Bitcoin Long-Term Holders Start Capitulating Amid Panic

Bitcoin Long-Term Holders Start Capitulating Amid Panic

On-chain data suggests Bitcoin long-term holders have started to capitulate recently as the sharp price drop causes panic in the market.

Bitcoin CDD Inflow Indicator Jumps Up, Showing Long-Term Holders Have Been Selling

As pointed out by a CryptoQuant post, the recent price drop has pushed long-term holders towards selling their BTC.

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“Coin days” are the number of days a Bitcoin has remained dormant for. An example: if 1 BTC doesn’t move for 5 days, it accumulates 5 coin days.

When such a coin would be transferred or moved, its coin days would be “destroyed” as the number will reset back to zero.

Related Reading | Bitcoin Slips Below $33k As Exchange Inflows Reach Highest Value Since July 2021

The “coin days destroyed” (CDD) metric naturally

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