On-chain data shows Bitcoin long-term holders have ramped up their selling recently, something that could lead to further plunge in the crypto’s price.
Bitcoin Exchange Inflow CDD Has Spiked Up Over The Last Day
As pointed out by an analyst in a CryptoQuant post, the current rise in the CDD is the largest since 6th October.
A “Coin Day” is the quantity that 1 BTC accumulates after staying still for 1 day in a single address. If a coin that has amassed some number of Coin Days finally moves to another wallet, its Coin Days counter resets, and the Coin Days are said to be “destroyed.”
The “Coin Days Destroyed” (CDD) metric keeps note of the total number of such Coin Days being destroyed throughout