Analysis: The enthusiasm of short-term investors has dropped to a freezing point, which may indicate that a market reversal is imminent

ChainCatcher message, on-chain data analyst Murphy stated that the market is entering a period of low volatility and high concentration, with the 7-day change rate of STH-RP (Short-Term Holder Realized Price) at only 0.69%, indicating that the participation of short-term investors has dropped to a freezing point, similar to the sideways periods in February and May of 2025, which may suggest that a market shift is imminent.