Bitcoin Enters Transition Phase as Dormant Coins Begin Moving 

• Bitcoin on-chain data points to a market reset despite rising CDD activity.
• Dormant Bitcoin is moving again, but low exchange inflows suggest limited selling pressure.
• Long-term holders remain confident as MVRV and NUPL signal a healthier market balance.

Bitcoin on-chain data shows the market is more balanced than simply being in a “bull” or “bear” phase. 

While Coin Days Destroyed (CDD) has shown some major spikes in July, other indicators, such as NUPL and MVRV, suggest that the market is cooling down rather than experiencing a major sell-off.

The data points to a healthy market reset, where long-term holders are becoming more active, but there are few signs of panic selling or large-scale profit-taking.

Dormant Bitcoin Is Starting to Move

Notably, CDD tracks the movement of older Bitcoin by measuring how long coins remained inactive before being…

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