On-chain data shows the exchanges recently received a large amount of Bitcoin inflows, but so far, the asset’s price has only been going up. Bitcoin Has Seen A Spike In Exchange Inflows Recently In a new post on X, the institutional DeFi solutions provider Sentora (formerly IntoTheBlock) has talked about the latest trend in the Exchange Netflow for Bitcoin. The Exchange Netflow is an on-chain indicator that keeps track of the net amount of the asset that’s moving into or out of the wallets associated with all centralized exchanges. When the value of this metric is positive, it means the exchange inflows outweigh the exchange outflows. As one of the main reasons why investors would deposit their coins to these platforms is for selling-related purposes, this kind of trend can have a bearish impact on the asset’s price. Related Reading: Bitcoin & Ethereum Diverge—ETF Flows Just Flipped The Narrative On the other hand, the indicator being under the zero mark suggests the holders are taking out a net number of tokens from exchanges. Such a trend can be a sign that the investors are accumulating, which can naturally prove to be bullish for the cryptocurrency. Now, here is a chart that shows the trend in the Bitcoin Exchange Netflow since the start of the month: As displayed in the above graph, the Bitcoin Exchange Netflow has recently mostly been contained in the negative territory, but the latest value (yesterday’s) has been positive. In total, the investors have deposited a net $262.75 million of the asset to the exchange-connected wallets with this inflow spike. According to the analytics firm, this marks the first day of significant deposits since May 27th. As mentioned before, exchange inflows are something that can turn out to be bearish for the coin’s value. So far, however, the opposite has happened for Bitcoin, as its price has soared instead. This could indicate that even if there are some large holders looking to sell with these deposits, enough demand has surfaced at the same time that BTC has not only been able to ride out this wave of potential selling pressure, but actually add to its recovery. Related Reading: Crypto Suffers $1 Billion Flush As Musk-Trump Feud Shakes Bitcoin According to the analytics firm Glassnode, short liquidations have registered a notable uptick alongside this surge in the cryptocurrency. “Over just 4 hours, total short liquidations spiked from $105K to $359K (24H SMA),” notes Glassnode. Generally, large liquidations end up providing fuel to the price move that caused them, so in this case, it’s possible the short squeeze may have provided support to the Bitcoin rally. BTC Price At the time of writing, Bitcoin is floating around $107,900, up over 3% in the last seven days. Featured image from Dall-E, Glassnode.com, IntoTheBlock.com, chart from TradingView.com
On-chain data shows the large Bitcoin investors have added to their holdings in the past week, a sign that could be bullish for BTC’s price. Bitcoin Investors With 10 To 10,000 BTC Have Added To Their Holdings In a new post on X, the on-chain analytics firm Santiment has talked about the latest trend in the Bitcoin supply held by the 10 to 10,000 BTC investors. The on-chain indicator of relevance here is the “Supply Distribution,” which tells us about the total number of tokens that a particular wallet group is carrying right now. Related Reading: Bitcoin ATH Fails To Hype Retail—Demand Is Actually Down Addresses or investors are placed into these cohorts based on the size of their balance. For example, the 1 to 10 coins group includes all holders owning between 1 and 10 tokens of the cryptocurrency. In the context of the current discussion, the groups lying inside the 10 to 10,000 BTC range are of interest. This wide range includes some of the key holders of the sector like the sharks and whales. These investors own significant holdings, so their behavior can often be worth keeping an eye on. Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Supply Distribution of the 10 to 10,000 BTC holders over the last few months: As is visible in the above graph, the Bitcoin supply held by the 10 to 10,000 BTC investors has registered a significant jump over the past week, implying this group has purchased a net number of coins. More specifically, the members of the cohort have collectively added 79,244 BTC to their wallets in this period. At the current exchange rate, this amount converts to a whopping $8.3 billion. Related Reading: Bitcoin 3–5 Year Holders Slow Selloff—Waiting for Higher Prices? From the chart, it’s visible that this accumulation from the key investors has arrived while BTC has been going down after forming a new all-time high (ATH). This could be a potential indication that these holders still believe in the rally and see this drawdown as just a dip opportunity. That said, the 10 to 10,000 range is a bit wide, so while it does include the big-money investors, it also mixes up their behavior with some of the less-significant hands. Fortunately for Bitcoin, it would appear that the whales (1,000 to 10,000 BTC) agree with this trend of buying, as the chart shared by analyst Ali Martinez implies. As displayed in the graph, the whales of the cryptocurrency have added around 30,000 tokens to their holdings during the past few days, meaning that it’s not just the mid-sized hands buying this dip. BTC Price At the time of writing, Bitcoin is floating around $105,200, down over 2% in the last seven days. Featured image from Dall-E, Santiment.net, chart from TradingView.com
An analyst has explained how Bitcoin has been tracking Gold for a while now, which could provide hints about what may be next for BTC. Bitcoin Has Been Following In Gold’s Footsteps on 2-Day Timeframe Last year, Capriole Investments founder Charles Edwards shared in an X post how Bitcoin was following the same structure as the Gold all-time high (ATH). Below is the chart that the analyst posted back then. From the graph, it’s visible that BTC was consolidating at its 2021 ATH in a manner similar to Gold’s movement around the 1980 ATH. The latter’s consolidation ended with it breaking out and rallying to a point two times higher. Related Reading: Solana Down 13%, But This Indicator Just Turned Bullish In a new post, Edwards has shared a late update on how things ended up playing out for Bitcoin. As the consolidation around the respective ATHs already hinted, there indeed ended up being some similarity between the breakouts for the prices of the two assets as well. But this is all in the past, where does the latest Bitcoin price action stack up against Gold? Here is another chart posted by the analyst, highlighting the point BTC is currently at: As Edwards has highlighted in the graph, BTC’s breakout since the consolidation phase around the ATH has continued to resemble Gold’s, except for the fact that BTC’s volatility has been roughly twice as high, in terms of both upward and downward moves. That said, the cryptocurrency’s latest close has looked less promising than what the precious metal displayed at a similar stage in its structure. It’s possible that the two could diverge from here, but in the case that they don’t, Gold’s path may provide a glimpse into what could lie ahead for the coin. As is apparent from the chart, the traditional safe-haven asset saw a significant surge from this point. Based on this, the analyst has noted, “close back above $110K and this will probably go bananas.” It now remains to be seen how things would play out for Bitcoin in the near future. Related Reading: Crypto Bulls See $644M Bloodbath As Bitcoin Dips Below $105,000 In some other news, the institutional DeFi solutions provider Sentora has shared data related to how the cryptocurrency’s supply is currently distributed among the various segments of the sector. It would appear the individual investors control around 69.4% of the total potential Bitcoin supply. The ETFs and other funds own around 6.1%, while businesses about 4.4%. About 7.5% of all BTC that there ever will be has already been lost due to missing keys and/or being forgotten. BTC Price At the time of writing, Bitcoin is trading around $104,200, down more than 4% in the last week. Featured image from Dall-E, Sentora.com, charts from TradingView.com
