The accumulation of 70% of Bitcoin remaining stationary for over a year is a significant milestone. Just think despite Bitcoin's rise from $15,700 to around $37,000 in the last 12 months, a vast majority hasn't budged. I vividly recall the November 2022 FTX crisis when Bitcoin's price plummeted, critics predicted its demise, and the media celebrated prematurely.
Holders of 70% of bitcoin seem to realize that it is better to HODL without worries, rather than getting involved in centralized service bullshit schemes. Besides, I remember what CZ said after the FTX crash more or less: "Your keys your coins". This is a scary statement for a centralized business owner but it seems to have changed the way of thinking of many people who are looking for the safe way.