The end of the bear market bottoming range is often marked by a gut-wrenching 'sacrifice.' The market's final panic sell-off is essentially the complete collapse of the last psychological defense line for the bulls. That seemingly devastating 'final drop' is actually the thorough clearing and reshuffling of tokens from 'old hands' to 'new hands.' And the $BTC on-chain indicator, VDD Multiple, serves as a precise 'microscope' to capture this brutal process. ┌── | Indicator Details ──┐ Value Days Destroyed (VDD) Multiple is an advanced indicator derived from 'Coin Days Destroyed.' • Core Logic: It measures the activity of 'old coins' being moved. When long-term holders (LTH) surrender their tokens due to extreme panic, a large number of dormant 'coin days' are destroyed. • Counterintuitive Bear Bottom Phenomenon: During the bottoming range at the end of a bear market, while the price undergoes a despair-inducing 'final drop,' the VDD Multiple often experiences a violent spike. • The Truth Behind It: This violent upward spike in the indicator corresponds to the turnover of deeply buried 'ancient coins' triggered by panic. When even the most steadfast holders start 'cutting losses' or getting liquidated, the market's weak hands are finally cleansed. The darkest hour is just before dawn, and this final drop is the last hurdle before the light. The pulse-like surge of the VDD Multiple is often the ultimate signal of market bottoming and the cross-era handover of tokens.