Are we entering early BTC distribution? Finally,

Are we entering early BTC distribution?

Finally, although spending by LTHs is currently moderate, the prevailing conditions may be a sign of early stages of distribution. Especially with the Long-Term Holder Binary Coin-Days Destroyed Z-Score having climbed above 5.

If the trend persists, while there’s no catalyst for a breakout to the upside, a market correction could occur.

If BTC fails to hold $100,413 support, the next logical level would sit near $97k.

Now, LTH spending has remained moderate. Meanwhile, short-term holders (STHs) have shown little inclination to sell. Especially with BTC still below $107k – An area that would typically spark broader participation.

Therefore, amid low volatility and moderate spending by LTHs, the most plausible outcome will be that BTC will trade sideways between $104k and $107