CryptoQuant: Bitcoin short-term holder supply has fallen to multi-year lows, which may limit price breakthroughs

PANews reported on September 19 that according to The Block, CryptoQuant data showed that the 30-day change in the supply of Bitcoin short-term holders (STH) has fallen to its lowest level since 2012, which may limit price breakthroughs. The head of research at CryptoQuant said that historically, Bitcoin prices have risen to new highs because new holders bought Bitcoin from long-term holders and pushed up prices in the process. Although the accumulation of Bitcoin by long-term holders seems to be a prerequisite for further price increases, the reality is that Bitcoin needs new demand from short-term holders to maintain price increases. This is what happens in the bull market cycle. There is still no significant new demand from short-term holders.