The amount of Bitcoin held by short-term investors is experiencing a steady decline, currently dropping close to levels that were last recorded in 2016. In practical terms, this indicates that easily shaken participants, commonly known as weak hands, are depleting the coin reserves they have available to sell. When we examine past market cycles, a supply transition of this specific nature usually emerges during the later stages of bear markets. Even with this shift in available supply, however, actual market demand still needs to make an appearance.