According to Glassnode data, as Bitcoin prices rose above $90,000, long-term holders (LTHs) showed strong conviction, accumulating more than short-term holders' sales. Since January this year, long-term investors have accumulated 635,340 Bitcoins, with a total holding reaching 13,755,722. Despite the rebound in Bitcoin prices, there are still 2.6 million Bitcoins in a loss state, reflecting the ongoing resistance faced by investors who bought above $95,000.

The data shows that for every Bitcoin sold by a short-term holder, long-term holders accumulated 1.38 Bitcoins. It is known that long-term holders typically accumulate during weak markets and sell during strong ones.