Data Suggests Bitcoin Holders Remain Steadfast

Bitcoin Magazine

This is an opinion editorial by Shane Neagle, the editor-in-chief of “The Tokenist.”

Macroeconomic headwinds are continuously adding to a bearish narrative across all markets, including bitcoin.

As of October 2022, bitcoin is down more than 60% since the start of the year, yet bitcoin’s trading volume remains fairly consistent since July 2022. Does that mean the majority of holders are giving up on the prospect of bitcoin and opting to sell?

This is a complex topic to dive into, but there’s one indicator that can help us paint a picture of what’s taking place behind the noise: coin days destroyed (CDD).

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