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.

TechFlow reports that on October 28, analyst Crypto Dan stated that historically, when the percentage of Bitcoin held for over 18 months across the network rises and then begins to decline, it is typically followed by a strong bullish rally. He believes the market has already entered a bullish cycle but remains in its early stages, and this signal has not yet appeared. Furthermore, the crypto market is currently not overheated, with most investors taking a wait-and-see stance, suggesting that a true upward trend may not have started yet.