Analyst: The net holdings of long-term Bitcoin holders continue to increase, while the market turnover rate declines

According to on-chain analyst Murphy (@Murphychen888), the net position change of Bitcoin long-term holders (LTH) continues to show an upward trend.

Data shows that from February 13 to February 26, a total of 14,127 Bitcoins held by long-term holders were spent, while 19,798 Bitcoins held by short-term holders (STH) were converted to long-term holdings. After offsetting the positives and negatives, the result remains positive, indicating that both long-term and short-term holdings have reduced turnover. Although market liquidity has decreased, selling pressure has also correspondingly weakened.