Bitcoin Holders Stay Calm As CDD Drops And Buyers Step In
The post Bitcoin Holders Stay Calm As CDD Drops And Buyers Step In appeared on BitcoinEthereumNews.com. Bitcoin’s Coin Days Destroyed (CDD) is trending lower, suggesting reduced selling activity from long-term holders. Realized Price keeps rising, indicating that investors are still accumulating Bitcoin during the current market consolidation. Amid the uncertain Bitcoin market conditions, there is one interesting signal observed by on-chain analyst Darkfost on CryptoQuant: selling pressure from long-term holders is starting to alleviate. This is clearly seen through the Coin Days Destroyed (CDD) indicator, which has decreased in recent times despite the price of Bitcoin dancing above $110,000. For those unfamiliar, CDD measures the “age” of Bitcoin when it is moved from a wallet, with higher values indicating longer periods of inactivity. However, the current trend shows CDD dropping to 500,000, a neutral level, suggesting potential light profit-taking by long-term holders without signs of panic selling. The heatmap also reflects a calm pattern rather than significant selling pressure.
On the other hand, on-chain analyst Crypto Dan noted that investors are still purchasing Bitcoin despite its high price. The Realized Price indicator, reflecting the average BTC purchase price, has been steadily climbing since the beginning of 2024. This trend signifies ongoing confidence in Bitcoin’s value appreciation. Crypto Dan suggests that if this buying trend continues, Bitcoin’s price could see further increases post the current consolidation phase, indicating sustained market demand.
The current Bitcoin market scenario remains uncertain, with BTC trading around $103,816.60 at press time, down 2.00% over the last 24 hours and 6.88% over the past 30 days.
