Bitcoin (BTC) has once again slipped under the $120,000 price mark, retracing after reaching a new all-time high above $124,000 last week. As of the latest market data, BTC is trading around $115,557, down 2.5% in the past 24 hours and nearly 7% below its peak. This price movement suggests that the asset is currently consolidating after its recent rally, leaving market participants watching closely for the next directional move. Meanwhile, analysts are turning to on-chain data for signals on Bitcoin’s potential trajectory. One such perspective comes from PelinayPA, a contributor to CryptoQuant’s QuickTake platform, who examined long-term holder (LTH)…
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