CryptoQuant analyst Axel Adler Jr. said on X that Bitcoin long-term holders have added about 371,000 BTC on a net basis over the past 30 days, lifting total holdings to 16.34 million BTC, the highest level on record. He also said the accumulation trend has stayed positive for 186 straight days.
Adler pointed to Coin Days Destroyed, or CDD, as another sign that older coins are not moving in size. The indicator currently stands at 313 million, down from 899 million a year ago, which he said suggests long-term holders are still holding rather than selling.
He added that a shrinking supply only reduces the amount of BTC available for sale. In his view, price gains still require fresh buying demand. Over the past year, Bitcoin’s price has fallen from $118,600 to $63,800, according to his post.
CryptoQuant analyst Axel Adler Jr. said in a post on X that Bitcoin long-term holders have increased their net holdings by about 371,000 BTC over the past 30 days, bringing total holdings to 16.34 million BTC, a new all-time high. He added that the accumulation trend has remained positive for 186 consecutive days.
At the same time, Adler said the Coin Days Destroyed, or CDD, metric is now at 313 million, below the 899 million recorded a year ago. He said the reading suggests long-term holders are still holding their coins instead of selling. Over the past year, Bitcoin’s price fell from $118,600 to $63,800.
Adler also said that lower supply only reduces the number of coins available for sale, while a price increase still needs buying demand.
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