PANews reported on April 12 that CryptoQuant analyst Darkfost published an article on the X platform stating that BTC has entered an early stabilization phase. While the current trend is relatively mild, the supply of BTC held for more than a year is gradually recovering, indicating an early shift in market behavior.

Data shows that since mid-December last year, the 30-day change in the one-year BTC supply has remained in positive territory, indicating that investors are more inclined to hold BTC rather than sell, and the market is transitioning from a speculative environment to a phase of long-term holding. From October last year to the present, the number of BTC held for one year or more has increased from 12 million to 12.4 million. Although the increase is moderate, it highlights an important shift in market dynamics.

Historically, the one-year BTC supply tends to decrease significantly at the peak of a cycle (due to long-term holders selling off), while it gradually increases during bear markets (due to long-term investor accumulation). The current sustained increase in supply can be interpreted as an early sign of market stabilization, with tokens gradually shifting towards more committed holders.

Darkfost also cautioned that this trend is a long-term dynamic that will take time to develop and will not lead to a significant market reversal in the short term.