Coin Days Destroyed (CDD)

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Coin Days Destroyed measures how long the coins moved on a given day had sat unspent. Every coin accrues one coin day per day it stays put; when it moves, the amount moved times the days since its last move is counted as destroyed. The daily sum is shown in BTC-days.

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Moving a coin held for a year destroys 365 times as many coin days as moving one held for a day, so the metric mostly tracks long-term holders. Historically, readings have climbed in the later stages of bull markets as old coins are distributed, with spikes common near tops, while bear markets have brought long quiet stretches.

Daily values are noisy: exchanges and custodians reshuffling cold wallets, or holders moving coins between their own addresses, create spikes with no selling behind them, so check exchange flows before reading one as selling. Follow the 30-day average for the trend, and note that a growing supply lifts readings naturally over time.