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.

ChainCatcher news, according to Into The Block data, the initial holdings of Cardano short-term holders (investors holding ADA for less than a month) on November 5 were 5.27 billion ADA, with 3.15 billion ADA purchased this month.Currently holding 8.42 billion ADA, worth 9 billion dollars, their balance has reached the highest point in 8 months.

ChainCatcher news, according to CoinDesk, Bitcoin fell below $70,000 on Thursday, triggering panic selling among short-term holders (STH). On that day, short-term holders transferred approximately $2.3 billion worth of Bitcoin (about 32,000 BTC) to exchanges while at a loss, marking the largest single-day loss transfer since the yen arbitrage trades were closed on August 5. Meanwhile, over the past three days, short-term holders have transferred more than $6 billion worth of Bitcoin to exchanges to cash out some profits.Analysts point out that the U.S. presidential election will be held on November 5, and investors are likely to reduce their risk exposure, which they often do on the last day of the month.

ChainCatcher news, CryptoQuant released a market outlook analysis indicating that BTC has risen over 23% in the past three weeks, from $52,500 to over $65,000. This strong momentum is partly due to increased demand for Bitcoin spot ETFs.As a result, short-term holders are back in profit. Short-term holders are investors who have transferred Bitcoin within the past 155 days, with an average purchase price of $63,000, and are currently expected to provide support.Additionally, the futures market shows signs of overheating, with open interest in contracts around $19.1 billion. Since March 2024, this metric has exceeded $18 billion six times, each time leading to a price drop, and this is the seventh occurrence.Meanwhile, the supply of spot Bitcoin ETF holdings is converting into long-term holders. While this appears bullish, such a shift typically occurs late in a bull market.

ChainCatcher news, crypto analyst Ali stated on social media that Bitcoin is currently facing a key price resistance level. Ali emphasized that the Short-Term Holder Realized Price is currently around $63,250, and BTC has struggled to break through this level since June 22.Ali explained that in a downtrend, this price level often becomes a resistance, as short-term holders are more likely to sell when the price falls below their entry point. The analyst warned that the market may face continued selling pressure until BTC reverts this area into a support level.

ChainCatcher news, according to Cointelegraph, Glassnode's report on July 24 shows that over 75% of short-term Bitcoin holders have realized profits due to Bitcoin's recent rebound. The report indicates that this rebound has surpassed the cost basis of short-term holders, allowing 75% of the assets in their holdings to return to an unrealized profit level.Despite the rebound in Bitcoin's price, it faces significant resistance at the $68,000 level, which is expected to trigger over $700 million in short liquidations. Well-known cryptocurrency analyst Rekt Capital pointed out that Bitcoin needs to maintain stability at the current support level of $65,000 to sustain its upward momentum. If the price can break through $68,500, short liquidations could exceed $1 billion.

ChainCatcher message, CryptoQuant data shows that Bitcoin exchange reserves have increased over the past week.CryptoQuant's research director Julio Moreno stated that the increase in total Bitcoin reserves on exchanges mainly comes from the rise in reserves at CEXs such as Binance, OKX, and Bitfinex, denying claims that it is related to entities like the German government selling Bitcoin wallets.Moreno said, "This may be related to increased trader activity, as most Bitcoin inflows come from short-term holders, and it seems unrelated to the Bitcoin sold by the German government."

ChainCatcher news, according to The Block, data from CryptoQuant shows that Bitcoin exchange reserves have increased over the past week. CryptoQuant analysts believe that the transfer by the German government is not the reason for the increase in reserves; rather, it should be attributed to the increased trading activity of short-term holders on centralized trading platforms.CryptoQuant's research director Julio Moreno stated that the increase in total Bitcoin reserves on trading platforms mainly comes from the reserves of centralized cryptocurrency exchanges such as Binance, OKX, and Bitfinex. However, Moreno denied claims that the increase in reserves is related to entities selling Bitcoin, such as the German government's Bitcoin wallet."This may be related to increased trader activity, as most Bitcoin inflows come from short-term holders, and it seems unrelated to the German government's seizure of Bitcoin."

ChainCatcher news, according to CryptoSlate, last weekend, Bitcoin plummeted below $60,000, resulting in over $537 million in realized losses, primarily from short-term holders (STH).This sell-off highlights the volatility and reactive behavior of these market participants, with $441 million of the losses coming from users who held Bitcoin for one month or less. As the market fluctuates, key on-chain metrics show a sharp decline in the proportion of STH supply that is in profit.

ChainCatcher news, according to Glassnode data, BTC short-term holders (entities holding BTC for no more than 155 days) sent BTC worth $1.93 billion to exchanges on December 11, and sent another $2.08 billion worth of BTC the next day.The last time the daily inflow of BTC to CEX exceeded $2 billion was in June 2022, and analysts believe this figure was a reaction from the market to the impending collapse of the CeFi platform Celsius.In addition, the single-day trading volume on December 12 also reached its highest level since early July this year.