Analyst: Long-term holders are moving large amounts of Bitcoin to the market for sale, which will only slow its upward momentum

According to a report by Jinse Finance, Cryptoquant analyst Axel Adler Jr has released a market analysis indicating that an unusually high monthly Coin Days Destroyed (CDD) to annual CDD ratio has been observed, reaching as high as 0.25. This mainly occurred when Bitcoin prices were in the $106,000 to $118,000 range, a level comparable to the historical peak in 2014 and the correction period in 2019. This suggests that long-term holders (LTH)—investors who have kept their Bitcoin dormant for years—are moving large amounts of Bitcoin to the market for sale. The surge in CDD indicates that experienced market participants are actively distributing their holdings. However, at the same time, treasury demand and Bitcoin ETF inflows remain high. Therefore, although long-term holders are selling, this distribution is unlikely to completely halt the current upward trend and will only slightly slow its pace.