Bitfinex Analyst: Bitcoin needs short-term holders to effectively absorb the selling pressure from long-term holders to break through the 100,000 mark

ChainCatcher message, Bitfinex analysts indicate that the upward momentum of Bitcoin depends on how to balance the demand from short-term holders (STH) and the supply from long-term holders (LTH).

Analysts state that the supply from STH has approached 3.28 million Bitcoins, a level historically associated with the peak regions of bull markets. This suggests that retail interest is rising. However, the increase in profit-taking by long-term holders puts pressure on Bitcoin's upward momentum, potentially hindering further price increases. Over the past two weeks, the supply entering the Bitcoin market from the LTH group has remained stable, and the lack of spot demand to absorb this supply may lead to further price declines.

In simple terms, Bitfinex analysts believe that only if the buying power of short-term holders further absorbs the selling pressure from long-term holders can the price continue to rise.