Bitcoin's VDD Multiple Indicates Accumulation Phase, Report Shows

According to Odaily, a recent report by Glassnode reveals that Bitcoin's (BTC) VDD Multiple remains in a low range, suggesting the market is still in an accumulation phase. The current market condition reflects limited spending by long-term holders and reduced distribution pressure, which is seen as a positive sign. Glassnode notes that the market is absorbing previous price increases in a 'structurally constructive manner,' a pattern typically regarded as healthy market behavior. The VDD Multiple, or Value Days Destroyed Multiple, is a significant on-chain metric for Bitcoin. It measures the ratio of short-term spending speed to the long-term average level. This indicator aids investors in understanding market behavior and potential trends.