比特幣CDD近期大幅上漲

鏈上數據顯示，比特幣銷毀天數（CDD）最近飆升至六年來的新高。這對 BTC 的價格可能意味著什麼。

A recent uptick in on-chain activity suggests that a large number of dormant Bitcoin coins have begun to be involved in transactions again, as evidenced by the six-year high in the 60-day moving average (MA) of the Bitcoin Coin Days Destroyed (CDD).

最近鏈上活動的增加表明大量休眠的比特幣已經開始再次參與交易，比特幣銷毀天數的 60 天移動平均線 (MA) 創六年新高就證明了這一點（CDD）。

Coin days are a measure of the total time that 1 BTC has been held on the network (i.e., sitting still in a single address) for 1 day. As coins remain motionless for a number of days, they gain coin days of the corresponding amount. When they are moved, their coin days counter naturally resets back to zero, and the coin days that they had previously been holding are said to be ‘destroyed.’

幣天是衡量 1 BTC 在網路上持有（即靜止在單一地址中）1 天的總時間。由於硬幣在幾天內保持靜止，因此它們會獲得相應數量的硬幣天數。當它們被移動時，它們的幣天數計數器自然會重置為零，並且它們之前持有的幣天數被稱為「銷毀」。

The CDD is an indicator that measures the total number of coin days being destroyed in this manner across the blockchain every day.

CDD是衡量每天整個區塊鏈上以這種方式銷毀的幣天總數的指標。

“This metric showcases the coin days being destroyed on the Bitcoin network each day, and as you can see in the chart below, the 60-day MA of the indicator has recently crossed the 24 million mark,” CryptoQuant analyst Maartunn explained.

CryptoQuant 分析師 Maartunn 解釋道：“該指標顯示了比特幣網路上每天被銷毀的代幣天數，如下圖所示，該指標的 60 天均線最近已突破 2400 萬個大關。”

To put things into perspective, the last time the indicator was at such a high level was back in 2016.

從長遠來看，該指標上一次處於如此高的水平還是在2016年。

CDD movements from the long-term holders (LTHs) are usually indicated by spikes in the metric. The LTHs, who hold tightly through rallies and crashes alike and accumulate vast amounts of coin days in the process, are the steadfast entities in the sector.

長期持有者 (LTH) 的 CDD 變動通常由指標中的峰值表示。 LTH 在漲勢和崩盤中都堅守陣地，並在此過程中積累了大量的幣日，是該行業中堅定的實體。

Only when they believe it’s time to sell do the LTHs typically break their silence; thus, high CDD values can indicate that these diamond hands are participating in a selloff.

只有當 LTH 認為是時候賣出時，他們才會打破沉默。因此，高 CDD 值可能表明這些鑽石手正在參與拋售。

Some sort of top in the Bitcoin price has frequently coincided with peaks in the indicator, as can be seen from the chart. This trend was last seen in Q1 2024.

從圖表中可以看出，比特幣價格的某種頂部經常與指標的峰值同時發生。這種趨勢上次出現是在 2024 年第一季。

It’s possible that the latest potential selloff from the LTHs could also have a similar effect on the cryptocurrency, given this historical pattern. This may also already be in action, as the asset has been following a bearish trajectory since its top above the $108,000 level in mid-December.

鑑於這種歷史模式，LTH 的最新潛在拋售也可能對加密貨幣產生類似的影響。這也可能已經在發揮作用，因為該資產自 12 月中旬突破 108,000 美元水平以來一直遵循看跌軌跡。

At press time, Bitcoin is trading around $95,600, having risen almost 3% in the last 24 hours.

截至發稿時，比特幣交易價格約為 95,600 美元，在過去 24 小時內上漲了近 3%。