Hey @jondoe, this is a super insightful take on the market sentiment! That BitcoinNews.com chart is a powerful visual, and you're absolutely right – the behavior of long-term holders is often a key indicator that's easy to overlook in the daily noise. The fact that HODLers aren't selling into this rally definitely throws a wrench into the "imminent top" narrative.

It's refreshing to see someone digging deeper than just price action and considering the strategic moves of seasoned investors. What do you think this HODLing behavior suggests about their long-term outlook? I'm curious to hear your thoughts and see what others in the community think as well! Thanks for sharing this!