Long-term holders (LTH) are seasoned investors who typically employ a buy-and-hold strategy for Bitcoin, maintaining their positions over extended periods. Recent observations indicate that critical junctures, marked by red arrows, show significant shifts in net positions. These shifts may signal local peaks or changes in market sentiment, suggesting that LTHs could be taking profits or liquidating positions.

The Korea Premium Index, or "Kimchi Premium," is currently negative, indicating that Bitcoin is trading at lower prices on South Korean exchanges compared to global exchanges. This suggests low buying pressure from Korean traders.

Additionally, Open Interest (OI) has reached levels last seen on September 27, with a significant rise indicating a large number of new positions in the market. This increase in OI often signals heightened leverage and speculation, potentially leading to increased market volatility.

Lastly, funding rates have spiked to 0.02%, indicating a dominance of long positions paying fees to short positions. This imbalance could lead to market corrections if over-leveraging continues on the long side. Overall, these indicators suggest a complex but optimistic market landscape.