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CoinWired news: latest on-chain data from CryptoQuant shows that the net position change of Bitcoin long-term holders (LTH) reached 1.29 million BTC within the past 30 days, marking the largest increase in six years. This figure surpasses the record during the 2017 bull market, sparking speculation that a new Bitcoin bull run may be imminent. Although Bitcoin has not yet regained momentum and remains in a downward trend, long-term holders are moving back into the market. The data indicates that strong accumulation by long-term holders drove a 15% price rise during Bitcoin’s rebound from about $58,000 to $66,000. If this buying continues, the market expects Bitcoin could rise further to $70,000.