According to online reports, CryptoQuant analyst Yonsei said that the Spent Output Age Bands (SOAB) indicator showed that long-term holders (LTHs) locked in significant profits during Bitcoin's bull market from November to December 2024. Investors with holding periods of 6 to 12 months have been the most active selling recently. Most of these investors bought Bitcoin when the spot ETF was launched at the beginning of the year, and their selling activities have caused certain downward pressure on the price of Bitcoin. However, strong demand kept Bitcoin prices in the $90,000 to $100,000 range. At the same time, investors with holding periods of more than one year sold less during this period, and Binary CDD indicators showed that sales of old bitcoin decreased in December compared with November, indicating that most long-term holders may still expect prices to rise further.