have evolved over recent years. During the 2022 bear market and the subsequent recovery rally in 2023, LTHs accumulated Bitcoin. However, their holdings have recently started declining.

It's crucial to recognize that there's typically a one-year delay in LTH buying behavior. This means that when LTH holdings increase, it reflects buying that occurred a year ago. Conversely, when holdings decrease, it indicates present-day selling activity.

According to IntoTheBlock's analysis, seasoned holders began selling in January, with the trend accelerating in late March. Interestingly, similar patterns were observed during previous bull runs, suggesting that LTHs tend to sell when the bull run gains momentum, continuing to do so even after reaching its peak.

Based on this pattern, IntoTheBlock suggests that there's still considerable time left in the current cycle compared to previous ones.

As of the latest data, Bitcoin's price hovers around $64,400, representing a modest increase of over 1% in the past week.