Experts See No Immediate Signs of Bitcoin Whale Sell-Off

Currently, the Binary CDD metric has not reached critical levels that historically coincided with the onset of profit-taking waves by long-term investors, as noted by CryptoQuant.

This indicator tracks the “holding time” spent in the market when owners of “old supply” engage in large-scale transactions.

If Binary CDD rises amid reaching ATH, it may indicate a shift of coins from long-term holders to short-term participants.

Currently, the 30 DMA of the metric has risen to 0.6, whereas during the last phase of the bull run in 2021 and amid the setting of all-time highs in March and December 2024, the moving average exceeded 0.8.

What About Options?

On May 16 at 5:00 Kyiv/Moscow time, options on Bitcoin and Ethereum with a nominal volume of $2.66 billion and $525 million, respectively, will expire on Deribit.

? Options Expiry Alert ?

Tomorrow 08:00 UTC: Over $3.1B in BTC & ETH options expire on Deribit.$BTC: $2.66B notional | Put/Call: 0.99 | Max Pain: $100K
$ETH: $525M notional | Put/Call: 1.24 | Max Pain: $2,200

BTC skew is neutral, ETH puts slightly outweigh calls. Price… pic.twitter.com/jBj4C4tMvX

— Deribit (@DeribitOfficial) May 15, 2025

The “max pain” levels are set at $100,000 and $2,200.

Contracts on digital gold show a balanced situation; for the second-largest cryptocurrency by market cap, there is a slight put option dominance.

Earlier, Bitwise suggested not putting everything into Bitcoin and considering other assets as well.

Similarly, Amberdata recorded large call purchases on Solana with a maturity date of June 27 and a strike price of $200.

On May 9, Ethereum quotes momentarily surged by 18.8%, reaching levels above $2,300. The driver could have been the activation of the Pectra hard fork.