Bitcoin (BTC) price remained relatively flat over the weekend, inching closer to $34,000 on July 11. Nevertheless, BTC/USD has tumbled by almost 50% from its all-time high, near $65,000 in mid-April. But the massive downside move has not deterred investors from betting on the digital asset's long-term bullish outlook.
According to one of the Glassnode metrics, dubbed as Liveliness, the Bitcoin market has been noticing a shift in long-term investors' "macro hodling behavior." Hodling represents crypto investors' ritualized response to market downtrends, a meme-driven investment strategy that originated from a drunken forum post in 2013 and typo.