Data: The long-term and short-term holding ratio of BTC has reached a 30-month high, with long-term holders continuing to accumulate

Crypto market analyst gaah cited CryptoQuant data, stating that the holding ratio of long-term holders (LTH) to short-term holders (STH) of BTC has risen to a 30-month high. This metric is used to measure the distribution of Bitcoin supply between long-term holders and short-term holders.

The analysis points out that extreme highs in this metric typically do not occur at the peak of market euphoria, but rather during a reaccumulation phase. Historically, bull market peaks often happen when this metric starts to decline from a high point, rather than when it reaches a new high. Currently, with BTC prices still about 50% lower than the last historical peak, long-term holders continue to absorb circulating chips in the market.