Increased activity among long-term bitcoin holders suggests a major correction ahead of the upcoming halving

| One correction possible before BTC halving in April

In a January report, crypto fund EMC Labs predicted that "BTC is likely to see a price correction before its halving." "Looking at past halving data, BTC tripled from its lows before the bull market began. There was a correction before the halving and that correction was due to profit taking volume. Compared to previous halves, the current correction lacks breadth and duration.

| BTC Long-Term Holder Activity Increases...Price Could Rise

Citing the binary Coin Days Destroyed (CDD) indicator, a metric that reflects the behavior of long-term holders, Mignolet, a contributor to South Korean crypto research firm CryptoQuant, said: "Bitcoin transfers from long-term investors have increased. In general, long-term holder activity increases during bull cycles and decreases during bear cycles. This pattern repeats itself in every cycle. Furthermore, while it remains to be seen, bitcoin has broken out of the accumulation zone. This suggests that a full blown bull cycle is likely to begin.