Indicator Overview

The indicator tracks the total amount of Coin Days Destroyed (CDD) attributed solely to Short-Term Holders (STHs). 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 STHs (coins held for less than 155 days), this metric isolates the selling pressure originating from newer market participants who are typically more sensitive to price movements. High values indicate significant profit-taking or panic selling by STHs.

How To Use

Look for high spikes in STH CDD during or immediately following significant price rallies, as these signal heavy profit-taking by STHs, suggesting the market is nearing a local or major top as short-term sentiment peaks. Conversely, very low, suppressed readings often occur during periods of low volatility or consolidation after a major drop. This indicates that even the STH cohort is not moving their coins, pointing to a lack of selling pressure and potential market exhaustion at a bottom. Any abrupt, large spike suggests a major transfer of coins, which could be either a flush-out of weak hands (panic) or large capital movements (profit-taking), requiring confirmation from other metrics.