2020-03-13 UTC

COVID crash — long-term holder capitulation

Bitcoin loses ~50% in 24 hours as global markets collapse. CDD spikes as panic selling pulls old coins out of cold storage and onto exchanges.
cdd spike
33,384,644.00
BTC·days
2.57
z-score vs baseline

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ChainQuery.com event: COVID crash — long-term holder capitulation (2020-03-13). chainquery.com/events/2020-03-13-covid-capitulation

Comparable events

2017-12-17
Bitcoin ATH at $19,783 — long-term holders distribute
Top of the 2017 cycle. CDD lands in the elevated band as years-dormant coins move to exchanges. A textbook OG-holder distribution pattern at a market top.
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