Bitcoin has seen yet another bounce in the past day, adding to the recent series of rebounds. Here’s what on-chain data says regarding if BTC is going anywhere with them. Bitcoin Realized Profit/Loss Ratio Could Shed Light On Broader Dynamics In its latest weekly report, the on-chain analytics firm Glassnode has discussed about the recent trend in the Realized Profit/Loss Ratio for Bitcoin, which is an indicator that can be useful to study how investors are reacting to price volatility. Related Reading: Dogecoin To $0.57 Or $0.06? Analyst Says DOGE’s Fate Hinges On This Level The metric measures, as its name already suggests, the ratio between the amount of profit and that of loss being realized by the holders or addresses as a whole. The indicator works by looking at the transaction history of each coin being sold on the network to find what price it was transferred at prior to this sale. If this previous selling value is less than the latest spot price for any token, then the metric includes it under the profit volume. The total profit realized in the sale of the coin is assumed to be equal to the difference between the two prices. The indicator calculates this value for all coins belonging to the profit volume and takes a total sum to determine the scale of profit realization happening across the blockchain. Similarly, the Realized Profit/Loss Ratio also finds the total amount of loss being realized by referring to the sales of the coins of the opposite type (that is, the tokens with the last transaction value higher than the current spot price). Then, it takes the ratio between the two sums, to estimate the net situation for the sector. During the last couple of months, Bitcoin has been going through a phase of bearish price action. Here’s what investor trading behavior has been like in this period, according to the Realized Profit/Loss Ratio: As the analytics firm has highlighted in the chart, the indicator has seen dips under the 1 mark during each of BTC’s recent lows. A value in this region corresponds to loss-taking being more dominant than profit-taking. “This imbalance typically marks a degree of seller exhaustion, where downside momentum fades as sell-side pressure is absorbed,” explains Glassnode. Due to this reason, capitulation tends to help BTC arrive at local bottoms. From the graph, it’s visible that the cryptocurrency also benefited from this effect during the recent bursts of loss realization, as its price found a rebound following each of them. These Bitcoin rebounds, however, have so far not been anything sustained. Will they eventually culminate into a return of proper bullish momentum, or are they only dead-cat bounces on the way down? To tackle the question, the analytics firm has referred to a long-term view of the Realized Profit/Loss Ratio. As shown in the above chart, the 90-day simple moving average (SMA) of the Bitcoin Realized Profit/Loss Ratio has been sharply trending down recently, despite the jumps in profit realization that have come on the short-term view. “These brief profit-driven surges have failed to reverse the broader downtrend, suggesting that the macro picture remains one of generally weaker liquidity and deteriorating investor profitability,” notes Glassnode. Related Reading: Dogecoin, XRP Among Coins Seeing The Largest Decline In Profit Supply: Data So, as for whether Bitcoin has been witnessing a shift towards bullish momentum with the recent rebounds, the answer is seemingly no, at least from the perspective of the Realized Profit/Loss Ratio. BTC Price At the time of writing, Bitcoin is trading around $83,600, down almost 2% in the last seven days. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
Bitcoin continues to trade within a tight range, consolidating below the $85,000 mark and holding above the $81,000 support zone. Bulls are making efforts to reclaim higher levels and spark a recovery rally, but persistent macroeconomic uncertainty and growing concerns over global trade tensions continue to weigh on market sentiment. Related Reading: Whales Accumulate Over 120 Million Dogecoin In Past Week – Analyst The lack of momentum in either direction has left Bitcoin range-bound for the past several sessions. However, optimism remains among futures traders. According to recent data, 60.52% of traders with open Bitcoin positions on Binance Futures are currently holding long positions, suggesting a majority still believe in an upside breakout. This bullish leaning among leveraged traders highlights growing expectations that Bitcoin could recover once broader market sentiment improves. Still, the consolidation pattern remains in place until BTC can break decisively above the $85K level and target $88K or higher. If bulls fail to reclaim resistance soon, the risk of a breakdown below $81K increases, potentially triggering a deeper correction. As uncertainty dominates headlines, Bitcoin remains at a crossroads, and traders continue to watch closely for a catalyst to drive the next major move. Bitcoin Investors Split On Market Direction As Long Positions Dominate Futures After months of volatility and a sharp correction from Bitcoin’s January all-time high, some market participants are preparing for a prolonged bear market. Sentiment among this group is driven by persistent macroeconomic uncertainty, erratic global policy shifts, and rising concerns of recession, all of which have shaken confidence across both crypto and traditional markets. However, a more optimistic view persists among analysts who argue that the current price action is simply a healthy correction within a larger bull cycle. They believe that Bitcoin is undergoing a standard consolidation phase following its parabolic move in late 2024. The structural fundamentals supporting Bitcoin—including growing institutional interest and broader adoption—remain intact. Supporting this view, top analyst Ali Martinez shared a key metric on X: the Bitcoin Long/Short Ratio on Binance Futures. Martinez revealed that 60.52% of traders with open BTC positions are currently leaning long, signaling a bullish sentiment among futures traders. This bullish skew in leveraged positions suggests that a potential breakout may be on the horizon. If bulls can reclaim resistance levels near $88K and push above the $90K mark, it could confirm the start of a recovery rally and help restore confidence. Related Reading: Cardano Indicator