Large money flow stands outside: Long-term holders refuse to sell despite Bitcoin's sharp decline
Bitcoin has slipped below 91,000 USD after the FED's decision to cut interest rates by 25 basis points, causing strong market fluctuations.
However, on-chain data shows a contrasting story. According to CryptoQuant, the Exchange Inflow Coin Days Destroyed (CDD) index on Binance has sharply dropped to 380, the lowest since 2017.
This is a signal that most of the BTC transferred to exchanges comes from short-term investors, while long-term holders are almost not selling.
CryptoOnchain emphasizes that this is particularly noteworthy as Bitcoin is trading around 89,600 USD, but the money flow from long-term wallets remains 'still', reflecting strong confidence from large investors.
Veteran holders are not selling: A strong signal of bullish expectations
According to the analysis, CDD often rises sharply when Bitcoin approaches its peak as long-term holders take profits. However, this time it is completely reversed: old BTC is almost not flowing into exchanges, indicating that 'Smart Money' does not want to distribute supply.
CryptoOnchain explains that this means the market lacks selling pressure from the most influential group. As they note:
'The decline in CDD indicates that long-term investors do not want to sell at the current price.'
The stagnation of long-term supply has significantly reduced BTC liquidity — a factor that often signals a new bullish cycle. In other words, whales are signaling confidence, not caution.
Bitcoin is fluctuating around 90,000 USD: The trend remains weak
On the 3-day chart, Bitcoin is moving sideways around 90,000 USD, caught between the 200-day MA (support) and the 100-day MA (resistance).
This structure indicates that the market is being compressed, while the overall trend still leans towards decline. Although the 89,000–90,000 USD area is being defended, demand is generally weak and hasn't created a breakthrough. If it loses the 200 MA, the price could drop to 84,000 USD; conversely, a candle close above 98,000 USD would reopen the upward trend.
Currently, Bitcoin is still in a weak accumulation state with limited momentum.
