- Coin Days Destroyed has fallen to a high of 1.3 million to 650,000 indicating a decrease in the movement of long held coins in Bitcoin.
- SOPR of the long-term holders dropped to 1.26 or the lowest since November 2024, indicating the smaller profits realized and decreased selling.
- Although the sell pressure decreased, long-term holders are still at the core of Bitcoin markets, and trends are still defining a liquidity and market position.
Long-term holder (LTH) activity has eased as key metrics, Coin Days Destroyed (CDD) and Spent Output Profit Ratio (SOPR), indicate reduced selling pressure in the Bitcoin market.
Cooling Trend in Coin Days Destroyed
Recent on-chain data shows a considerable decline in CDD, which measures the holding duration of Bitcoin being moved. After reaching a monthly average peak above 1.3 million, the metric has now fallen by half to nearly 650,000. This shift brings CDD back below its yearly average, though the annual figure still remains elevated.
CDD provides valuable insight into LTH behavior, since movement from these wallets often signals readiness to sell. When older coins are transferred, the metric captures the event instantly, offering an early gauge of market positioning. Current readings suggest reduced urgency from long-term investors to liquidate holdings.
Observers note this cooling pattern may continue, given the sharp drop in monthly averages. If sustained, the data indicates a period where selling initiated by LTHs could remain at lower levels compared with recent months.
SOPR Weakens to Lowest Level Since Late 2024
Alongside the CDD trend, realized profits for long-term holders have also shown visible weakening. The LTH SOPR has fallen to 1.26, the lowest level recorded since November 2024. On a monthly average, SOPR peaked near 3 before dropping sharply to 1.70.
At its earlier peak, the metric reflected a 200% profit margin for coins sold by long-term investors. The latest average translates to a 70% profit, a marked decrease suggesting declining profitability from recent sales. This progression indicates LTHs are currently realizing smaller gains than in prior months.
As profit-taking decreases, the aggregate sell-side pressure by long-term holders seems to have eased. This declining pattern has also been accompanied by wider market realignments and is still under monitoring by analysts regarding future realignments.
LTHs Remain a Key Market Force
Even with reduced selling, the role of long-term holders remains central to market behavior. Their activity continues to signal early changes in liquidity and potential momentum shifts.
While recent cooling in both CDD and SOPR suggests less immediate pressure, LTH movements remain an important metric for traders and analysts. These patterns often shape short-term market sentiment, even when broader dynamics are in play.
As market conditions evolve, the focus on LTH behavior stays relevant. Their selling actions, profit-taking levels, and on-chain signals continue to guide assessments of Bitcoin’s near-term environment. Monitoring these metrics provides consistent clarity on how longer-term investors adjust to shifting trends.
