Who Profited During Bitcoin’s $100,000 Surge? Analyst Breaks Down the Data

Who Profited During Bitcoins $100,000 Surge？ Analyst Breaks Down the Data

Bitcoin ongoing price movement has sparked intense analysis as it continues to hover below the $100,000 mark. Despite reaching an all-time high above $108,000 last week, the cryptocurrency has struggled to maintain upward momentum ever since.

With this performance, BTC‘s on-chain data has been brought to the spotlight to uncover the factors driving recent selling pressures and investor behavior. One key focus has been the Spent Output Age Bands (SOAB) indicator, which provides valuable insights into Bitcoin holders’ activity based on their holding periods.

Who Cashed Out Their Bitcoin Gains？

According to a CryptoQuant analyst known as Yonsei Dent, data reveals that Bitcoin investors who bought their holdings between six to twelve months ago were the most active sellers during the recent price surge.

Notably, as BTC currently still trades at a price of $95,567 down by 2.7% in the past day, the confluence of these factors—long-term holder confidence, reduced activity from older wallets, and declining exchange reserves—presents a cautiously optimistic picture for Bitcoins near-term trajectory.

However, it is cautioned that sustained buying activity will be required to break through psychological resistance levels and maintain upward momentum.