Flashes Buy Signal On 4-Hour Chart – Rebound Ahead? Until then, indecision continues to dominate the market, and Bitcoin remains trapped in a tight range where both scenarios—a deeper correction or a bullish breakout—remain on the table. BTC Price Range Narrows As Key Resistance Holds Strong Bitcoin (BTC) is trading at $84,200 after several days of tight consolidation between the $87,000 resistance and the $81,000 support level. Despite recent attempts to push higher, bulls have struggled to break through key resistance, leaving the price range bound and vulnerable to sudden volatility. Currently, BTC sits approximately 4% below the 4-hour 200-day Moving Average (MA) and Exponential Moving Average (EMA). These indicators, now acting as dynamic resistance around $87,300, are widely watched by traders as crucial short-term trend signals. Reclaiming this zone as support could be the catalyst for a recovery rally toward the $90,000 mark, helping shift sentiment back in favor of the bulls. Related Reading: Investors Withdraw 360,000 Ethereum From Exchanges In Just 48 Hours – Accumulation Trend? However, the failure to break above this technical ceiling raises concerns. If price action remains weak and fails to retake the 200 MA and EMA in the coming sessions, the likelihood of a drop below the $81,000 support increases. Such a move would not only trigger fresh selling pressure but could also send BTC into deeper correction territory. Featured image from Dall-E, chart from TradingView
An analyst has explained how this Bitcoin correction phase may be different from the 2024 one, based on the data of this on-chain metric. Stablecoin Supply Is Displaying A Different Pattern In This Bitcoin Downturn In a CryptoQuant Quicktake post, an analyst has shared about how the latest trend in the stablecoin circulating supply has been looking. “Stablecoins” are cryptocurrencies that track the price of a fiat currency, with USD being by far the most popular choice. These tokens run on multiple networks, but in the context of the current topic, only the Ethereum-based ones are of interest. Related Reading: XRP Jumps 7% After Surge In Network Activity & Whale Buying Stablecoins are, by nature, relatively ‘stable’ in value, so the investors generally buy into these coins whenever they want to avoid the volatility associated with assets like Bitcoin. Holders who invest into stables, though, usually plan to eventually go back into the volatile side of the sector. For if they didn’t, they would have exited into fiat instead. Once these traders feel the time is right, they use their stablecoins to swap into Bitcoin or whatever desired coin. This shift naturally applies a buying pressure to the price of the asset. Due to the potential of the stablecoins to act as dry powder for the volatile cryptocurrencies, these assets are often looked at as the ‘available’ buy supply of the sector. As such, an increase in its value may be considered as a bullish sign. Now, here is the chart shared by the quant, which shows the trend in the supply of the ERC-20 stablecoins over the last year and a half: As displayed in the above graph, the stablecoin supply has been on the rise during the last few months, which suggests capital has been flowing into these fiat-tied tokens. This rise in the metric has come as Bitcoin has been going through a phase of bearish momentum. In the chart, the analyst has also highlighted the trend that the indicator followed during BTC’s bearish period from last year. It would seem that the stablecoin supply was moving sideways back then. This would imply that as BTC corrected in 2024, a net amount of capital flowed out of the sector as if the capital was rotating into the stablecoins instead, their supply would have registered an increase. This time around, however, a rotation of capital has indeed been occurring, with these stablecoin buyers potentially waiting on the sidelines for a profitable entry point. Of course, this current setup isn’t the most bullish one, either; that would have been the case if both the Bitcoin market cap and the stablecoin supply rose simultaneously. Related Reading: Here’s Where Support & Resistance Lies For Solana, Based On On-Chain Data Nonetheless, the fact that the stablecoins haven’t been shrinking during this market downturn could still be taken as an optimistic sign for Bitcoin. BTC Price Bitcoin has seen yet another failed recovery rally as its price has dropped back to $84,000, after having broken above $87,000 just earlier. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
On-chain data shows the exchanges have witnessed net Bitcoin outflows through the latest volatility, a sign that could be positive for BTC’s price. Bitcoin Exchange Netflow Has Been Negative Recently According to data from the market intelligence platform IntoTheBlock, Bitcoin has been leaving exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which measures the net amount of BTC entering into or exiting out of the wallets associated with all centralized exchanges. When the value of the indicator is positive, it means the investors are making net deposits of the cryptocurrency into these platforms. As one of the main reasons why holders transfer their tokens to exchanges is for selling-related purposes, this kind of trend can have a bearish impact on the BTC price. Related Reading: This Bitcoin Price Range Could Be The Bulls’ Final Defense Line, Report Says On the other hand, the metric being under the zero mark suggests the outflows are overwhelming the inflows. Generally, investors take their coins off into self-custody when they plan to hold into the long term, so such a trend can prove to be bullish for the asset. Now, here is a chart that shows the trend in the Bitcoin Exchange Netflow over the past week or so: As is visible in the above graph, the Bitcoin Exchange Netflow saw a spike into the positive region on the 27th of last month, but the metric has since remained in the negative region. This trend has maintained despite the fact that the asset has been observing volatility in both directions recently. Thus, it would appear that the investors are still bullish on the cryptocurrency. “Despite the recent market fear, traders have shown conviction in BTC, withdrawing nearly $900 million worth of Bitcoin from exchanges in the past 7 days,” notes the analytics firm. While exchange inflows can be bearish when it comes to volatile assets like BTC, the same doesn’t hold true in the case of stablecoins, digital assets that have their value tied to fiat. Usually, investors who hold these coins eventually plan to invest into the volatile side of the market. Once they feel the time has come, they deposit into the exchanges to swap to the tokens of their choice, thus providing a buying pressure to their prices. Related Reading: Litecoin Whale Deposits 500,000 LTC To Binance: Price Decline To Extend? As such, an increase in stablecoin inflows can be a positive sign for Bitcoin and other cryptocurrencies. This trend has recently been developing in the sector, as an analyst has pointed out in a CryptoQuant Quicktake post. As displayed in the above chart, the Binance Stablecoin Exchange Reserve, a metric that keeps track of the total amount of these fiat-tied tokens sitting in the wallets of the Binance platform, has jumped to a new all-time high (ATH) recently. BTC Price Bitcoin has been unable to sustain recovery as its price has once again dipped to $88,600. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
