Bitcoin remained below $60,000 at press time.volatility is evident, as its price struggles to maintain the crucial $60,000 range.
This reduction in liquidity can be a positive sign for Bitcoin’s price, as it indicates that fewer holders are looking to sell their BTC. The move reduces the selling pressure on the market.Furthermore, the ongoing decline in exchange reserves is likely driven by long-term holders . This behavior reflects a strong belief in Bitcoin’s future value and a reluctance to engage in short-term trading.
The CDD metric tracks the movement of older Bitcoins that have accumulated “coin days” while remaining unspent. Each Bitcoin earns a “coin day” for everyday it is held in a wallet without being moved.
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