📊 Bitcoin: CDD Multiple Signals Strong Long-Term Holder Conviction
CDD Multiple has dropped to its lowest level since 2022, indicating that old BTC is barely moving and long-term holders are not selling. Many have already distributed coins at higher prices, resulting in the market circulating mostly younger supply.
What the Metric Shows
CDD Multiple measures the intensity of Coin Days Destroyed relative to its historical average. By normalizing current CDD against a long-term baseline, it reveals whether long-term holders are spending coins at unusually high or low rates.
When the Metric is Low:
• Old coins remain dormant
• Long-term holders are holding
• Selling pressure from mature supply is minimal
Historically, these periods often occur during consolidation phases before the next major move. Data > Narratives.
CDD Multiple has dropped to its lowest level since 2022, indicating that old BTC is barely moving and long-term holders are not selling. Many have already distributed coins at higher prices, resulting in the market circulating mostly younger supply.
What the Metric Shows
CDD Multiple measures the intensity of Coin Days Destroyed relative to its historical average. By normalizing current CDD against a long-term baseline, it reveals whether long-term holders are spending coins at unusually high or low rates.
When the Metric is Low:
• Old coins remain dormant
• Long-term holders are holding
• Selling pressure from mature supply is minimal
Historically, these periods often occur during consolidation phases before the next major move. Data > Narratives.
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