On-chain data shows the large Bitcoin holders are capitalizing on the lower prices as they have switched to accumulating again. Bitcoin Whales Are Now In Net Buying Mode According to data from the market intelligence platform IntoTheBlock, the Large Holders are buying BTC right now. The on-chain indicator of relevance here is the “Large Holders Netflow,” which keeps track of the net amount of the asset that’s entering into or exiting out of the wallets associated with Large Holders. The analytics firm defines ‘Large Holders’ as the entities that are carrying at least 0.1% of the cryptocurrency’s entire supply in their balance. At the current exchange rate, this amount is worth a whopping $1.67 billion, so the only addresses who would qualify for the group would be those owned by the largest of investors in the space. Related Reading: Don’t Call Bitcoin Bottom Just Yet, CryptoQuant Head Says: Here’s Why When the value of the Large Holders Netflow is positive, it means these humongous entities are receiving net inflows into their wallets. Such net buying from this cohort can naturally be a bullish sign for BTC’s price. On the other hand, the indicator being negative can lead to a bearish outcome for the cryptocurrency, as it implies the largest of holders have decided to participate in some selling. Now, here is the chart shared by the analytics firm, that shows the trend in the Bitcoin Large Holders Netflow over the past week: As displayed in the above graph, the BTC Large Holders Netflow had turned negative earlier in the week, meaning these mega whales had taken to net distribution. The cryptocurrency’s price had followed up with its crash when this selling had emerged, so it would appear likely that this cohort had a role to play in the bearish price action. While these influential beings may have been at least in part responsible for the market decline, they have now turned around and started buying instead, as the indicator’s value has broken back into the positive region. According to the analytics firm, the Large Holders have added almost 15,000 tokens of the asset to their wallets since BTC has gone under the $90,000 level. Thus, it would appear that this cohort believes the current low prices to be offering a worthy accumulation opportunity for Bitcoin. Related Reading: XRP Indicator Reliable Since 2022 Now Gives This Signal It’s possible that this buying spree from the whales would end up having a bullish effect on BTC, similar to what the earlier selloff did, but so far, the coin has only continued to slide down. BTC Price Bitcoin has furthered its drawdown with another 2% drop during the last 24 hours, which has taken its price to the $84,500 level. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
On-chain data shows the demand for using Bitcoin is now neutral from retail investors and could be heading toward a reversal to the upside. Bitcoin Retail Volume No Longer Plummeting As explained by an analyst in a CryptoQuant Quicktake post, the demand among the retail investors may be close to growing again. The on-chain indicator of relevance here is the “Retail Investor Demand,” which measures, as its name suggests, the demand for the Bitcoin network that’s present among the smallest of entities. Since these investors have such small wallets, their transactions tend to be of a small size as well. Thus, the Retail Investor Demand makes use of the collective transaction volume of the small transfers (less than $10,000 in value) to track the activity of this cohort. Related Reading: Bitcoin Could End Up Plummeting To $80,100 If This Support Fails Now, here is the chart shared by the quant that shows the trend in the 30-day percentage change of the Bitocin Retail Investor Demand over the last few years: As displayed in the above graph, the 30-day change in the Bitcoin Retail Investor Demand plunged to a significant negative level earlier in the year, meaning the volume related to small investors was down a large percentage over a 30-day period. Since this low, though, the metric has been climbing back up and its value is today at almost the 0% mark, implying its drawdown has just about finished. If the same trajectory continues, it’s possible that the indicator should break into the positive territory, which would imply growth in interest from the retail investors. From the chart, it’s visible that the last time the Retail Investor Demand saw a break into the green zone was just before last year’s rally beyond $100,000. Back then, the volume from these investors had kept rising until hitting a peak of about +30%, which had interestingly nearly coincided with last year’s price top. Related Reading: Bitcoin Unable To Break Upward As 1.6 Million BTC Resistance Wall Blocks Path It may be no surprise that the asset’s consolidation followed when growth in the volume related to this group disappeared and a decline in activity took over. Back during the 2021 bull run, the Retail Investor Demand saw a plummet into the negative territory similar to the one witnessed earlier in this year. The indicator then reversed its value in spectacular fashion as it broke past the 0% mark with a sharp surge and kept rising until a notable green level. This turnaround in retail investor coincided with the start of the second half of the 2021 rally. It now remains to be seen whether retail volume will make a similar comeback this time as well, potentially implying a reignition of bullish momentum for Bitcoin, or if it would take a while more to recover. BTC Price Bitcoin has continued its recent trend of consolidation during the past day as its price is still trading around the $96,300 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
After starting the week with a red Monday, Bitcoin (BTC) has recovered the $100,000 zone, registering a 4% recovery from yesterday’s lows. Following its recovery, some crypto analysts suggested that BTC could be getting ready for a February pump. Related Reading: ‘No Need To Panic’: Cardano (ADA) Holding Key Level Despite 14% Drop Choppy January, Double-Digit February? On Monday, the crypto market suffered a shakeout generated by the broader sell-off ignited by DeepSeek’s Artificial Intelligence (AI) news. Altcoins like Ethereum (ETH) and Solana (SOL) fell 8.4% and 15%, respectively, while Bitcoin dropped 5%. The flagship cryptocurrency fell below the $100,000 mark for the first time in over a week, dipping to $98,000 on Monday. However, it has experienced a strong rebound, recovering the crucial support zone as the day ended. After surging to $102,000 on Tuesday morning, Bitcoin has been unable to reclaim $103,000, moving sideways within the $102,000-$102,990 price range throughout the day. Trader Daan Crypto noted that Bitcoin continued moving in the mid-zone of its post-election range despite the drop. “Right back into the high-volume area within this range. Doesn’t seem like the $100K mark is left behind so easily just yet,” he wrote. Daan considers that as long as Bitcoin doesn’t break below or above $90,000 or $108,000, the price will continue with its “decent but choppy” performance. However, he suggested that Bitcoin could have a better price