On December 24, #比特币市值排名 4, according to CoinDesk, as the price of Bitcoin rebounds above $90,000, long-term holders (holding ≥ 155 days) continue to buy, absorbing selling pressure from short-term holders at a ratio of 1.38:1. Since January, Bitcoin holders have net increased their holdings by 635,340 BTC. Currently, long-term holders have a total holding of approximately 13.755 million BTC, accounting for about 65% of the circulating supply. Short-term holders own about 3.51 million BTC and have reduced their holdings by approximately 460,000 BTC in the past 155 days.

The cost price for long-term Bitcoin holders is mainly concentrated in the range of $65,000-$95,000, while short-term holders have generally adopted profit-taking or loss-cutting strategies recently, and market sentiment has not fully recovered. Although Bitcoin has retraced 30% from its historical high of $109,000 in January, long-term holders continue to accumulate at lower levels, which is a typical characteristic of distributing at high levels. Currently, a total of 2.6 million BTC in the market is in a loss state, primarily from purchases made above $95,000, forming a strong resistance level. The market needs to pay attention to whether the key psychological level of $95,000 can be effectively broken.