The distribution of long-term BTC holders is clearly slowing down in its acceleration. Starting to rebound from extreme net outflow levels, what does this indicate? The market is gradually absorbing the supply that has been locked up for a long time. The key point is—most of the large-scale selling pressure supply has basically been digested. In other words, the old chips that have been troubling the market are gradually being accepted by new participants, and this change in supply dynamics may signal a rebalancing of the market structure.