action next month based on its historical performance. The trader points out that February has been historically BTC’s second-best month, only behind October. In the last 12 years, Bitcoin has seen a green performance during this month 10 times, registering up to 61% monthly return, according to CloinGlass data. Similarly, Rekt Capital stated that in its post-halving years, Bitcoin saw a double-digit profit in February, with 61% in 2013, 23% in 2017, and 36% in 2021. The analysts added that “8 out of the past 12 February dating back to 2013 have produced double-digit upside.” Bitcoin Next Leg Up Coming Soon Rekt Capital also considers that BTC is preparing for its next leg up. The analyst explained that Bitcoin completed its first post-halving Price Discovery Uptrend and first Price Discovery Uptrend Correction. This suggests that BTC “should be able to embark on its second Price Discovery Uptrend to new highs” in the next two weeks. According to Rekt Capital, the second phase historically starts during week 16 of Bitcoin’s Parabolic Phase, with Bitcoin currently starting the 14th week. “In Week 14 of the 2017 cycle, Bitcoin was recovering from its first Price Discovery Correction only to make new highs in Week 16 In Week 14 of the 2021 cycle, Bitcoin was still just bottoming on its first Price Discovery Correction only to make new highs in Week 16,” the analyst detailed. Related Reading: Tuttle Capital Files For 10 Leveraged Crypto ETFs Including TRUMP And Cardano As a result, Rekt Capital suggests investor “Patienlly HODL” for the next two weeks, as “confirmation Of The 2nd Price Discovery Uptrend” is set to start next month. Moreover, Bitcoin’s Monday close above $101,200 developed a “new early-stage Higher Low,” which could see the price “consolidate further here to as high as the Range High at $106,200” if it continues to hold above this level. Featured Image from Unsplash.com, Chart from TradingView.com
On-chain data shows that Bitcoin shark-sized wallets have climbed to a new all-time high recently, a sign that could be bullish for BTC. Key Bitcoin Investors Have Been In Accumulation Mode Recently According to data from the on-chain analytics firm Santiment, the total number of sharks on the Bitcoin network has registered an increase recently. The indicator of relevance here is the “Supply Distribution,” which tells us about the amount of BTC wallets that belong to a particular group. Addresses or investors are categorized into these cohorts based on the number of coins that they are carrying in their balance. For example, wallets holding 5 tokens are put into the 1 to 10 coins group. Related Reading: Bitcoin NVT Golden Cross Hits 60-Day Low: Is This Bullish? In the context of the current topic, the wallet range of interest is 100 to 1,000 BTC. At the current exchange rate, the lower end of the range converts to $10.5 million and the upper one to $105 million. Thus, the only addresses that would qualify for the cohort would be the ones belonging to the large traders. This group is popularly known as the sharks. The sharks are certainly not the largest entities on the network—that title belongs to the whales—but they are still influential due to their notable holdings. Below is the chart for the Bitcoin Supply Distribution shared by the analytics firm, which shows the data for these key investors over the last few months. As displayed in the graph, the Bitcoin Supply Distribution for the 100 to 1,000 coins group saw a sharp upwards trajectory during the last few weeks of 2024, implying a large amount of new shark-sized investors popped up on the network. The growth in the indicator has significantly slowed down this year, but it has nonetheless continued as the metric’s value has just set a new record of 15,777 addresses. Bitcoin has seen a pause in its bull run recently, so to see the sharks still be interested in buying the asset could naturally be a positive sign for things to come in the near future. The sharks haven’t been the only investors accumulating recently, as the analytics firm Glassnode has pointed out that the shrimps and crabs have also been seeing positive flows. The shrimps and crabs refer to the Bitcoin investors owning up to 1 and 10 BTC, respectively. As is apparent from the chart, these small entities have combined bought 25,600 BTC during the past month, which is equivalent to 1.9x the Monthly Issuance. Related Reading: Bitcoin Capital Inflows See Notable Slowdown, But Is This A Worry? The Monthly Issuance is the amount that miners have produced/mined over the last 30 days. Thus, it would appear that the retail investors have been absorbing almost twice as much supply as the miners have been minting. BTC Price Bitcoin has been moving sideways over the last few days as its price is still floating around the $105,100 level. Featured image from Dall-E, Santiment.net, Glassnode.com, chart from TradingView.com
On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross has plummeted recently. Here’s what this could mean for BTC’s price. Bitcoin NVT Golden Cross Has Plunged Into Bottom Zone Recently As explained by an analyst in a CryptoQuant Quicktake post, the BTC NVT Golden Cross has declined to the lowest level in two months recently. The “NVT Ratio” refers to an indicator that keeps track of the ratio between the Bitcoin market cap and transaction volume. When the value of this metric is high, it means the value of the network (that is, the market cap) is high compared to its ability to transact coins (the transaction volume). Such a trend implies the asset may be overvalued. Related Reading: Bitcoin Capital Inflows See Notable Slowdown, But Is This A Worry? On the other hand, the indicator being low suggests the cryptocurrency could be due to a bullish rebound as its volume is high compared to its market cap. In the context of the current topic, the normal version of the NVT Ratio isn’t of interest, but rather a modified form known as the NVT Golden Cross. This metric compares the short-term trend of the NVT Ratio with its long-term one to determine whether its value is near a top or bottom. The NVT Golden Cross uses the 10-day moving average (MA) of the NVT Ratio to track short-term trends and the 30-day MA for long-term ones. Now, here is a chart that shows the trend in the Bitcoin NVT Golden Cross over the last couple of months: In the graph, the quant has highlighted two zones that have historically proven to be relevant to the Bitcoin NVT Golden Cross. The red zone, situated above a value of 2.2, is where the indicator has been the most likely to see a reversion to the mean zero level. Similarly, the green zone corresponding to values under -1.6 is where bottoms in the metric have tended to form. As the color coding already implies, ventures into these zones have often meant a bullish and bearish outcome for BTC, respectively. From the chart, it’s apparent that the NVT Golden Cross surged into the overheated territory around the time of last month’s price top. Since then, the indicator has gradually been making its way down, with its value today finding itself submerged in the undervalued region. Related Reading: Arbitrum (ARB) Primed For 46% Rally If This Happens, Analyst Reveals The current value of -2.21 is the lowest that the metric has been in around 60 days. Given the historical pattern, it’s possible that this could imply Bitcoin may be near a local bottom, if one isn’t already in. BTC Price Bitcoin has settled into a phase of sideways movement during the last few days as its price is still trading around the $105,200 mark. Featured image from iStock.com, CryptoQuant.com, chart from TradingView.com
