Indicator Overview

The indicator tracks the total amount of Coin Days Destroyed (CDD) attributed solely to Long-Term Holders (LTHs). LTHs are defined as wallets holding coins last moved more than 155 days ago. CDD is a transactional volume metric that weights the amount of BTC moved by the number of days the coins were held. By filtering for LTHs, this metric isolates the selling pressure originating from the strongest hands who have held their coins for a significant period. High values indicate a large volume of old, accumulated coins are being spent.

How To Use

LTH CDD is crucial for identifying macro-cycle turning points by monitoring the distribution activity of the most resilient investors. Look for high, sharp spikes in LTH CDD, particularly during the later stages of a strong bull run. These spikes signal that large volumes of old, profitable coins are being distributed (sold) into the market, indicating that the strongest hands are taking profits. Historically, these events coincide with major market peaks. Very low, suppressed readings for extended periods indicate that LTHs are firmly holding their positions and are not spending their supply. This lack of movement from the most patient cohort points to a strong conviction and accumulation phase, often confirming a major market bottom.