The crash to $30k from May to July did not impact btc

long-term holders as they remained in profit. CryptoQuant on-chain analyst Gaah Cordeiro notes that they do not sell at a loss during bull markets. The LTH SOPR metric remained above 1 during the entire $30k to $40k consolidation, confirming LTHs are in profit, which strongly suggests Bitcoin is not in a bear market. Overall, the trend in fundamentals and on-chain metrics continues to show strength and suggests higher prices, especially in the next few weeks and months. Near term, there are external caution signs such as risk off in global stocks, uncertainty over the Federal Reserve tapering, a rising dollar, and fear of the Evergrande $300B debt crisis