CryptoQuant Analyst: Bitcoin Investors With Holding Periods of 6 to 12 Months Most Active in Selling

Dec. 26 (Bloomberg) -- The Spent Output Age Bands (SOAB) indicator shows that long-term holders (LTHs) of bitcoin locked in significant profits during the November-December 2024 bull market, CryptoQuant analyst Yonsei_dent said. Selling activity was most active among investors with holding periods of six to 12 months, who mostly purchased bitcoin at the beginning of the year when spot ETFs were launched, and their selling activity put some downward pressure on the bitcoin price. However, strong demand has kept the bitcoin price in the $90,000 to $100,000 range. Meanwhile, investors with a holding period of more than a year sold less during the period, and the ‘Binary CDD’ indicator showed that bitcoin's old-coin sales declined in December compared to November, suggesting that the majority of long-term holders may still be expecting further price gains.