ChainCatcher Message, CryptoQuant analyst Yonsei_dent provided some interesting insights into the Bitcoin market. Through the Spent Output Age Bands (SOAB) metric, we can observe the behavior of investors with different holding periods in Bitcoin consumption (i.e., selling).

During the bull market in November and December 2024, long-term holders (LTHs) realized significant potential profits by selling some of their Bitcoin. Investors with holding periods of 6 to 12 months were the most active in selling, particularly those who purchased Bitcoin when the spot ETF was launched in early 2024.

Nevertheless, the strong demand in the market still supports Bitcoin prices fluctuating between $90,000 and $100,000. Investors who have held Bitcoin for over a year hardly sold during this period. 📈