Bitcoin experienced significant selling pressure earlier today, dropping to a low of $74,604. However, as of this writing, the cryptocurrency is making a subtle recovery, with prices rising back above $79,000.
Despite this minor rebound, Bitcoin is still down by 3.1% over the past day and nearly 30% from its January peak, which surpassed $109,000. According to CryptoQuant contributor IT Tech, a notable shift could be on the horizon.
Old Coins Begin to Move: Is a Sell-Off Imminent?
In a recent analysis titled “Massive spike in Exchange Inflow CDD signals old coins are waking up,” IT Tech highlighted a significant increase in the Exchange Inflow Coin Days Destroyed (CDD) metric, which tracks the movement of older coins that haven’t changed hands for a significant period.
The movement of coins that have accrued high coin days typically suggests that long-term holders are shifting their assets to exchanges, possibly signaling an intention to sell.
Historically, spikes in the Exchange Inflow CDD have often preceded significant price corrections. IT Tech pointed out that the latest increase in this metric coincided with Bitcoin’s descent from $82,000 to $76,000, indicating that some long-term holders may be getting ready to liquidate their assets.
This type of activity tends to increase sell pressure in the market, especially during periods of volatility. These dynamics could suggest a turning point, with older investors possibly looking to lock in profits amid broader market uncertainties. Should this trend continue, it could signal bearish behavior, as long-dormant coins re-enter the market.
Bitcoin Short-Term Metrics Suggest Possible Cooling Trend
In a separate analysis, another CryptoQuant analyst, BilalHuseynov, provided insights into short-term holder behaviors based on realized price data.
In a post titled “Bitcoin: Realized Price – UTXO Age Bands,” the analyst explored how the realized prices of coins held by short-term investors—specifically those held for one week to one month and one to three months—can indicate the health of the current market trend.
These UTXO age bands help assess whether recent buyers are holding onto their assets at a profit or in a loss position. During bullish trends, these bands usually trend upwards, signaling accumulation, while at market peaks, they tend to flatten or dip, suggesting distribution by short-term participants.
According to Huseynov, this is reflected in the current data, with the realized price of coins held for 1 to 3 months curving downward. This pattern resembles previous peaks seen in April and November 2021, as well as more recently in March 2025.
If this trend persists, it might indicate that newer holders are experiencing losses and could soon capitulate, potentially resulting in further price declines. Conversely, in prior bear cycles, these bands have often indicated bottom zones where prices regained support and reversed direction.
Featured image created with DALL-E, Chart from TradingView
