Within the Bitcoin ecosystem there is a very interesting metric to anticipate the maximum of bullish periods “Coin Days Destroyed” (CDD), also known as “Bitcoin Days Destroyed” (BCD).

Coin Days Detroyed (CDD) is a metric that attempts to quantify Bitcoin activity by considering both the number of coins moved and the time they have been inactive. In other words, it measures how many “coin-days” have been “destroyed” each time a transaction is made. This metric is based on the premise that the longer coins sit idle before being spent, the greater their value in terms of “coin-days.”

The Coin Days Destroyed calculation is made by multiplying the number of coins that are being moved by the number of days they have been inactive.

CDD = Coins Moved x Inactive Days

Coins moved are the amount of bitcoin that is transferred.
Inactive days represents the number of days those coins have been inactive prior to the transaction.

An improvement of the metric is to weight this value by the ratio between the amount of bitcoin in circulation today (CurrentSupply) with the maximum BTC that there will be (TotalSupply) adjusted to the 90-day moving average to smooth daily fluctuations and highlight long-term trends by giving the BDD Terminal Adjusted 90 days MA indicator.

BDD 90 dMA = CurrentSupply * Sum (CoinAge * CoinValue) / TotalSupply

More information at chainexposed

A high CDD value suggests that coins that have been dormant for a long period of time are being moved. This can be interpreted as a possible sale by long-term holders or a reorganization of investor portfolios.