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 dropped to the lowest level since 2012, which may limit price breakthroughs. CryptoQuant's director of research said that historically, Bitcoin prices have risen to new highs because new holders bought Bitcoin from long-term holders, pushing the price higher in the process. While the accumulation of Bitcoin by long-term holders may seem like a prerequisite for further price increases, the reality is that Bitcoin requires new demand for purchases from short-term holders in order to sustain price increases. This is what happens in a bull market cycle. There is still no significant new demand from short-term holders.