Recent Bitcoin activity signals a shift towards long-term investment, driven by both institutional whales and sovereign nations. A dormant whale moved 250 BTC from Gemini, demonstrating renewed commitment to Bitcoin after a two-year hiatus, while Bhutan’s public disclosure of a $1.27 billion Bitcoin portfolio underscores the growing trust in Bitcoin as a stable digital asset. Analysis suggests this move is part of a larger strategy for long-term capital allocation. 2023 has seen continued bullishness driven by strong buying and market momentum exceeding $105,000. MVRV Z-score analysis predicts a potential cycle peak of $310,000, supported by both historical trends and recent on-chain metrics.