Bitcoin long-term holders' holdings fell to 12.45 million, the lowest since July 2022

According to IntoTheBlock data the current holdings of long-term Bitcoin holders have dropped to 12.45 million coins, reaching a new low since July 2022. The data also shows that the reduction in holdings by long-term holders during this cycle is only 9.8%, which is significantly narrower compared to the 15% reduction during the bull market cycle in 2021 and the 26% reduction during the bull market cycle in 2017.