The market’s New Year rebound turned into a start-of-year retrace after Bitcoin (BTC) dropped from the recently reclaimed $100,000 support into the $94,000 territory. Amid the drop, an analyst shared his “cautiously bullish” outlook for BTC’s price. Related Reading: ‘ADA Wave Is Coming’: Cardano Whales Go On Buying Spree As Price Attempts Breakout Bitcoin Risks Crash To $74,000 On Tuesday, Bitcoin dropped below $97,000, dragging the market into the first pullback of the year. BTC began 2025 trading around the $92,000 level but climbed around 6.5% in the following days. After turning the $98,000 resistance into support over the weekend, Bitcoin jumped back above $100,000, reaching its highest price in weeks. However, BTC struggled to maintain this key support zone, dipping 3% in an hour yesterday. The cryptocurrency has dropped another 2.5% in the past day, falling as low as $94,500 on Wednesday morning. Since then, BTC has hovered between $94,800 and $95,600, briefly testing the $96,000 resistance. Crypto analyst Ali Martinez examined BTC’s recent performance. In an X threat, the analyst noted that Bitcoin had “breached the right shoulder of a head-and-shoulders pattern” on Monday, invalidating the bearish setup pattern. However, the reversal “erased those gains, dragging BTC back below the right shoulder and reigniting bearish concerns,” as this pattern could trigger a correction to at least $78,000. Martinez also pointed out that Bitcoin has fallen below a key demand zone, between $95,400 and $98,400, where 1.77 million addresses acquired over 1.53 million BTC. The analyst suggested the price drop could force these holders to “sell some BTC to cut potential losses.” He also noted there isn’t significant resistance ahead for the flagship crypto, with only a minimal supply wall of 107,000 BTC between $104,700 and $105,770. Nonetheless, the analyst warned that a surge in selling pressure that pushes the cryptocurrency below the $92,000 mark “could spell trouble,” as it would open “the door to a steep drop, with little support until $74,000.” “Therefore, the current market conditions, from a macro perspective, are reigniting fears of a potential Bitcoin crash,” he added. BTC Price Set To Bounce Soon? The analyst also shared a “cautiously bullish” outlook for BTC from a technical perspective. Martinez pointed out that TD Sequential presented a buy signal on Bitcoin’s 4-hour chart, suggesting a potential price rebound if the price can hold the $93,500 support zone. Additionally, he highlighted that traders on Binance “are leaning bullish on Bitcoin,” as 61.28% of all traders on the crypto exchange with open positions are betting that the price will go up. Martinez also noted that $35 million would be liquidated if BTC’s price rebounds to $98,600, suggesting that market makers “may try to grab” it. Similarly, there’s another $66 million liquidation zone above $103,300. Related Reading: Crypto Trader Makes $21 Million From AI Agent Token As Sectors Faces Backlash However, the analyst emphasized that Bitcoin must reclaim the $100,000 support to invalidate the bearish outlook and “set its sights on new all-time highs.” Martinez concluded that BTC could rebound to $98,600 in the short term, but “the macro suggests caution.” As of this writing, Bitcoin is trading at $94,500, a 3.3% retrace in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
On-chain data shows the Bitcoin netflow on Binance has turned negative recently. Here’s what this could mean for the asset’s price. 14-Day SMA Bitcoin Binance Netflow Has Plunged Recently In a CryptoQuant Quicktake post, an analyst has discussed about the trend in the 14-day simple moving average (SMA) of the Bitcoin Exchange Netflow for the […]
Data shows that a Bitcoin indicator has recently formed a pattern that has proved to be quite bullish regarding the cryptocurrency’s price. Bitcoin Coinbase Premium Index Has Crossed Above Its 14-Day SMA In a new post on X, the on-chain analytics firm CryptoQuant has discussed a pattern that has recently formed in the Bitcoin Coinbase Premium Index. The “Coinbase Premium Index” is an indicator that keeps track of the percentage difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). This indicator is useful for determining how the buying or selling behaviors differ between the userbases of the two cryptocurrency exchange titans. Positive values imply the users on Coinbase are buying at a higher rate or selling at a lower rate than the ones on Binance. Similarly, negative values imply that Binance users have pushed the BTC price higher than on Coinbase. Related Reading: Bitcoin Exchange Supply Breaks Equilibrium: Whales Scoop Up 240,000 BTC Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Coinbase Premium Index, as well as its 14-day simple moving average (SMA), over the last few months: As displayed in the above graph, the Bitcoin Coinbase Premium Index plunged under its 14-day SMA and into the red territory last month. The cryptocurrency’s price plummeted alongside this venture into the negative zone for the indicator, suggesting the shift in the metric occurred not because of Binance users buying more, but rather due to Coinbase investors taking to selling. The activity of Coinbase users, who are predominantly from the US, has actually played a key role in BTC price action this year, with the asset’s value often finding itself closely mimicking the trend in the Coinbase Premium Index. Thus, it’s not surprising to see that these investors were the drivers for the recent crash as well. From the chart, it’s visible that users on the exchange continued to sell into the new year, but during the last few days, the metric has finally shown a reversal. With this surge, its value has crossed back above the 14-day SMA, potentially implying a return of momentum in the market. Related Reading: Dogecoin Jumps 20%, But Social Media Still Bearish: Green Signal For Rally? CryptoQuant has pointed out that the last time the cryptocurrency showed a similar trend was back in November. Following this previous crossover, the indicator saw a break into the positive region, alongside which Bitcoin enjoyed a rally from the $69,000 level to the new all-time high of $108,000. It now remains to be seen whether this is the start of a fresh wave of buying from American traders and if it would be similarly bullish for BTC this time as well. Signs have been looking positive so far, as the asset has witnessed recovery above the $100,000 mark since the crossover appeared. BTC Price At the time of writing, Bitcoin is trading at around $100,900, up over 7% in the last week. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Bitcoin has seen a significant surge, rising from local lows of $92,000 to a recent peak of $98,950. This strong move has reignited enthusiasm among investors and analysts, who are closely watching for the next major price action in the market leader. Despite concerns of potential overheating after such a rapid climb, Bitcoin’s market structure […]
