As a result, all averaged data is gradually returning to normal levels.
💥 Looking at Coin Days Destroyed (CDD), we can clearly observe a sharp decline following that event.
What’s particularly interesting is that this decrease has reached a level well below the previous spike.
Beyond the Coinbase-related move, this suggests that LTH activity is cooling down.
BTC movements are becoming less frequent, implying a reduction in selling pressure from these participants.
💡 For those less familiar with this indicator, CDD simply measures the number of holding days of a UTXO before it is spent.
When long-held BTC start moving, it is often in preparation for selling.
This decline in CDD is a positive signal, as LTHs still represent the largest potential source of selling pressure, given they hold the biggest share of the total supply.
👉 A reduction in LTH selling pressure helps relieve the market and could contribute to the formation of a bottom if this trend persists.
