TechFlow news, on December 26, CryptoQuant certified author Yonsei_dent stated that the Spent Output Age Bands (SOAB) indicator provides insights into Bitcoin spending (i.e., selling), categorized by investor holding periods. During Bitcoin's bull market in November and December 2024, long-term holders (LTHs) realized significant unrealized profits, indicating that some investors sold portions of their Bitcoin holdings to lock in gains.
Investors who held for 6 to 12 months were the most active in selling Bitcoin. These investors primarily bought Bitcoin around the launch of Bitcoin spot ETFs in early 2024. Their selling activity may have exerted downward pressure on Bitcoin's price. However, strong demand has continued to keep Bitcoin within the $90,000 to $100,000 range.
Investors holding Bitcoin for more than one year sold almost none during this period.
