I've been closely monitoring this data for the past few days: As of February 26th, LTH net holdings continued to show net growth; specific details are as follows (from February 13th to February 26th): 1. A total of 14,127 LTH BTC were spent; 2. Simultaneously, 19,798 STH BTC were converted to long-term holdings. The positive and negative figures offset each other, resulting in a positive overall trend. This indicates that both long-term and short-term holdings have seen reduced turnover, with speculative funds exiting and long-term funds reluctant to sell. While this has reduced liquidity, it has also weakened selling pressure. Why is this data so important? Because it reflects the experience of January 14th. Given the current pessimistic and sensitive market sentiment, any increase in selling pressure would pose a severe test to the limited short-term demand. Even if it doesn't have an immediate direct impact, it will certainly lead to an increased probability of the rebound ending prematurely through indirect transmission. Therefore... I've been checking it daily (and not just this one) recently.