Long-term holders are an important segment of the market, and monitoring their behavior can provide valuable insights into future market trends. The Binary Coin Days Destroyed (CDD) metric is a key tool for analyzing their activity. Spikes in this metric often signal potential selling pressure from long-term holders.

Currently, the Binary CDD metric is experiencing a significant spike, coinciding with Bitcoin’s new all-time high of $108K. This spike suggests that long-term holders may see this price level as a good time to distribute their assets. If this selling pressure increases, it could lead to further volatility and a potential price correction. However, optimism towards BTC remains.