Bitcoin (BTC) is about to end its first quarter with its worst performance since 2019. Without an unexpected recovery, the BTC could close the quarter with a 25% drop from its historic record (ATH).

Some analysts have observed that Bitcoin’s experienced holders are entering an accumulation phase, signaling potential price growth in the medium term.

Signs that veteran investors are accumulating again

According to Axeladlerjr, March 2025 mark A transitional period in which veteran investors pass from selling to maintain and accumulate. This change is reflected in the Indicator Value Days Destroyed (VDD), which remains low.

VDD is an on-chain indicator that tracks the behavior of investors measuring the number of days that Bitcoin remains without movement before being traded.

A high VDD suggests that older bitcoins are being moved, which may indicate pressure to sell whale or long -term holders. A low VDD suggests that most transactions involve short -term holders, which have a lower impact on the market.

Historically, low VDD periods often precede strong highs of price. These phases suggest that investors are accumulating Bitcoin with expectations of future price increases. Axeladlerjr concludes that this change signals Bitcoin’s growth potential in the medium term.

The transition from experienced players to a maintenance phase (accumulation) signals the potential for greater BTC growth in the medium term, predicted AxeLadlerjr .

Bitcoin sales risk reaches low

At the same time, the analyst there highlighted Another optimistic indicator: the risk ratio on the sales side of Bitcoin fell to 0.086%.

According to there, in the last two years, every time this relationship has fallen below 0.1%, Bitcoin has experienced a strong price recovery. For example, in January 2024, Bitcoin rose to a then $ 73,800 record after the risk ratio on the sale side drops below 0.1%.

Similarly, in September 2024, Bitcoin reached a new peak after this indicator reaches a low level.

The combination of veteran investors accumulating Bitcoin and a sharp drop in the risk -side ratio is positive signs for the market. However, a recent analysis of the benchrypto warns about worrying technical standards, with a cross of death beginning to form.

In addition, investors remain cautious about the potential volatility of the market in early April. Uncertainty stems from President Trump’s next announcement about a large retaliatory tariff.