[CryptoQuant: Increased Selling by Bitcoin Long-Term Holders, Decline in New Demand] On November 7, CryptoQuant's Head of Research Julio Moreno analyzed that it is normal for Bitcoin long-term holders to sell during a bull market, which usually occurs when prices hit new highs. In early and late 2024, as demand grows, the selling by long-term holders is expected to increase simultaneously, driving prices to new highs. However, since October this year, selling by long-term holders has increased, but new demand has declined, making it difficult to absorb the supply at higher prices.