PANews reported on August 4th that CryptoQuant analyst Abramchart observed that long-term Bitcoin holders (LTH) remain in a healthy profit range (NUPL above 0.5), demonstrating strong holding confidence and willingness. Short-term Bitcoin holders (STH) fluctuate around lower profit levels, suggesting potential selling or short-term pressure during price increases. Currently, Bitcoin's price is near $104,000, primarily supported by the confidence of long-term holders. While the overall trend remains bullish, short-term holdings may trigger periodic pullbacks.