CryptoQuant analyst Axel Adler Jr stated, "If we observe the entire group of long-term holders, their current selling activities are close to the lowest level. In essence, the selling activities of long-term holders have reached the current lowest point, which coincides with the classic accumulation phase. In the previous four similar cases, three of these long-term holder behaviors led to a 18% to 25% increase in Bitcoin price in the following 6 to 8 weeks.