News

The Spent Output Age Bands (SOAB) indicator shows that long-term holders (LTHs) locked in significant profits during Bitcoin's November-December 2024 bull market, according to CryptoQuant analyst Yonsei_dent. Selling activity has been most active recently among investors with holding periods of six to 12 months, who purchased bitcoin at the beginning of the year when spot ETFs were launched, and this selling activity has put some downward pressure on bitcoin's price. However, strong demand has kept the price in the $90,000 to $100,000 range. Meanwhile, investors with a holding period of more than a year sold less during the period, and the ‘Binary CDD’ indicator showed that bitcoin's old-coin sales declined in December compared to November, suggesting that the majority of long-term holders may still be expecting the price to rise further.

On December 26, analysts Nancy Lazar and Dave Wigglesworth from financial company Piper Sandler stated that the holiday season would bring fluctuations to the seasonal adjustments used in unemployment claim data. However, the difference between initial claims for unemployment benefits and ongoing claims reflects a deeper trend: The number of first-time applicants for unemployment benefits has remained relatively stable, dropping to 219,000 in the most recent week, while the number of those still unemployed and continuing to claim benefits has risen to its highest level since the end of 2021. This suggests that everything is normal for most people with jobs - there hasn't been a surge in layoffs - but once unemployed, it's hard to find new work. This aligns with a labor market that is cooling down but not yet collapsing.