According to CoinMeta, as analyzed by analyst Darkfost, the proportion of short-term holders in the Bitcoin market (STH) has decreased. Among them, those holding for less than 1 day account for 1.2%, those holding for 1 day to 1 week account for 2%, those holding for 1 week to 1 month account for 5.6%, those holding for 1 to 3 months account for 6.7%, and those holding for 3 to 6 months account for 8.1%. Darkfost believes that the reduction in the number of such holders, combined with low market demand, is a phenomenon that has occurred at the end of previous bear markets.