A drop in the Coin Days Destroyed Multiple suggests that older Bitcoin holdings are largely inactive, indicating that long term investors are not selling and overall selling pressure remains limited.
Bitcoin briefly approached 76,000 dollars on Tuesday, reaching a level not seen in six weeks, despite ongoing global uncertainty as the conflict in the Middle East entered its third week.
Figures from Alphractal reveal that Bitcoin’s Coin Days Destroyed Multiple has declined to its lowest point since 2022, showing that older coins are moving very little.
Long Term Investors Continue Holding
Alphractal noted that this metric tracks the intensity of Coin Days Destroyed compared to its historical average, allowing analysts to evaluate whether long term holders are selling more or less actively.
Recent data indicates that older Bitcoin remains mostly untouched, highlighting consistent holding behavior among experienced investors.
The analysis also suggests that many of these holders had already sold portions of their assets at higher price levels, leaving the current market largely driven by newer circulating supply. The low reading of the metric further reflects reduced selling pressure from older holdings.
In past cycles, similar low levels have been linked to consolidation periods, where limited activity from long term holders often comes before major market moves.
At the same time, data from Santiment shows a strong increase in market optimism during Bitcoin’s recent price movement. Fear of missing out has climbed to its highest level since January 2, with social media activity this week showing a bullish to bearish comment ratio of 1.67 across platforms including X, Reddit, and Telegram. Positive sentiment has clearly outweighed negative views.
Additional data indicates that buyer activity is beginning to recover after significant selling in February. Despite rising geopolitical tensions and expectations that the Federal Reserve will keep interest rates unchanged at the upcoming FOMC meeting, CryptoQuant reports that Bitcoin has remained relatively resilient compared to traditional assets such as equities and commodities.
Buyers Gradually Regain Control
Data from Binance and Coinbase shows a gradual shift in trading volume toward buyers. On February 16, the 30 day average volume delta was strongly negative, standing at minus 145 million dollars on Binance and minus 88 million dollars on Coinbase, reflecting widespread selling from both retail and institutional participants. This has since turned positive, reaching approximately 21 million dollars and 14 million dollars respectively.
Although this marks a notable improvement, analysts caution that overall liquidity is still low, and the trend requires further confirmation before it can fully support a sustained price increase.#crypto#cryptonews https://t.me/coinsignalpublic https://coinsignals.net
