According to online reports, online data analyst Murphy posted on social media that the average cost of long-term Bitcoin holders (LTH) has suddenly increased rapidly recently, with the cost change rate reaching 9.57% on the 7th. In addition to the conversion of some short-term holders (STH) high-priced chips to LTH, there must be some low-cost long-term chips sold, raising the overall cost. Now the average cost of LTH is about US$31,000, indicating that many chips costing less than US$31,000 have been sold, causing the overall cost to rise rapidly. Murphy further explained that LTH holders, as "diamond hands", usually rarely operate, and their selling actions are basically based on "panic" or "risk aversion". There is no "panic" in the current situation, so it may be LTH felt that the price was close to the top of their prediction and began to gradually withdraw (LTH's judgment may also be wrong).