Foresight News reports that CryptoQuant analyst Yonsei_dent indicates that the Spent Output Age Bands (SOAB) metric provides insights into Bitcoin consumption (i.e., sales), categorized by the holding period of investors. During the Bitcoin bull market in November and December 2024, long-term holders (LTHs) realized significant potential profits, suggesting that some investors sold a portion of their held Bitcoin to lock in gains.
Investors holding for 6 to 12 months are the most active in selling Bitcoin. These investors mainly purchased Bitcoin when the Bitcoin Spot ETF was launched in early 2024. The selling activity from this group may have exerted downward pressure on Bitcoin prices. Strong demand has still kept Bitcoin within the range of $90,000 to $100,000. Investors holding Bitcoin for over a year have sold almost no Bitcoin during this period.