As Bitcoin (BTC) continues to move sideways, investors wonder whether the flagship crypto will end the year positively or on a sour note. Some analysts suggest a close above recently lost levels could propel BTC’s price to new highs. Related Reading: Analyst Forecast ‘Highly Bullish’ 2025 For Ethereum: Is The Bleeding Over? Bitcoin’s Red Week, Green Year Since breaking past the long-awaited $100,000 barrier in early December, Bitcoin has seen two significant corrections to the lower zone of its one-month range. Throughout the month, the flagship crypto’s price has traded between $90,000 and $108,000, hovering between $96,000 and $102,000 for most of December. However, since reaching its latest all-time high (ATH) of $108,353 ten days ago, Bitcoin has lost the $100,000 support zone, falling to its lowest price in weeks. Over the past week, BTC has struggled to reclaim the $98,000 support zone, losing its Christmas retest above this level on Thursday. Now, the largest crypto by market capitalization moves within the mid-zone of its monthly range, displaying a candle that “doesn’t look great but also not the worst. Neutral, and still a few more days to go,” as Altcoin Sherpa stated. The analyst suggested that Bitcoin could see “some weird price action over the next few weeks with despair followed by an absolute moon mission and killer alt season.” Meanwhile, Daan Crypto Trades called BTC’s current price action the “end of the year chop.” He noted that as Bitcoin moves sideways, liquidity is “building on both sides,” with an area of interest below $94,000 and a key level above the $100,000 mark. Some investors asked the community to zoom out on BTC’s chart, highlighting that the cryptocurrency remains within a historical range despite the horizontal trajectory. If Bitcoin were to end the year at its current price, it would still record a 48.15% return in Q4 and a 122% increase in the yearly timeframe. Bitcoin Risks Fall To One-Month Lows Analyst Carl Runefelt considers that investors should watch the $92,500 support zone, as breaking below that horizontal level could send BTC’s price to $86,000. Similarly, Ali Martinez warned investors about a key level for BTC. Martinez asserted that investors “don’t want Bitcoin to dip below $92,730,” explaining that it is “essentially free fall territory” if the flagship crypto loses that level. According to the analyst, the flagship crypto could fall as low as $70,000 if it loses the key support zone based on the UTXO Realized Price Distribution (URPD) chart. In a previous post, he explored a bearish outlook where BTC could fall as low as $60,000, noting that several experts forecasted a correction anywhere from 23% to 36% for BTC. Martinez considers a 25% crash to the $70,000 mark possible, as the URPD chart shows minimal support below the $93,806 and $92,730 zones. “If this critical demand area doesn’t hold, we could see a sharp drop to $70,085,” he warned. Related Reading: New Solana Memecoin Leader? PENGU Flips BONK Amid Whale Accumulation He also pointed out that Bitcoin broke below one of its “most significant support zones at $97,300,” which suggests a bearish outlook while it isn’t reclaimed. However, the analyst asserted that this outlook would be invalidated if BTC has “a sustained close above $97,300 and, more critically, a daily close above $100,000.” Martinez added that reclaiming these levels could start the next leg toward the $168,000 target. As of this writing, Bitcoin is trading at $94,587, a 1.24% decrease in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
On-chain data shows that big-money investors have been pouring into Bitcoin as large wallets have seen sharp growth in the past month and a half. Bitcoin Shark & Whale Wallets Have Gone Up By Almost 10% Recently According to data from the on-chain analytics firm Santiment, the Bitcoin addresses carrying at least 100 BTC have […]
Bitcoin has returned back above the $100,000 mark as on-chain data shows capital continues to flow into the asset at a rapid rate. Bitcoin Realized Cap Has Crossed The $768 Billion Milestone In a new post on X, CryptoQuant founder and CEO Ki Young Ju has discussed about the latest trend in the Realized Cap of Bitcoin. The “Realized Cap” here refers to an on-chain capitalization model that calculates BTC’s total value by assuming the value of each individual token is equal to the price at which it was last transacted on the network. Related Reading: Dogecoin, XRP Flashing ‘Overlooked’ Bullish Signal, Santiment Reveals The previous transfer of any coin is likely to correspond to the last point at which it changed hands, so the price at its time could be considered as its current cost basis. Since the Realized Cap sums up this value for all tokens in circulation, it essentially calculates the sum of the cost basis of the Bitcoin supply. In other words, the model measures the total amount of capital that the investors as whole have put into the cryptocurrency. Now, here is the chart for the indicator shared by Young Ju that shows the trend in its value over the entire history of the digital asset: As displayed in the above graph, the BTC Realized Cap has been riding a sharp uptrend during the past year, which suggests capital has rapidly been pouring into the coin. “Bitcoin is attracting $80 billion every month,” notes the CryptoQuant founder. “Nearly half of the capital that has entered the Bitcoin market over the past 15 years was added this year.” Thanks to these impressive inflows, the total BTC investment has almost reached the $769 billion milestone. It’s unclear how long the Realized Cap could continue this sharp trajectory, but for now, it seems there is still plenty of demand for the asset. In its latest weekly report, the on-chain analytics firm Glassnode has also discussed about the same metric from a different angle. The above chart shows the cumulative data for the Bitcoin “Realized Profit” and “Realized Loss.” These metrics, as their names imply, measure the amount of profit and loss, respectively, that the investors are realizing or harvesting through their selling. Over the history of the cryptocurrency, the difference between the cost basis and selling price for profitable transactions stands at $1.27 trillion, while that for the underwater transfers is at $592 billion. Related Reading: Crypto Suffers $1.6 Billion Liquidations As XRP, DOGE Down 10% The difference between these two metrics roughly comes out equal to the Realized Cap of Bitcoin. BTC Price Bitcoin has recovered back above the $100,000 level after having slipped under $95,000 earlier in the week. Featured image from Dall-E, Glassnode.com, CryptoQuant.com, chart from TradingView.com
