Or is that why Bitcoin price can't break a new record? Analysis Company Explains the Reason for Price Pressure

Crypto analysis firm Alphractal pointed to a recent change in behavior among short-term wallets (STH), indicating a potential concern for Bitcoin. Please provide the text to be translated. The company stated in its statement that short-term investors who have held Bitcoin for less than 155 days are increasingly selling their BTCs and that this trend could affect the BTC price if it continues.

Alphractal’s analysis focuses on the “Accumulation and HODLer Distribution” metric, which tracks the inflow and outflow of Bitcoin from addresses held by short-term investors. Daily changes in this metric indicate a growing interest among these investors to dispose of their Bitcoins.

Alphractal said, ‘When analyzing monthly changes, it is clear how the accumulation and distribution waves of STH supply are strongly correlated with Bitcoin’s price movement.’ The company noted that interest in accumulating Bitcoin has steadily decreased since December 5th, which has created downward pressure on BTC price.

Alphractal warns against overreacting to the current trend, acknowledging the sentiment-driven nature of this metric. The statement said, “This does not prevent Bitcoin from rising again in the future, as we saw in 2021.” However, the firm noted that current behavior indicated many investors are motivated to profit at current price levels, which could hinder short-term price increases.

The distribution trend among short-term holders, especially if it gains momentum, may be cautious for Bitcoin’s short-term expectations. However, as Alphractal also pointed out, it is not a definitive metric and may retreat towards accumulation, especially if market conditions improve or long-term bullish factors come into play.