Analysts: Long-term holders are transferring Bitcoin to the market on a large scale for sale, and this behavior will only slow down its rise.

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According to a report by Jinse Finance, Cryptoquant analyst Axel Adler Jr has released a market analysis indicating that the current market is observing an unusually high monthly capital destruction degree (CDD)/annual capital destruction degree (CDD) ratio, reaching a value of 0.25. This mainly occurs when the Bitcoin price is in the range of $106,000 to $118,000, and this ratio is comparable to the historical high in 2014 and the levels during the correction period in 2019. This means that long-term holders (LTH), or investors who have kept their Bitcoin dormant for years, are transferring their Bitcoin to the market for sale on a large scale. This surge in CDD indicates that experienced market participants are engaging in aggressive distribution. However, at the same time, treasury demand and Bitcoin ETF inflows remain high. Therefore, despite long-term holders selling off, this distribution behavior is unlikely to completely halt the current upward trend, but will only slightly slow its pace of increase.

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WaitingForTheFlowersvip
· 07-24 06:04
Does this still need analysis?
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GateUser-faa22035vip
· 07-24 04:44
It seems that a big dump is unavoidable, and we should be able to see the results in September.
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