Bitcoin Binary CDD 30-Day MA Reaches 0.6, Below Previous Peaks

On-chain data indicates that the Bitcoin Binary Coin Days Destroyed (CDD) has not yet reached previous peak levels seen during past price tops.

Current Binary CDD Status

The 30-day moving average of the Bitcoin Binary CDD is approximately 0.6.
Binary CDD measures the total number of 'coin days' reset when dormant coins are moved.
Large spikes in CDD usually indicate that long-term holders may be preparing to sell, potentially signaling bearish market trends.
Binary CDD values range from 0 (below historical average) to 1 (above historical average).
The current value of 0.6 is below the 0.8 level reached during last year's rally highs and the 2021 bull run.

Despite the recent increase in activity among long-term holders, their behavior suggests the potential for further upward movement in the current Bitcoin rally.

BTC Price Update

Bitcoin's price is currently around $102,300, reflecting a rise of over 3% in the past week.

Bitcoin Price Chart