Are you sure about this? Do you get any data from valid sources or do your own research?
If it is true, it may be a good sign for the holders to keep the Bitcoins. Even no guarantee for a big bullish later, it potentially has higher demand because some people still expect the impacts of halving at the end of this year or in 2021. As long as halving can rise positive perception about Bitcoin price on the market, I am pretty sure that we have a chance for another potential bullish. IMHO