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.

Trending: After Days of Pressure, Kathy Barnette Releases a DD-214

“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

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend