In March 2024, Bitcoin hit a new all-time high. It has since sparked debates among investors about whether this marked the peak of the...
hit a new all-time high. It has since sparked debates among investors about whether this marked the peak of the bull market or not. Now, while some argue this could be the final top, on-chain data suggests otherwise.
What this means is that while the March peak represented a significant interim high, it likely wasn’t the ultimate peak of the current cycle. By extension, the trend in the CDD metric indicated that there is still potential for further price hikes in the coming months.CDD is an important on-chain metric that tracks the movement of older, long-held Bitcoin. It provides insights into when long-term holders are selling, giving a clearer picture of the market’s maturity and possible future trends.
This growing supply is a sign that long-term holders are capitalizing on the lower prices, reinforcing the belief that the market still has room for further upside. Especially as these key investors continue to hold and accumulate, rather than sell.price struggle has persisted, with AMBCrypto’s analysis of its daily chart showing a decline of over 3% in the last trading session. The decline brought its price down to around $56,000.
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