In the recent market volatility, the price of Bitcoin fell below $26,000, and this news has attracted widespread attention from investors around the world. At the same time, data shows that long-term holders currently own 13.44 million Bitcoins, a number that not only reflects the complexity of the market, but also reveals the holders' confidence in the future of Bitcoin. In this article, we will delve into the reasons for Bitcoin price fluctuations, the mentality of long-term holders, and the possible direction of the market in the future.

As a decentralized digital currency, Bitcoin has experienced many price fluctuations since its launch in 2009. The drastic changes in its price are often closely related to multiple factors such as market sentiment, policy changes, and technological progress. In recent cases, the overall sentiment of the market has been affected by multiple factors, including global economic uncertainty, changes in regulatory policies in various countries, and fluctuations within the cryptocurrency market. In particular, the recent interest rate hike policy of the US Federal Reserve has led to general pressure on the asset market and a significant reduction in investors' risk appetite, which has directly affected the price trend of Bitcoin.

In this market environment, many short-term investors may choose to stop losses, while long-term holders show a different attitude. According to the latest data, long-term holders currently hold 13.44 million bitcoins, which is equivalent to nearly 70% of the total supply of bitcoin. Long-term holders are usually those who started investing in bitcoin in its early days, have experienced many price fluctuations, and have accumulated rich market experience. These investors tend to have stronger psychological qualities, they believe in the long-term value of bitcoin, and are willing to hold on to it during market downturns.

Take an anonymous Bitcoin investor as an example. He bought 100 Bitcoins for less than $500 in 2014. Although his investment suffered heavy losses when the price of Bitcoin plummeted to $3,000 in 2018, he did not choose to sell, but chose to continue holding. Today, when the price of Bitcoin has rebounded to more than $20,000, the value of his investment has multiplied several times. This story is not an isolated case. Many long-term holders still firmly hold their Bitcoins after experiencing the ups and downs of the market, looking forward to future returns.

Of course, the confidence of long-term holders is not blind. Many holders have formed their own investment strategies in the process of continuous learning and research on market dynamics. They pay attention to technical analysis, market trends and global economic situation, and strive to find their own place in the complex market environment. For example, with the continuous development of blockchain technology, more and more companies are beginning to accept Bitcoin as a means of payment, which undoubtedly lays the foundation for the future development of Bitcoin. In addition, the regulatory policies of various governments on cryptocurrencies are also gradually maturing. Although it may bring fluctuations in the short term, it will contribute to the healthy development of the market in the long run.

In the context of market volatility, many investors are also paying attention to Bitcoin's properties as a digital gold. Considered an effective tool to fight inflation, Bitcoin's scarcity makes it more and more popular with investors amid increasing economic uncertainty. For example, some economists believe that in the future economic environment, Bitcoin may become an important means of storing value, especially in the case of depreciation of legal currencies.

Of course, holding Bitcoin is not without risk. Market uncertainty, technical loopholes, and changes in regulatory policies are all important factors that affect the value of Bitcoin. Many new investors choose to sell when prices fall, which may lead to greater market volatility. Therefore, when choosing to hold Bitcoin, investors must have a certain sense of risk and market sensitivity. In this case, the mentality of holders is particularly important. They need to stay calm in market fluctuations and avoid making hasty decisions due to emotional fluctuations.

When it comes to the future market trend, many analysts are optimistic about Bitcoin. They believe that although it may be affected by market sentiment in the short term, in the long run, the demand for Bitcoin will continue to grow. As more and more institutional investors enter the market, the liquidity and market depth of Bitcoin will continue to improve. In addition, with the advancement of technology, the application scenarios of blockchain will continue to expand, further promoting the popularity and application of Bitcoin.

In this context, the confidence of long-term holders is growing day by day. They not only pay attention to price fluctuations, but also pay attention to the long-term value of Bitcoin as an emerging asset class. Many holders share their investment experiences on social media, forming a large community. They discuss market dynamics, share investment strategies, encourage each other, and move forward together on this challenging road.

The future of Bitcoin is full of challenges and opportunities. After experiencing the ups and downs of the market, the confidence of holders will become an important driving force for the development of Bitcoin. As many investors have said, real wealth lies not only in short-term market fluctuations, but in the belief and persistence in the future. In the face of market uncertainty, the firm attitude of long-term holders will bring more possibilities to Bitcoin.

As the market continues to evolve, the story of Bitcoin continues. Whether it is price fluctuations or the confidence of holders, they are constantly writing the history of this digital currency. For every investor, what is important is not the short-term gains and losses, but the thinking and planning for the future. In this era full of challenges and opportunities, I hope that every investor can find his or her own direction in the Bitcoin journey and reap his or her own success.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120BTC.COM) News: Last Thursday (21st), the Federal Reserve decided to suspend interest rate hikes in September, and Bitcoin once broke through $27,000. However, many officials expect that interest rates will be raised by another basis point before the end of the year, and the rate cuts will slow down next year. Against this headwind, Bitcoin continued to fluctuate and fall. At 8 o'clock this morning (25), it once fell below $26,000. At the time of writing, it was reported at $26,088, down 1.84% in the past 24 hours.
Ethereum (ETH) also followed a similar trend, with its lowest point approaching $1,560 this morning and trading at $1,572 before press time, down 1.05% in the past 24 hours.
Long-term Bitcoin holders hold 13.44 million BTC
But despite the market turmoil, according to data analyzed by IntoTheBlock, there does not seem to be any obvious selling behavior by Bitcoin "long-term holders". Currently, long-term holders own 13.44 million Bitcoins, which is close to a record level and accounts for 69% of the circulating supply.
Historically, these holders have sustained prices in bear markets and profited in bull markets.
Good news for Bitcoin spot ETF in October? 
Another focus of the market is: Can the Bitcoin spot ETF be successfully approved by the SEC? Mike, CEO of Galaxy Digital, a well-known cryptocurrency investment management institution
Novogratz predicted at the Mainnet2023 conference hosted by Messari on the 23rd that Bitcoin spot ETFs will usher in good news in October this year, and Bitcoin spot ETFs will be able to be traded as early as early December this year.
Mike Novogratz mentioned that Invesco has already cooperated with Galaxy
Digital has teamed up to submit an application for a Bitcoin spot ETF, and currently there are 7 or 8 reliable competitors who have applied. He believes that these ETFs may be launched on the same day. Bitcoin is an international asset. Considering the sales capabilities of these ETF issuers, the rules of the game will change and the price of Bitcoin is bound to be pushed up.