Bitcoin’s recent price movements have been closely watched, with particular focus on long-term holders (LTHs) and BTC dominance dynamics. Amidst the volatility, a significant trend has emerged: LTHs have shifted from selling to holding, reflecting renewed confidence in Bitcoin’s future.

ypically, during bullish phases, LTHs tend to sell portions of their Bitcoin as prices rise. However, data from on-chain analytics firm CryptoQuant shows that 1-year+ and 2-year+ cohorts have stopped selling and are holding their Bitcoin during the current price recovery. This change indicates growing conviction in Bitcoin’s long-term value.

Despite short-term price fluctuations, over 50% of the total Bitcoin supply has remained inactive on-chain for more than a year. This strong commitment from long-term holders highlights a deep belief in Bitcoin’s resilience, regardless of market volatility.

Bitcoin is currently at a critical technical juncture, testing significant support levels. While long-term holder behavior suggests strong bullish sentiment, investors need to consider key on-chain metrics. A break below the daily Ichimoku cloud could lead to a price retracement towards $64,000, warranting caution in the coming weeks.

BTC dominance also presents a multi-year perspective with key support and resistance levels. Resistance at 53.77% and a secondary resistance at 39.20% suggest potential fluctuations in dominance. Key support at 32.81% historically attracts buying interest, maintaining market stability. However, a descending triangle pattern indicates a potential bearish outlook if dominance breaks below lower support levels.

As of now, Bitcoin’s live price is $67,909.95, with a 24-hour trading volume of $29,329,238,447, showing a slight 0.21% decline in the last 24 hours.