Bitcoin CDD Spikes as Long-Term Holders Start Moving Coins — Is the Profit-Taking Cycle Beginning?
Bitcoin's Coin Days Destroyed (CDD) metric just flashed a warning sign—long-dormant coins are on the move. Are early investors finally cashing out after the latest rally?
When CDD rises, it means older coins are being spent—often a precursor to market shifts. This time? Could be the first tremors of profit-taking before the next big move.
Wall Street analysts would call this 'prudent risk management.' Crypto OGs call it 'weak hands.' Either way—someone’s taking chips off the table while the SEC still can’t decide if Bitcoin is a security or a collectible.
Bitcoin Consolidates As CDD Signals Cautious Optimism
Amid escalating global tensions, Bitcoin appears to be holding its ground, trading steadily above the $105,000 mark. After reaching an all-time high of $112,000, the price has entered a consolidation phase as bulls defend critical demand while struggling to confirm a new breakout. This period of sideways movement reflects uncertainty across financial markets, as systemic risks grow and macroeconomic volatility—fueled by an unstable bond market—continues to mount.
Despite the indecision, some on-chain data suggests Bitcoin may be preparing for its next major move. Top analyst Darfost shared insights based on the Coin Days Destroyed (CDD) metric, which tracks the activity of long-term holders by measuring how long coins are held before being moved. While the 90-day moving average of CDD remains at a healthy, moderate level around 14 million, the 21-day average shows a noticeable uptick. This indicates that more coins are being moved recently, potentially signaling early stages of selling or a shift in holder sentiment.
However, this movement doesn’t necessarily point to immediate sell-offs. Instead, it may be a sign of increased caution among long-term holders, positioning for volatility rather than rushing for the exits. Historically, major CDD spikes have preceded cycle tops or capitulation events, but current levels remain far from those extremes.
In short, Bitcoin’s recent price action reflects a balance between bullish strength and cautious behavior. As global uncertainty lingers and capital continues to FLOW into hard assets, Bitcoin’s ability to remain above $105,000—even with mixed sentiment and technical pressure—highlights the asset’s resilience. Whether this resolves into a push above $112K or a deeper retrace depends largely on how macroeconomic risks evolve and whether long-term holders continue to sit tight or start exiting.
Price Action Details: Holding Above Key Levels
Bitcoin is trading NEAR $105,357 after a mild 0.52% decline, testing key support levels following a retracement from its $112,000 all-time high. The chart shows BTC holding above the crucial $103,600 support zone, which aligns with the 34-day EMA at $103,114, a level that bulls must defend to avoid deeper losses. The $109,300 resistance level remains intact and continues to cap upward momentum.
The recent price structure suggests Bitcoin is consolidating within a clear range between $103,600 and $109,300. This phase follows an aggressive rally throughout April and May, where BTC broke above multi-month resistance zones. As long as the current higher low structure is maintained, the uptrend remains technically valid.
The moving averages (50, 100, and 200-day) are all trending upward, a bullish signal, but price is currently wedged between them, showing indecision. The declining volume also supports this sideways action. A breakout above $109,300 WOULD confirm renewed bullish strength, while a close below $103,600 could trigger a shift in sentiment.
For now, all eyes remain on macroeconomic drivers and market volatility. If Bitcoin holds these levels and begins to climb again, it could signal the next leg of the cycle. Until then, caution prevails as traders await confirmation of direction.
Featured image from Dall-E, chart from TradingView
