Bitcoin Price on the Brink: Are Veteran Investors About to Trigger Sell-Off Fears as Prices Tumble to $74,604?

Bitcoin is facing testing times. Earlier today, its price dropped to $74,604 before rebounding slightly to hover above $79,000. Despite this slight recovery, Bitcoin price remains down by 3.1% over the past 24 hours and nearly 30% from its January peak of 109,000. A new analysis has just come out that suggests long-term holders may be preparing for a Bitcoin selloff. This raises concerns about further market declines. 

Old Bitcoin Holders Moving: A Bearish Signal?

A recent report by CryptoQuant analyst IT Tech has shown a significant spike in the Exchange Inflow Coin Days Destroyed (CDD) metric. This metric is a measure of older Bitcoins moving after long periods of dormancy. Historically, such spikes come right before significant price declines. This surge in the CDD metric came at a time when Bitcoin was on its way down to $76,000 from $82,000.

This signals that long-time holders may be transferring their coins to exchanges with the intent of a Bitcoin selloff. Such behavior usually adds downward pressure on the prices, especially during already volatile conditions. If these long-term holders continue liquidating their positions, it could mark an inflection point for the Bitcoin price. The movement of dormant coins back into circulation has been a bearish indicator because it suggests that even seasoned investors are uncertain. 

Short-Term Metrics Show Cooling Momentum

Adding to the bearish outlook, CryptoQuant analyst Bilal Huseynov noted short-term holder behavior using realized price data from UTXO age bands. Currently, the realized price for coins held between one and three months is trending downward. Similar patterns have been observed during previous market peaks in 2021 and recently in March 2025. If this trend continues, new investors may face losses, which could drive the Bitcoin price lower. 

While Bitcoin has shown resilience in past bear markets by finding support at these levels, the combined signals from long-term and short-term data suggest caution ahead. Will Bitcoin live out this storm soon, or are deeper corrections pending? Only time will tell. For now, let’s take a look at the latest Bitcoin price performance and form a BTC price prediction for today. 

BTC Price Analysis: Bitcoin Shows Signs of Quick Recovery

Bitcoin commenced trading yesterday at $78,478. With oversold conditions looming, it quickly went on an uptrend, trying to test the $79,900 resistance, but the golden cross could not support it to that level. A death cross formed at 2:15 PM, leading Bitcoin into decline. By 7:05 UTC, Bitcoin had dropped to a concerning $74,567. The market was heavily oversold at this point. A trend reversal occurred soon, taking Bitcoin up to find resistance at $77,500.

Chart 1: published on TradingView, April 8, 2025

It faced brief resistance at this point before the golden cross at 13:50 helped it spike up to $81,216, as overbought conditions were noticed. The price correction arrived with a death cross at 15:05, as Bitcoin stabilized near $77,500. The support levels kept climbing as Bitcoin ascended. The uptrend eventually found resistance at $80,900. The overbought levels brought in some correction, but Bitcoin found stable support at $79,600. 

BTC Price Prediction: Will Bitcoin Continue The Bullish Movement?

The ‘Black Monday’ hit the crypto landscape hard, and Bitcoin bore the brunt of it as well. However, in the last 24 hours, Bitcoin has staged a valiant recovery. As of now, Bitcoin has strong support at $79,600. Given that, it has a robust chance of giving the $80,900 resistance a hard time. But it is worth noting that as the MACDs interact, a break below the support level could spell danger for today.