This shows that the long-term holders have built up their confidence in keeping it for long; it will also serve as a lesson to any short-term Bitcoin holders, although these long-term holders have always believed that the growth of Bitcoin in the future would be massive and be appreciated and also look up to the market cycle of its constant supply of 21m BTC. Moreover, as long as these holders keep holding BTC, it will also trigger the market price or increase the price, and it's going to be the happiest moment for the holders and the crypto enthusiasm
You missed a point that is very important. Having current long term holders to continue their Bitcoin holding in long term is not enough but in the market, it must have new demands from new investors as demand is very important.
Lack of new and increasing demand will eliminate effects from limited total supply and long term holding. Fortunately, we have been witnessing a very exponential adoption growth as well as sharp demand rise of Bitcoin investors. This will trigger Suppoy adn Demand effects and force Bitcoin to the Moon price.