On March 24, #TRUMP晚宴 4, according to CoinDesk, as the Bitcoin price rebounds above $90,000, long-term holders (holding for ≥155 days) continue to buy, absorbing the sell 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, having reduced their holdings by approximately 460,000 BTC over the past 155 days.

The cost price of long-term Bitcoin holders is mostly concentrated in the $65,000-$95,000 range, while short-term holders have generally taken profit or cut losses recently, and market sentiment has not fully recovered. Although Bitcoin is still down 30% from its historical high of $109,000 in January, long-term holders continue to accumulate at low levels, displaying typical characteristics of profit distribution at high levels. Currently, there are a total of 2.6 million BTC in a loss state in the market, mainly 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.