Bitcoin’s Supply-Adjusted Coin Days Destroyed (CDD) remains relatively low despite recent price volatility, suggesting limited distribution from long-term holders.
Over the past year, Supply-Adjusted CDD spikes have generally aligned with major local tops, reflecting periods when long-term holders realized profits at scale. Outside of these episodic spikes, the indicator has stayed muted for most of the cycle, even during sharp price swings.
In the most recent one-month window, we observe a brief surge in Supply-Adjusted CDD, followed by a rapid normalization. This pattern suggests isolated profit-taking rather than sustained long-term holder distribution. Importantly, the indicator has not entered a persistent high regime, which historically would signal broader structural selling pressure from older coins.
Overall, current Supply-Adjusted CDD behavior indicates that long-term holders are largely maintaining their positions. While short-term volatility remains, the lack of sustained CDD expansion implies that recent price weakness is not being driven by aggressive long-term holder exits.
Written by KriptoCenneti
