Analyst: Long-term holders are massively transferring Bitcoin to the market for sale, an action that will only slow its upward momentum

Cryptoquant analyst Axel Adler Jr released a market analysis stating that the current market is observing an unusually high monthly capital destruction rate (CDD)/annual capital destruction rate (CDD) ratio, with a value as high as 0.25. This primarily occurs when Bitcoin prices are in the range of $106,000 to $118,000, and this ratio is comparable to the historical highs of 2014 and the levels during the correction period of 2019.

This indicates that long-term holders (LTH), investors who have kept their Bitcoin dormant for years, are massively transferring their Bitcoin to the market for sale. This surge in CDD suggests that experienced market participants are engaging in active distribution behavior.

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 ascent. $BTC #加密立法新纪元