The US-Iran war has phase-wise come to an end, Bitcoin is regaining popularity

Just today, the data on long-term holders of Bitcoin has once again refreshed its historical peak, with a total of 14,945,950 bitcoin:native averaging a holding period of over 155 days, which means that 74.54% of the current circulating supply of BTC is in long-term holding positions.

This further illustrates that long-term holders are continuously increasing their Bitcoin holdings. At the beginning of June, due to uncertainties regarding the US-Iran war, BTC did experience a temporary pullback, during which long-term holders did reduce their positions slightly, and the stock of BTC on exchanges also increased. However, once the US indicated that a comprehensive peace was truly on the horizon, long-term holders began to buy again.

Here, it is important to explain that the data on long-term holders does not merely represent Bitcoin that has been dormant on-chain for over 155 days; if a long-term holder has recently purchased BTC, as long as the average holding time of their previously held BTC exceeds 155 days, it still counts as long-term held BTC.

With the increase in long-term holding, the stock of Bitcoin on exchanges is gradually decreasing, and both of these data points indicate that after the phase-wise conclusion of the war between the US and Iran, investors are beginning to regain enthusiasm for purchasing Bitcoin.

Of course, this issue was mentioned in last week's task: as long as the US and Iran can truly sign a peace agreement, risk markets will surely see an uptick, because a peace agreement represents the opening of the Strait of Hormuz, signifies a decrease in WTI prices, and indicates that expectations of rising inflation in the US may come to an end.

This is beneficial for the Federal Reserve's interest rate meeting on Thursday morning and for Waller, so investors are willing to buy risk assets to bet on at least a potential rebound.

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