This Bitcoin Metric Suggests Selling Pressure May Be Reaching Exhaustion

On-chain data shows the Bitcoin binary CDD has been going down recently, a sign that selling pressure may be getting exhausted in the market.
Bitcoin 21-Day MA Binary CDD Has Been Observing Downtrend Recently
As pointed out by an analyst in a CryptoQuant post, there was some heavy distribution going on in the market just a while ago. The relevant indicator here is “Coin Days Destroyed” (CDD). A coin day is the amount that 1 BTC accumulates after sitting still in a single address for