[Analysis: The Proportion of Short-Term Bitcoin Holders Continues to Decline, Market May Be Nearing the End of the Bear Market] BlockBeats News, August 13, CryptoQuant analyst Darkfost published an article stating that the number of short-term holders (STH) in the Bitcoin market is decreasing, which is a positive signal. Currently, the proportion of BTC supply held by STH has significantly declined, with 1.2% held for less than 1 day, 2% held for 1 day to 1 week, 5.6% held for 1 week to 1 month, 6.7% held for 1 to 3 months, and 8.1% held for 3 to 6 months. Darkfost pointed out that this trend has appeared at the end of previous bear markets. On one hand, this indicates that the proportion of long-term holders (LTH) is increasing. Compared to the more active and market-sensitive STH, BTC held by LTH is less likely to be transferred. On the other hand, the decline in STH proportion also suggests that market demand has not yet returned. Every BTC purchase generates a new STH UTXO, and when market demand is strong, the proportion of supply held by STH rises rapidly, potentially reaching a peak near the market top. Darkfost believes that the market is currently approaching a "negative extreme" state, where market attention and demand remain at low levels, while the number of STH continues to decrease. This is typically a positive signal. [Original Link]