CryptoQuant Analyst: Investors holding Bitcoin for 6 to 12 months are the most active in selling Bitcoin

2024-12-26 22:24:35

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ChainCatcher news, CryptoQuant analyst Yonsei_dent stated that the Spent Output Age Bands (SOAB) metric provides insights into Bitcoin consumption (i.e., selling) categorized by the holding period of investors. In the Bitcoin bull market of November and December 2024, long-term holders (LTHs) realized significant potential profits, indicating that some investors sold a portion of their held Bitcoin to lock in gains.

Investors with a holding period of 6 to 12 months were the most active in selling Bitcoin. These investors primarily purchased Bitcoin during the launch of the Bitcoin spot ETF in early 2024. The selling activity from this group may have exerted downward pressure on Bitcoin prices. However, strong demand still kept Bitcoin within the range of $90,000 to $100,000.

Investors holding Bitcoin for over a year sold very little Bitcoin during this period.

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