According to CoinMeta, Wu said that analyst Darkfost indicated that, based on data from CDD, the activity of long-term Bitcoin holders (LTH) is significantly higher than in previous cycles. This may be related to the increased liquidity brought about by the launch of spot trading ETF and corporate BTC wallets. However, since 2026, the overall activity of long-term holders has remained relatively calm, with only a slight rebound recently due to the rise in BTC. This might reflect some profit-taking, and no sustained large-scale transfers have been observed yet. Darkfost believes that at present, long-term holders are still mainly taking a wait-and-see approach.