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Glassnode’s latest analysis highlights a significant drop in Bitcoin’s Binary Coin Days Destroyed (CCD) indicator, signaling reduced activity from long-term holders. This trend reflects a decrease in sell-side pressure, suggesting that seasoned investors are holding firm. However, the market may require fresh catalysts to encourage supply movement. The CCD metric measures the selling behavior of long-term holders, and its current decline points to a more stable market environment. As Bitcoin continues to consolidate, all eyes are on potential triggers that could reignite activity in the market.
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Sohrab Khawas
Sohrab Khawas
Author
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Jan 22, 2025 14:08 UTC
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Bitcoin Holders Stay Firm: Sell Pressure Eases Amid Reduced Activity
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