Bitcoin Dormancy
Dormancy measures how long, on average, the coins spent on a given day had been dormant beforehand - an indicator of when and how intensely 'sleeping' old supply wakes up.
Preview: the last 90 days of real data, up to September 27, 2026. The full history and live data are available with Cedvel Pro.
Source: dormancy_1y (bitview.space / Bitcoin Research Kit)
What is it?
Measures how long, on average, the coins spent on a given day had been dormant beforehand - an indicator of when and how intensely 'sleeping' old supply wakes up.
How is it calculated?
Dormancy = (total 'coin days destroyed' by all coins spent that day) / (total amount of coins spent that day) - i.e. the average waiting time per spent coin.
How to read it
Rising dormancy shows that old/long-dormant coins are moving - generally seen either during a strong uptrend's profit-taking (experienced holders selling) or during outright capitulation moments. Low dormancy shows that trading volume is coming predominantly from fresh/short-term coins.
Things to watch out for
Direction alone (whether it's signaling an uptrend or downtrend trigger) is ambiguous - it should be read together with price/trend context; evaluating it alongside CDD (total coin days destroyed) gives a clearer picture.
Historical usage
Rising dormancy periods have historically been seen either during a strong uptrend's profit-taking (experienced holders selling) or during outright capitulation moments; low dormancy shows that trading volume is coming predominantly from fresh/short-term coins.
Frequently Asked Questions
How is Dormancy calculated?
Dormancy = (total 'coin days destroyed' by all coins spent that day) / (total amount of coins spent that day) - i.e. the average waiting time per spent coin.
What does a high or low Dormancy value mean?
Rising dormancy shows that old/long-dormant coins are moving. Low dormancy shows that trading volume is coming predominantly from fresh/short-term coins.
What's the difference between Dormancy and CDD?
Both are based on the same underlying data (coin age × amount), but Dormancy shows the AVERAGE waiting time per spent coin, while CDD is a total quantity (its supply-adjusted version is comparable across periods).