Analyst: Bitcoin is experiencing a pullback, but now strong hands are attracting funds, and at this stage, it is more inclined towards a long-term allocation window On June 18th, according to TechFlow, CryptoQuant analyst Darkfost stated that during the current Bitcoin pullback, large investors holding more than one Bitcoin are taking advantage of the price drop to continue to increase their holdings. Their total BTC holdings have risen to a historical high of over 16.8 million, indicating that long-term allocation demand is still increasing and further reflecting the institutionalization trend of Bitcoin assets. The continued increase in holdings by these investors suggests that market participants are more inclined to allocate assets from a long-term perspective rather than short-term trading. At the retail level, Darkfost analysis suggests that there are also signs of reaccumulation, but overall caution remains. At present, retail investors hold about 1.7 million BTC, still lower than the historical high set in December 2023. Some individual investors have chosen to take profits during the previous upward trend, while some funds may adjust their exposure through more convenient channels such as ETFs. Although there are differences in the behavioral rhythms of different investment groups, the current market as a whole is gradually forming a consensus that it is more inclined towards the long-term allocation window, and the trend of funds re entering the accumulation stage is increasing.