Analyst: In recent months, long-term investors have been taking profits by selling, while new entrants continue to accumulate and hold for the long term.

Jinse Finance reported that CryptoQuant.com analyst Crazzyblock stated, "The pattern has remained consistent in recent months: long-term investors are taking profits by selling, while new market entrants continue to accumulate and choose to hold for the long term." This can be understood through bitcoin's realized dominance and its reflection of market behavior.