Bitcoin Cycle Tops Always Come With CDD Spikes — This Time, It’s Flat

Price volatility is back on the surface, with Bitcoin testing key resistance levels and sentiment swinging between cautious optimism and defensive positioning. Yet beneath the noise, one of the most reliable on-chain indicators for identifying cycle tops — Coin Days Destroyed (CDD) — remains conspicuously inactive.

Across every major Bitcoin top in history, CDD has always produced a clear spike, reflecting the exit of long-term holders. Currently, it shows no such movement.

This analysis outlines how CDD functions, its historical significance, and why its present flat reading suggests accumulation and compression — not distribution.