Bitcoin News Today: Bitcoin Long-Term Holders Sell as CDD Ratio Reaches 0.25 and SOPR Hits Record Highs

Bitcoin long-term holders are increasing their selling activity amid a sustained market rally, with key on-chain metrics indicating heightened profit-taking. The Monthly Cumulative Distribution Days (CDD) to Yearly CDD ratio has reached 0.25, a level previously observed during market peaks in 2014 and 2019, signaling that experienced holders are mobilizing dormant coins for sale [1]. Simultaneously, the Spent Output Profit Ratio (SOPR) for long-term holders (LTHs) has surged to record highs in 2025, reflecting elevated gains as Bitcoin approaches historical price levels [2]. These trends suggest a cautious shift in holder behavior, though analysts caution that the market has not yet reached a "top" due to moderate transaction volumes and non-excessive on-chain activity [3].

Despite the selling pressure, demand from institutional treasuries and continued investment into Bitcoin ETFs are expected to underpin the rally’s momentum [1]. The divergence between LTHs’ profit-taking and the relative inactivity of short-term holders highlights mixed signals about market sentiment. While some reports describe LTHs as "relatively inactive" compared to speculative traders, the SOPR surge underscores their confidence in Bitcoin’s value retention, with transactions involving long-held coins showing unusually high returns [4]. Analysts note that the absence of extreme distribution metrics—such as a CDD ratio exceeding 0.5—implies the current bull phase may extend further if accumulation resumes [6].

Technical analysis adds nuance to the outlook. Whale activity and miner data point to potential for a breakout, with projections suggesting Bitcoin could test $131,000 if bullish momentum persists [7]. However, these forecasts depend on the consistency of whale accumulation and on-chain metrics. Short-term holder indicators remain within historical volatility ranges, with prices near $138,000 showing no signs of overheating [8]. This dynamic illustrates a market driven by competing forces: profit-taking by LTHs and sustained buying interest from institutional and retail investors.

The broader implications for the crypto market remain uncertain. While SOPR highs have historically correlated with market tops, experts emphasize that this metric alone is insufficient to confirm a peak [9]. The critical question is whether LTHs will shift from selling to accumulation, a move that could dictate Bitcoin’s trajectory in the coming months. Optimism is fueled by robust fundamentals and institutional demand, with some analysts forecasting a breakthrough above $123,000 [10]. However, the persistence of profit-taking activity suggests caution is warranted, as prolonged selling could slow the rally’s pace even if it doesn’t halt it entirely.

Source:

[1] [Long-Term Bitcoin Holders Sell as Market Rally Continues] (https://coinpedia.org/crypto-live-news/long-term-bitcoin-holders-sell-as-market-rally-continues/)

[2] [Bitcoin Long-Term Holder SOPR Hits New High in 2025] (https://thecurrencyanalytics.com/bitcoin/bitcoin-long-term-holder-profits-reach-record-levels-what-it-means-for-the-market-186743)

[3] [BTC Long-Term Holders Realize High Profits] (https://cryptopotato.com/btc-long-term-holders-realize-high-profits-is-this-a-market-top-signal/)

[4] [Bitcoin Long-Term Holder SOPR Surges to New Highs ...] (https://www.ainvest.com/news/bitcoin-long-term-holders-sopr-surges-highs-bullish-market-conditions-2507/)

[6] [Bitcoin faces profit-taking, but 4 reasons why BTC's rally ...] (https://ambcrypto.com/bitcoin-faces-profit-taking-but-4-reasons-why-btcs-rally-isnt-over-yet/)

[7] [Bitcoin (BTC) Price: Why $131000 Could Be Next Despite ...] (https://coincentral.com/bitcoin-btc-price-why-131000-could-be-next-despite-profit-taking/)

[8] [Here's why Bitcoin analysts say BTC will break $123K] (https://cointelegraph.com/news/this-isnt-a-top-why-bitcoin-analysts-btc-will-break-123k)

[9] [Bitcoin's SOPR Metric For Long-Term Holders Climbs To ...] (https://www.mitrade.com/insights/news/live-news/article-3-979036-20250723)

[10] [Bitcoin Long-Term Holder SOPR Surges to New Highs ...] (https://www.ainvest.com/news/bitcoin-long-term-holders-sopr-surges-highs-bullish-market-conditions-2507/)