CryptoQuant: The decline in supply from short-term Bitcoin holders may hinder price breakthroughs

ChainCatcher news, according to The Block, CryptoQuant data shows that the 30-day change in supply from short-term holders (STH) of Bitcoin has dropped to its lowest level since 2012. CryptoQuant's research director Julio Moreno stated that this could limit Bitcoin's ability to break through the current price range.

Data shows that Bitcoin supply is shifting towards long-term holders (LTH), which are addresses that have held for more than 155 days. While the accumulation of Bitcoin by long-term holders is a prerequisite for price appreciation, Moreno emphasized that Bitcoin still needs new demand from short-term holders to sustain price increases. Moreno added, "Currently, there has been no significant new demand from short-term holders."