According to BlockBeats news, on May 17, on-chain data analyst Murphy stated on social media that the average cost of Bitcoin long-term holders (LTH) has suddenly risen sharply, with a 7-day cost change rate reaching 9.57%. This situation has occurred not only because some short-term holders (STH) have converted high-position chips into LTH, but also because certain low-cost long-term chips have been sold, leading to an overall increase in cost. Currently, the average cost for LTH is around $31,000, indicating that a considerable amount of chips with a cost below $31,000 has been sold, causing the overall cost to rise rapidly.
Murphy further explained that 'diamond hands' holders, or long-term holders (LTH), usually operate infrequently, and their selling actions are primarily based on 'panic' or 'hedging'. Currently, there is no 'panic', so it is possible that LTH feel the price is approaching their anticipated peak and are gradually exiting (LTH's judgment could also be incorrect).
