2The crypto market has showcased an impressive run surpassing traditional in terms of growth as well as resilience. Bitcoin’s price trajectory, for one, offered a compelling glimpse into its robust health. Over the past year, the flagship crypto has [posted over 65% gains.from Bitfinex Alpha, the diminishing Coin Days Destroyed metric offers a unique perspective on the current market conditions.
Such a trend is indicative of investors’ belief in the value proposition and future potential of Bitcoin, the report explained. Meaning – that even the ongoing rally might not be sufficient to entice the most steadfast supporters to part with their holdings.Bitfinex Alpha also pointed out that the current market is seeing low sell-side liquidity which is supported by the fact that largeholders are refraining from selling.
On the other hand, entities holding a smaller amount of Bitcoin in the 10-100 BTC range are experiencing noticeable upticks in the SOVB metric. This suggests that it’s probably the smaller holders who are currently contributing to the selling pressure.
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