Cryptocurrency data analysis platform CryptoQuant has revealed that since late May, the number of short-term holders of Bitcoin (less than 155 days of holding) has been continuously declining. This points towards a weakening of demand for Bitcoin. According to Julio Moreno, Research Director at CryptoQuant, this phenomenon indicates a persistent softness in Bitcoin demand. On the other hand, it is observed that long-term holders appear to be utilizing this situation to augment their holdings of Bitcoin. Moreno further explains that should there be an increase in demand for Bitcoin again, this dynamic might change, possibly resulting in short-term holders acquiring Bitcoin from long-term holders. IT Tech, a contributor to CryptoQuant, analyses that these market dynamics could result in mid-term price appreciation and market stability. The accumulation of Bitcoin by long-term holders could contribute to price stabilization, preparing the market for potential recovery; conversely, sales by short-term holders might impact the Bitcoin price negatively in the short term. Data suggests that funds are moving from less dominant groups (short-term holders) to more dominant ones (long-term holders), indicating a state of market stability.