PANews reported on May 23 that according to Glassnode data, Bitcoin broke through its all-time high yesterday, but the on-chain profit-taking volume was only about $1 billion, less than half of the $2.1 billion when it first broke through $100,000 in December last year. Data shows that the proportion of new coins in circulation for less than one month has risen to 76.9%, while the activity of old coins over half a year has dropped to 13.4%, indicating that the market is dominated by short-term transactions, and long-term holders tend to continue to wait and see, reflecting that the overall bullish expectations are still strong.