Definition ∞ Coin Days Loss is an on-chain metric that quantifies the destruction of “coin days” when older bitcoins are spent. A coin day is created when one bitcoin remains unspent for one day. When these older coins move, the accumulated coin days are “destroyed,” indicating long-term holders are selling. This metric offers insight into the behavior of seasoned market participants.
Context ∞ A substantial Coin Days Loss event in the cryptocurrency market often signals significant selling pressure from long-term holders. This can occur during periods of market volatility or after considerable price increases, as these holders realize profits. Analyzing this metric provides context for understanding shifts in market sentiment and potential supply dynamics.
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