Bitcoin CDD Shows Uptick In Coin Movement — Early Signs of Profit-Taking?

Bitcoin has maintained its position above the $100,000 mark since early May, peaking at $112,000 and signaling strong bullish sentiment. This historic breakout has set the stage for a potentially massive run, as institutional demand, macroeconomic pressure, and on-chain dynamics align. However, despite bullish control, the market is beginning to show signs of hesitation. Growing global tensions, particularly around trade policies and rising US Treasury yields, are creating uncertainty across financial markets, and Bitcoin is not immune.

On-chain data sheds light on evolving investor behavior. The Coin Days Destroyed (CDD) indicator—which tracks how long Bitcoin has been held before being moved—reveals that while the 90-day moving average remains moderate around 14 million CDD, the 21-day moving average is ticking upward. This suggests that some long-term holders are starting to move their coins, a potential sign of early profit-taking or preparation for volatility. Although the increase is not extreme, it adds a layer of caution to the bullish narrative.

As Bitcoin consolidates around current levels, analysts are watching closely for a clear signal. Whether this movement foreshadows a breakout or a broader correction remains to be seen, but momentum remains on the bulls’ side for now.

Bitcoin Consolidates As CDD Signals Cautious Optimism

Amid escalating global tensions, Bitcoin appears to be holding its ground, trading steadily above the $105,000 mark. After reaching an all-time high of $112,000, the price has entered a consolidation phase as bulls defend critical demand while struggling to confirm a new breakout. This period of sideways movement reflects uncertainty across financial markets, as systemic risks grow and macroeconomic volatility—fueled by an unstable bond market—continues to mount.

Despite the indecision, some on-chain data suggests Bitcoin may be preparing for its next major move. Top analyst Darfost shared insights based on the Coin Days Destroyed (CDD) metric, which tracks the activity of long-term holders by measuring how long coins are held before being moved. While the 90-day moving average of CDD remains at a healthy, moderate level around 14 million, the 21-day average shows a noticeable uptick. This indicates that more coins are being moved recently, potentially signaling early stages of selling or a shift in holder sentiment.

However, this movement doesn’t necessarily point to immediate sell-offs. Instead, it may be a sign of increased caution among long-term holders, positioning for volatility rather than rushing for the exits. Historically, major CDD spikes have preceded cycle tops or capitulation events, but current levels remain far from those extremes.

In short, Bitcoin’s recent price action reflects a balance between bullish strength and cautious behavior. As global uncertainty lingers and capital continues to flow into hard assets, Bitcoin’s ability to remain above $105,000—even with mixed sentiment and technical pressure—highlights the asset’s resilience. Whether this resolves into a push above $112K or a deeper retrace depends largely on how macroeconomic risks evolve and whether long-term holders continue to sit tight or start exiting.

Price Action Details: Holding Above Key Levels

Bitcoin is trading near $105,357 after a mild 0.52% decline, testing key support levels following a retracement from its $112,000 all-time high. The chart shows BTC holding above the crucial $103,600 support zone, which aligns with the 34-day EMA at $103,114, a level that bulls must defend to avoid deeper losses. The $109,300 resistance level remains intact and continues to cap upward momentum.

The recent price structure suggests Bitcoin is consolidating within a clear range between $103,600 and $109,300. This phase follows an aggressive rally throughout April and May, where BTC broke above multi-month resistance zones. As long as the current higher low structure is maintained, the uptrend remains technically valid.

The moving averages (50, 100, and 200-day) are all trending upward, a bullish signal, but price is currently wedged between them, showing indecision. The declining volume also supports this sideways action. A breakout above $109,300 would confirm renewed bullish strength, while a close below $103,600 could trigger a shift in sentiment.

For now, all eyes remain on macroeconomic drivers and market volatility. If Bitcoin holds these levels and begins to climb again, it could signal the next leg of the cycle. Until then, caution prevails as traders await confirmation of direction.

Featured image from Dall-E, chart from TradingView