BlockBeats News, July 15th, Cryptocurrency market analyst gaah referenced CryptoQuant data in a post stating that the Bitcoin Long-Term Holder (LTH) vs. Short-Term Holder (STH) position ratio has reached a 30-month high. This indicator is used to measure the distribution of Bitcoin supply between long-term holders and short-term holders.

The analysis pointed out that this indicator's extremely high levels usually do not occur at the market's peak of euphoria but rather during a re-accumulation phase. Historically, the top of a bull market often occurs as this indicator begins to fall from its peak, not when it hits a new high. Currently, with the Bitcoin price still about 50% lower than the previous all-time high, long-term holders are continuing to absorb circulating supply.