[Analyst: Long-term holders accumulate 371,000 BTC in 30 days, supply continues to tighten but demand remains insufficient] CryptoQuant analyst Axel Adler Jr. stated in a post that Bitcoin long-term holders are still accumulating coins, with a net increase of approximately 371,000 BTC over the past 30 days, bringing total holdings to 16.34 million BTC, a new all-time high. The accumulation trend has remained positive for 186 consecutive days. Meanwhile, the CDD indicator, which measures whether old coins are being moved by calculating the product of dormant days and transfer amounts, is currently at 313 million, significantly lower than last year's 899 million. This indicates that long-term holders are still holding rather than selling. However, prices have not risen as a result. Over the past year, prices have dropped from $118,600 to $63,800. The analyst pointed out that while reduced supply decreases the number of coins available for sale, it does not directly drive prices higher. Price increases require buyers willing to purchase.