Bitcoin holders have not been affected by recent market volatility.

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Based on various on-chain indicators for the world's largest digital assets, it appears that long-term holders continue to maintain control over their investments despite recent market fluctuations.

Notably, LookIntoBitcoin data shows that the trend of holding for over a year (measured by the amount of Bitcoin untouched for at least a year) reached a peak of 69.2% on July 7th and has remained at a high level of 68.6%.

Despite a 10% plunge in Bitcoin's value within a two-hour period on August 17th, long-term holders have largely refrained from liquidating or transferring their assets.

With a significant drop in U.S. bond yields and Grayscale's small victory in its struggle with the SEC over converting its flagship trust fund into a spot Bitcoin ETF application, Bitcoin saw a 6.2% increase to $28,160, marking the largest single-day surge in five years over the past half month.

Yield App CEO Tim Frost told Blockworks, ""If Grayscale's application to convert its Bitcoin trust fund to an ETF is indeed approved in the future, we can expect a significant increase in BTC from here."" Exchange data indicates that the asset has since fallen by 1.8%, currently trading around $27,250.

In a recent research report, Bitfinex Alpha noted that new data suggests 40% of the total Bitcoin supply has remained stable over a period of more than three years.

Changes in market dynamics indicate a resilient and optimistic sentiment among long-term holders, who seem to be unaffected by recent market turmoil and reversals. The on-chain indicator Coin Days Destroyed (CDD), which measures long-term token activity levels based on a 30-day average, has declined to a low point since March 6th. According to this indicator, lower CDD levels are typically associated with reduced market selling pressure.