CryptoQuant contributor binhdang analyzed that according to the Cumulative Value Days Destroyed (CVDD), a Bitcoin on-chain indicator, there appears to be potential for a further rise in BTC price. CVDD is used to identify Bitcoin price lows and is calculated based on the BTC storage period and the number of days destroyed when BTC is moved to another wallet, multiplied by the price. This indicator has accurately identified price bottoms in 2015, 2019, 2020 (black swan event), and 2022. When combined with the Accessing Tops indicator, it suggests that the current price may be approaching a peak or correction. With high expectations for the launch of a BTC spot ETF, short-term investors may drive the BTC price higher, according to the CVDD index. 📊🚀 #BitcoinOnChainAnalysis #BTCPricePrediction