ChainCatcher Message, Bitfinex analysts point out that the future trend of Bitcoin depends on how to balance the supply and demand relationship between short-term holders (STH) and long-term holders (LTH).

Currently, the supply of Bitcoin held by short-term holders has approached 3.28 million, a figure typically associated with the peak of a bull market, indicating that retail investor interest is increasing. However, profit-taking by long-term holders may put pressure on Bitcoin's upward momentum.

Over the past two weeks, the supply from long-term holders has remained stable, but insufficient spot demand could lead to a price pullback. Analysts believe that only if the buying power of short-term holders can absorb the selling pressure from long-term holders can the price of the coin continue to rise. 📈