Spending behaviour

Coin Dormancy (CDD, BTC-days)

Combines how much bitcoin moves today with how long each coin had sat still, giving more weight to old coins that suddenly become active.

Why it matters

A spike means old coins — presumably "strong hands" — are moving all at once. It doesn't say where price will go, only that long-term holders are actively repositioning, which has historically often preceded a rise in volatility.

Build it yourself

Multiply how much BTC moved by how old that coin was — that's the whole weight behind dormancy.

CDD = BTC spent × average age (days)
Coin-days destroyed

There are no fixed bands: a spike is read against the series' own recent history, not an absolute threshold.

Illustrative example numbers for practice — not real data.

How it's calculated, step by step

  1. For every input spent in a block: age in days = block date − the date that output was created.
  2. Contribution = age in days × BTC amount spent.
  3. All of the day's contributions are summed in cdd_daily.cdd_btc_days.
Coincident signal. A CDD spike is information about behaviour, not a price-direction prediction on its own.

Chart

This is real Bitcoin data, computed from the blockchain — not the illustrative example above.

Data last updated on 2026-09-09.

← All indicators