Analyst: The market is at a structural baseline level, with no signs of panic selling at present

Jinse Finance reported that Cryptoquant analyst Axel Adler Jr released a market analysis stating that over the past month, the activity of "old coins" has remained at a moderate level. The Average Spent Output Lifespan (ASOL) of tokens moved per day briefly rose to 245 days on October 8 and to 209 days on October 21, but these peaks are far below those seen in the spring and June—when long-term holders (old coin holders) showed significantly increased activity. The 30-day moving average remains around 111 days, indicating that the market is at a structurally baseline level, with no signs of panic selling. Holders are not in a hurry to take profits; in addition, as I mentioned in my Sunday Substack column, new liquidity continues to absorb tokens entering the market.