BTC Four-Year Cycle Series (32)

676 days from the January 2021 VDD peak to the bear market bottom 679 days from the March 2024 VDD peak to $60k ┌── | Indicator Details ──┐ The Bitcoin VDD indicator stands for Value Days Destroyed. It’s a key on-chain metric for Bitcoin, primarily used to measure the selling behavior of long-term holders (HODLers) and the market spending velocity, helping to identify market cycle stages. The chart shows the VDD Multiple, calculated as: 30-day VDD average ÷ 365-day VDD average. This is an oscillating indicator that reflects the deviation of short-term spending velocity relative to the long-term average. VDD peaks indicate large-scale profit-taking by long-term holders, signaling that the market has entered an overheated phase.