Analysts: Bitcoin Long-Term Holder indicators have not yet sent signals, and the market may still be in the early stages of an uptrend cycle.

Analyst Crypto Dan noted that historically, when the on-chain share of Bitcoin held for over 18 months rises and then begins to decline, it has typically been followed by a strong rally. He believes the market has already entered a bullish cycle but remains in its early stages, with the aforementioned signal yet to emerge. Additionally, the crypto market has not yet become overheated, as most investors are maintaining a wait-and-see stance, suggesting that the true uptrend may not have started just yet.