<p>Bitcoin's price has been stuck in a consolidation phase for the past two months, fluctuating between <a href="https://coinpedia.org/news/bitcoin-price-prediction-battle-to-surpass-64500-continues-with-no-confirmation-of-bullish-bias/">$50,000 and $64,700</a>. Despite the price struggles, long-term Bitcoin holders (LTH) are showing a surprising trend they’re not moving their coins. This behavior has caught the attention of market analysts, signaling that long-term holders remain confident in Bitcoin’s potential.&nbsp;</p>   
<p>According to <a href="https://cryptoquant.com/insights/quicktake/66f440e0db12a10968424b58-Long-term-BTC-holders-are-not-moving-their-Coins-anymore">CryptoQuant’s on-chain analyst Darkfost</a>, this stability in movement may point to a decrease in selling pressure. </p>   
<p>What is driving LTHs to stick to their strategy even though the price is swinging wildly? Could this mark the beginning of a new phase for Bitcoin? It's time for some answers. </p>   
<h2 class="wp-block-heading" id="h-long-term-holders-stand-firm-as-selling-pressure-eases">Long-Term Holders Stand Firm as Selling Pressure Eases</h2>   
<p>Darkfost’s analysis shows long-term holders are staying strong, holding onto their<a href="https://coinpedia.org/news/bitcoin-dominance-crumbles-is-a-massive-altcoin-surge-ahead/" target="_blank" rel="noreferrer noopener"> Bitcoin</a>. This is a key trend because it usually means they expect future price growth. Even though Bitcoin has struggled to reach $67,000 again, these holders’ decision to keep holding shows their confidence in Bitcoin’s potential.</p>   
<p>The fact that long-term holders aren’t moving their Bitcoin is a positive sign for the market. With less selling pressure, prices tend to stay stable or even start rising.</p>   
<p>Without big sell-offs from long-term holders, Bitcoin often holds its value or prepares for a price increase. While we might not see an immediate price surge, this trend often leads to bigger moves down the line.</p>   
<h2 class="wp-block-heading" id="h-why-the-u-s-elections-will-shake-the-market">Why the U.S Elections Will Shake the Market </h2>   
<p>As the 2024 <a href="https://coinpedia.org/news/us-election-2024-whos-better-for-us-crypto-market-donald-trump-or-kamala-harris/">U.S. Presidential Election</a> nears—just 41 days away—the crypto market is watching closely. A pro-crypto candidate could give the market a major boost. Donald Trump, for example, has talked about turning the U.S. into a "crypto capital" and potentially making Bitcoin a strategic reserve, which could drive prices even higher.</p>   
<h2 class="wp-block-heading" id="h-key-levels-to-watch">Key Levels to Watch </h2>   
<p>Bitcoin is currently facing a key resistance level near $65,000. Should it break this level, the price could quickly rise to $65,379. A successful close above this resistance might trigger a 7% rally, potentially retesting the July 29 high of $70,079.&nbsp;</p>   
<p>As of now, Bitcoin is <a href="https://markets.coinpedia.org/bitcoin/">trading at $63,454</a>, reflecting a slight 1.2% drop over the past 24 hours. However, the overall sentiment remains positive as long-term holders continue to hold strong.</p>   
<p><strong>Do you believe the long-term holders have it right? Share your predictions.</strong></p>

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