Analyst: Long-term BTC holders remain calm amid correction

Long-term Bitcoin holders are remaining calm amid the market correction that has heightened anxiety among short-term investors, according to on-chain analyst Darkfost. On X, he noted that a 2020 Glassnode study found that BTC held for over 155 days is significantly less likely to be moved. Darkfost pointed to the Cumulative Value Days Destroyed (CVDD) indicator, a key metric for tracking selling by long-term holders, which has fallen to around 0.3—a level historically seen during bear markets or major corrections. In contrast, when the CVDD surged past two and even four in March 2024, it was widely interpreted as a market top signal accompanied by active selling from this cohort. He assessed that long-term holders are currently maintaining their composure and are likely to wait for higher prices before taking profits, suggesting this may be the most prudent course of action at present.