Yonsei_dent2024-03-22

<BTC Movement over the Past 6 Months as Seen through CDD Indicators>

The CDD (coin-days destroyed) indicator tends to increase in value as the spending activity of long-term investors rises. The Binary CDD indicator🟩 presents an all-or-none indication based on whether the Supply-Adjusted CDD is above or below the average value. Over the past 6 months, both the Binary CDD and 🟠Supply-adjusted CDD indicators have gradually increased. During this period, the price appreciation rate was approximately +186%, suggesting a transition of BTC from long-term holders (LTH) to short-term holders (STH). This pattern closely resembles the movement seen during the latter half of 2020, when the previous bull market began in earnest. During a similar period, the price appreciation rate was about +180%, and the patterns of Binary CDD and the magnitude of increase in Supply-adjusted CDD were also notably similar. Predicting that future market movements will mirror those of the past is risky, but it's undeniable that the current movement closely resembles past trends.