Odaily Planet Daily News CryptoQuant data shows that the 30-day increment of Bitcoin short-term holders (STH) has fallen to the lowest level since 2012. Julio Moreno, head of research at CryptoQuant, said this may limit Bitcoin's ability to break out of the current price range. Data shows that Bitcoin supply is shifting to long-term holders (LTH), that is, addresses that hold for more than 155 days. Although the accumulation of Bitcoin by long-term holders is a prerequisite for price appreciation, Moreno emphasized that Bitcoin still needs new demand from short-term holders to maintain price increases. Historically, Bitcoin prices have risen to new highs because new holders bought Bitcoin from long-term holders, pushing 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. (The Block)