Bitcoin CDD appears in the coin movement – early signs of profitability?
Bitcoin has maintained its position above $100,000 since early May, reaching a peak of $112,000 and expressing strong bullish sentiment. This historic breakthrough lays the foundation for possible large-scale runs due to institutional demand, macroeconomic pressures and chain dynamics stability. But despite bullish controls, the market is still showing signs of hesitation. Increasing global tensions, especially around trade policies and the increase in U.S. Treasury bonds, create uncertainty among financial markets, and Bitcoin has no immunity.
On-chain data illustrates evolving investor behavior. Coin Day Destroyed (CDD) indicator (tracking how long Bitcoin has been held before it is moved), which is the 21-day moving average is still rising, although the 90-day moving average is still around 14 million CDD. This suggests that some long-term holders are starting to move coins, which is a potential sign of early profit or preparation for volatility. Although the increase is not extreme, it adds to the caution of bullish narratives.
As Bitcoin merges around current levels, analysts are paying close attention to clear signals. Whether the sport predicts a breakthrough or a wider correction remains to be seen, but the momentum remains on the Bulls’ side.
Bitcoin consolidates as CDD signal cautiously optimistic
Bitcoin appears to hold its ground amid escalating global tensions, trading steadily above $105,000. After hitting an all-time high of $112,000, the price entered the merger phase as the Bulls defended critical demand as they worked to confirm new breakthroughs. The period of horizontal movement reflects uncertainty in the financial markets as the growth of systemic risks and macroeconomic fluctuations (burning by the unstable bond market) continue.
Despite the hesitation, some on-chain data suggests that Bitcoin may be preparing for the next big move. Top analyst Darfost shared insights based on the Crucible Coin Day (CDD) metrics that track long-term holders’ activity by measuring the holding time of holding coins before moving. Although the CDD’s 90-day moving average is still in a healthy, medium level of about 14 million, the 21-day average shows a significant increase. This suggests that more coins are being moved recently, which may issue early stages of sales or shifts in holders’ emotions.
However, this movement does not necessarily point to immediate selling. Instead, this may be a sign of long-term holders being cautious, positioning fluctuations rather than rushing to export. Historically, the major CDD spikes have been at the top of the cycle or before the surrender event, but the current levels are far from these extremes.
In short, Bitcoin’s recent price action reflects a balance between bullish forces and cautious behavior. As global uncertainty persists and capital continues to flow into hard assets, Bitcoin maintains its ability to exceed $105,000 (even with mixed emotional and technical pressures), the resilience of these assets can be. Whether this can address the driving force above $112K or a deeper review depends largely on the development of macroeconomic risks and whether long-term holders continue to sit down or start to exit.
Price action details: Hold above key levels
Bitcoin traded close to $105,357 after it fell by 0.52% at 0.52%, testing key support levels after its ever-$112,000 backtrack. The chart shows that BTC holds above the crucial $103,600 support zone that matches the 34-day EMA for $103,114, which is the level the Bulls must avoid deeper losses. The $109,300 resistance level remains intact and continues to tilt upwards.
Recent price structures suggest that Bitcoin merges within a clear range of $103,600 to $109,300. Throughout April and May, BTC exploded in aggressive rallies in resistance zones over several months. As long as the current high low structure is maintained, the upward trend remains technically effective.
The moving averages (50, 100 and 200 days) are all on an upward trend, which is a bullish signal, but the current price hangs between them, showing hesitation. The dropping volume also supports this side action. A breakthrough above $109,300 will confirm new bullish forces, while a close below $103,600 may trigger a shift in sentiment.
Currently, everyone is concerned about macroeconomic drivers and market volatility. If Bitcoin keeps these levels and starts climbing again, it may mark the next step in the cycle. Before that, act cautiously as traders wait for direction confirmation.
Featured images from DALL-E, charts from TradingView
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