Analyst: Bitcoin Investors With 6-12 Month Holding Periods Most Active in Recent Selling

The Spent Output Age Bands (SOAB) indicator shows that long-term holders (LTHs) locked in significant profits during Bitcoin's November-December 2024 bull market, according to CryptoQuant analyst Yonsei_dent. Selling activity has been most active recently among investors with holding periods of six to 12 months, who purchased bitcoin at the beginning of the year when spot ETFs were launched, and this selling activity has put some downward pressure on bitcoin's price. However, strong demand has kept the 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 the price to rise further.