Bitcoin binary CDD is gradually rising but has not yet reached historical peaks.

The latest on-chain data shows that an important indicator measuring the activity level of long-term investors—Bitcoin binary CDD—currently has a 30-day moving average stabilizing around 0.60, indicating that the current holders' willingness to sell has not yet entered a high-intensity phase.

Although this value shows an upward trend, it has not yet reached the high-risk threshold corresponding to past price peaks.

What is 'binary CDD'? It reveals whether dormant funds are flowing.

'Coin days destroyed' is a classic on-chain data indicator used to track the activity of dormant coins on the blockchain that have been awakened and participated in trading.

When a Bitcoin that has not been moved for a long time is transferred, its accumulated 'coin days' will be considered 'destroyed.'

Such transactions typically represent long-term holders making decisions, therefore, significant changes in CDD often indicate potential market volatility.

To capture this behavior more intuitively, the 'binary CDD' simplifies the original data:

  • When the actual CDD is above the historical average, the binary value is 1,

  • and it is 0 when it is below the historical average.

In this way, market participants can more quickly assess whether the current activity level of long-term holders is significant.

It is worth noting that this indicator also takes into account changes in circulating supply, allowing it to more accurately reflect real trends.

Bitcoin is currently still in a growth cycle, with long-term holders not fully cashing out.

This indicator has been continuously rising for the past few months and is currently approaching the 0.60 level.

However, compared to the 0.80 during the peak of the 2021 bull market, there is still a considerable gap.

This indicates that although some HODLers have begun to take profits, the majority of long-term holders are still holding back and have not sold off in large quantities.

This provides some space for the current upward trend of Bitcoin.

Historically, prices often still possess upward momentum before long-term holders have significantly exited the market.

Market performance: Prices are steadily rising.

As of now, Bitcoin is priced at around 1,039,300 USD, with a cumulative increase of over 3% in the past week.

Despite facing some technical pressure, on-chain indicators show that the overall structure still has the potential for further upward movement.