Recent price fluctuations in Bitcoin have raised investor concerns, yet data indicates that long-term holders maintain their assets, suggesting consolidation.
What Are Long-Term Bitcoin Holders Doing Right Now?
Despite recent volatility, long-term Bitcoin holders, defined as those holding for over 155 days, show no signs of selling, indicating their confidence in future price appreciation.
Understanding the On-Chain Signal: Binary Coin Days Destroyed
One key metric for analyzing long-term holder behavior is the 30-day average of Binary Coin Days Destroyed (CDD). A low CDD indicates a lack of large-scale selling among long-term holders.
Is This Bitcoin Consolidation or Something Else?
The price action around $100,000 signals a potential consolidation phase rather than a bear market, with long-term holders not contributing to selling pressure.
Long-term Bitcoin holders reflect a strong market conviction, suggesting that current consolidation may pave the way for future upward movements.
