Cryptoquant analyst Axel Adler Jr published a market analysis stating that the current market is observing an unusually high monthly capital destruction (CDD)/annual capital destruction (CDD) ratio, which is as high as 0.25. This mainly occurs when the bitcoin price is in the $106,000 to $118,000 range, which is comparable to the all-time high in 2014 and the correction period in 2019.
This means that those long-term holders (LTHs), investors who have kept their bitcoins dormant for years, are moving their bitcoins to the market on a large scale for sale. This CDD surge indicates that experienced market participants are actively distributing.
At the same time, however, treasury demand and inflows into bitcoin ETFs remain high, so while long-term holders are selling, this distribution is unlikely to stop the current uptrend outright, but will only slow it slightly.
Analysts: Long-term holders are moving bitcoin to the market on a large scale, which will only slow its rise
2025-07-24 04:33:16
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