Long-term holders (LTHs) significantly shape Bitcoin’s market dynamics. As of March 18, 2025, LTHs hold about 75% of the circulating supply (14.8 million BTC), reducing available liquidity. Their HODLing behavior—evident in a Long-Term Holder SOPR steady at 1.1—signals confidence, stabilizing prices during dips (e.g., February’s 17.5% correction). When LTHs sell, as seen in January when NUPL hit 0.75, it often marks cycle peaks, triggering profit-taking and volatility. Conversely, accumulation phases, like late 2024, tighten supply, pushing prices toward $90K (Power Law Fair Value). X sentiment reflects LTHs as a bullish backbone, with some arguing their diamond hands prevent crashes. However, mass distribution could flood the market, risking sharp declines. Overall, LTHs act as both a stabilizing force and a potential catalyst for big swings.