Dormancy carried into exchanges — Coin-days destroyed by exchange deposits — old dormant coins arriving at exchanges = experienced holders distributing
Exchange inflow CDD follows the movement or balance of Bitcoin at labeled market participants: Dormancy carried into exchanges. It helps put exchange, whale, miner and custody activity into context.
High values mean OLD coins are arriving at exchanges — long-term holders waking up to distribute. Young-coin inflow barely moves this metric.
Entity labels are probabilistic and wallets are often reorganized. A flow is evidence of movement, not proof of an investor's intent or a future price move.