比特币CDD近期大幅上涨

链上数据显示，比特币销毁天数（CDD）最近已飙升至六年来的新高。这对 BTC 的价格可能意味着什么。

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).

最近链上活动的增加表明大量休眠的比特币已经开始再次参与交易，比特币销毁天数的 60 天移动平均线 (MA) 创六年新高就证明了这一点（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.’

币天是衡量 1 BTC 在网络上持有（即静止在单个地址中）1 天的总时间。由于硬币在几天内保持静止，因此它们会获得相应数量的硬币天数。当它们被移动时，它们的币天数计数器自然会重置为零，并且它们之前持有的币天数被称为“销毁”。

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

CDD是衡量每天整个区块链上以这种方式销毁的币天总数的指标。

“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 分析师 Maartunn 解释道：“该指标显示了比特币网络上每天被销毁的代币天数，如下图所示，该指标的 60 天均线最近已突破 2400 万个大关。”

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

从长远来看，该指标上一次处于如此高的水平还是在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.

长期持有者 (LTH) 的 CDD 变动通常由指标中的峰值表示。 LTH 在涨势和崩盘中都坚守阵地，并在此过程中积累了大量的币日，是该行业中坚定的实体。

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.

只有当 LTH 认为是时候卖出时，他们才会打破沉默。因此，高 CDD 值可能表明这些钻石手正在参与抛售。

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.

从图表中可以看出，比特币价格的某种顶部经常与指标的峰值同时发生。这种趋势上次出现是在 2024 年第一季度。

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.

鉴于这种历史模式，LTH 的最新潜在抛售也可能对加密货币产生类似的影响。这也可能已经在发挥作用，因为该资产自 12 月中旬突破 108,000 美元水平以来一直遵循看跌轨迹。

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

截至发稿时，比特币交易价格约为 95,600 美元，在过去 24 小时内上涨了近 3%。