Analyst: Bitcoin rally triggers slight uptick in long-term holder activity, 2026 remains quiet

CryptoQuant analyst Darkfost reported that the current cycle shows high activity among Bitcoin long-term holders (LTH). Using the Coin Days Destroyed (CDD) metric, the analyst noted that while recent price gains have led to a slight increase in LTH activity—potentially due to profit-taking—overall activity in 2026 remains relatively calm. The report suggests that increased liquidity from spot ETFs and corporate treasury holdings has influenced LTH behavior, though some CDD spikes are attributed to one-off events like internal transfers by Coinbase. Long-term holders are largely observed to be waiting for further market developments.