CryptoQuant analyst Yonsei said that the Spent Output Age Bands (SOAB) indicator shows that long-term holders (LTHs) locked in significant profits during the bull market of November-December 2024. Investors with holding periods of 6 to 12 months have been the most active in selling recently. These investors bought bitcoin when the spot ETF was launched at the beginning of the year, and their selling activity caused some downward pressure on the bitcoin price. However, strong demand kept the bitcoin price in the $90,000 to $100,000 range. At the same time, investors who held for more than a year sold less during that period, and the Binary CDD indicator showed that the number of old coins sold in December decreased compared to November, indicating that most long-term holders may still expect further price increases.