Axel Adler Jr.: The proportion of short-term holders of Bitcoin has dropped to a multi-year low, while the proportion of long-term holders has risen to 52.5%

CryptoQuant analyst Axel Adler Jr. stated that the proportion of short-term Bitcoin holders in the realized market value has dropped to 23.5%, a multi-year low, while the proportion of long-term holders has risen to 52.5%, approaching the historical peak of 55% in 2018. Three months ago, short-term holders accounted for 40% and long-term holders accounted for 42%. Axel Adler Jr. pointed out that the decrease in the proportion of short-term holders reflects a weakening of speculative turnover rate, while the increase in the proportion of long-term holders reflects that the currency is aging and remaining dormant, with supply settling towards strong hands. Axel Adler Jr. also stated that if demand does not return, low activity may continue and prices may continue to decline.