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According to a report by Golden Finance and the latest data analysis from on-chain platform Glassnode, the spending of Bitcoin long-term holders has first dropped to its lowest level since June 10. The current supply held by long-term holders is close to the ATH, at approximately 14.7 million Bitcoins. Analysis shows that despite recent market fluctuations, experienced investors still exhibit strong confidence in holding their coins and are unwilling to sell their assets. This holding behavior reduces the circulating supply in the market, and if demand increases, it may lead to a natural supply tightening, creating conditions for a potential rise in Bitcoin prices.