According to CoinMeta, analyst IT Tech pointed out that in the past 30 days, among BTC with a holding period of 6-12 months, only 4.4% have flowed into exchanges, which is significantly lower than the 40.4% seen in mid-June. The monthly trading volume has remained between 143,700 and 216,500 BTC, but the proportion flowing into exchanges has dropped from 40.4% in mid-June to 4.4% in mid-October. High-level buyers have basically stopped selling, reducing the resistance to price increases, but there is currently no significant new buying interest in the market.