Recent market analysis of Bitcoin has indicated a slowdown in activity among long-term holders. The Binary Coin Days Destroyed (CDD) indicator shows a decline in activity, reflecting calmness in the market.
Binary CDD Indicator and Activity Decline
The Binary CDD indicator shows a notable decrease in activity among old Bitcoin holders. It tracks the onset of $BTC shifts from dormant wallets. Current data indicates that old holders are not making significant transfers, suggesting a phase of accumulation or market stabilization.
Bitcoin Market Status: Accumulation or Decline
The Binary CDD data indicates a significant reduction in activity, possibly suggesting a transition to an accumulation phase. Increased Binary CDD values typically signal sell-offs from long-term investors, but the current situation reflects a lack of mass selling.
Long-term Holders and Their Confidence in Bitcoin
According to analyst Axel Adler Jr., the activity level of old Bitcoin holders is currently 50% of the 365-day moving average. This shows that long-term investors are holding their positions, which contradicts previous cycles where they aggressively sold at peaks. The decrease in Binary CDD data may indicate expert holders' confidence in Bitcoin's long-term trajectory.
Currently, the Binary CDD indicator shows market calmness and lack of activity among long-term Bitcoin holders, potentially reflecting a positive outlook from investors on Bitcoin's future.