Bitcoin (BTC) closed the week above the $100,000 mark for the first time in history, concluding the crypto’s massive week with another milestone. However, a market watcher has warned investors that historical patterns could soon lead the flagship crypto to a big correction. Related Reading: XRP Slides After Failing To Reclaim $2.9, What’s Next For Bulls? Bitcoin First Weekly Close Above $100,000 Bitcoin hit the $100,000 milestone nearly a week ago, passing the psychological barrier for the first time. After its massive feat, the largest crypto by market capitalization faced its largest retrace since Trump’s victory in the US presidential elections. BTC briefly dropped around 13% to the $90,000 mark in a candle that resembled its performance when it first hit the $10,000 barrier. Since then, the cryptocurrency has hovered between the $97,000-$101,000 prince range, facing some resistance to breaking past the range’s upper zone. As reported by NewsBTC, crypto analyst Jelle noted that BTC could follow the same path as its post-$10,000 milestone trajectory, turning the newly crossed level into support after three days, like it did in November 2017. After hovering between its new range for four days, Bitcoin registered its first daily close above $100,000 on Sunday. This performance also marked its first weekly close above this barrier, displaying a similar weekly performance to the $10,000 candle. Crypto analyst Rekt Capital highlighted that BTC’s daily close above this mark and Monday’s 2.5% pullback is “technically a retest” of this level. However, the ongoing retest is very volatile, and it has been simultaneously attempting to turn the “final major daily resistance,” around the $98,000 zone, into support for the past two days. The analyst added, “a volatile retest like this makes sense, especially weekly.” He explained that the $98,000 level was broken as resistance on the weekly chart after yesterday’s close, meaning that “this week is all about trying to reclaim this level as new support.” Will The Next Few Weeks Be ‘Problematic’ For BTC? Despite breaking past the crucial barrier, Rekt Capital warned investors of BTC’s upcoming week of its post-halving “Parabolic Upside Phase.” The analyst previously explained that Bitcoin enters a parabolic period that lasts around 300 days each cycle after every Halving event. Historically, BTC’s price registers the first major pullback a month after entering price discovery mode. According to the analyst, the first “Price Discovery Correction” historically begins between Weeks 6 and 8 of each parabolic phase, seeing at least 25% retraces. Rekt Capital pointed out that today starts the sixth week of this post-halving upside phase, emphasizing that BTC is the timeframe where its price has retraced significantly. Based on this, Bitcoin’s price could nosedive between 25% and 40% in the next few weeks, like in 2017. Related Reading: Bitcoin Is ‘Highly Likely’ In A Supercycle: Expert Explains Why The analyst warned investors that the current retest of the $98,000 level is key, as failing to hold it could kickstart the first major correction: As a result, over the next 3 weeks or so, I am going to be increasingly cautious about retest attempts, and given BTC’s history at this point in the cycle, I wouldn’t be surprised to see key levels get invalidated. Nonetheless, he stated that “the Second Price Discovery Uptrend will take place after the Price Discovery Correction,” which could propel BTC to a new ATH. At the time of writing, Bitcoin is trading at $98,073, a 2% drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
On-chain data shows exchanges have continued to receive stablecoin deposits recently, a sign that could be bullish for Bitcoin and other digital assets. Stablecoin Exchange Netflow Has Remained Positive Recently As pointed out by an analyst in a CryptoQuant Quicktake post, stablecoins have been flowing into exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which keeps track of the net amount of a given asset that’s moving into or out of the wallets associated with centralized platforms. When the value of this metric is positive, it means the investors are making net deposits of the coin to exchanges. Such a trend suggests the holders want to trade the asset away. Related Reading: 54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump On the other hand, the indicator being negative implies investors prefer to hold onto the cryptocurrency, as they are taking their tokens off into self-custody. The implication of these trends for the wider sector and the asset itself can be different depending on the exact type of coin that’s witnessing the outflows/inflows. In the case of volatile assets like Bitcoin, a positive Netflow can be bearish for the price, as it means the holders are looking to sell. BTC also acts as one of the main transition points for capital in the sector as a whole, so it being sold can be a bad sign for the rest of the coins as well. Stablecoin deposits also imply traders want to sell them, but since their price always remains stable around the $1 mark, the selling has no ‘bearish’ effect on them. Like Bitcoin, the stablecoins act as a gateway for capital into the sector. More particularly, investors invest their money into the stables whenever they want to avoid the volatility associated with other assets. Such holders usually eventually plan to delve into the volatile coins, and once they are ready, they transfer these fiat-tied tokens into exchanges to make the swap. This naturally acts as buying pressure for whatever asset that they are shifting to. As such, positive stablecoin Exchange Netflows are considered bullish for Bitcoin. Now, here is the chart shared by the quant that shows the recent trend in the Exchange Netflow for the stablecoins: From the graph, it’s visible that the stablecoin exchange netflow has mostly been sitting inside the positive territory for the last few weeks. Alongside these inflows, Bitcoin has been breaking record after record, so it’s likely that these stablecoin deposits have been acting as fuel for the asset. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near? The indicator’s value has continued to show strength recently, so it seems the investors aren’t done with their BTC accumulation yet. If the earlier trend continues, the latest stablecoin inflows can elongate the rally and perhaps help the asset to finally break through the $100,000 dream target. Bitcoin Price Bitcoin had seen a plunge under the $96,000 level yesterday, but it appears the coin has already bounced back as its price is now trading around $98,400. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BTC has seen a significant uplift during this period. Bitcoin Inactive Supply Trend Suggests HODLing Behavior Remains Strong In a new post on X, Glassnode co-founder Rafael has discussed about the trend in the various bands of the Bitcoin Active Supply. The “Active Supply” includes that part of the BTC circulating supply that has been involved in at least one transaction over a given timeframe. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near? Below is the chart shared by the analyst that shows how the Bitcoin Active Supply has changed for a few different age bands over the last couple of years. From the graph, it’s visible that the age bands on the younger side like 1 month to 3 months and 3 months to 6 months have been observing growth recently, which suggests the relatively recent supply has been churning as a result of the price surge. The older bands, however, have been more or less showing a sideways movement on this indicator. The chart displays all the Active Supply bands up to the 1 year to 2 years group stacked on top of each other, to showcase what percentage of the total supply that they make up for. It would appear that these Active Supply bands add up to 46%, meaning that less than half of the cryptocurrency’s supply in circulation has witnessed some movement within the past couple of years. The 2-year cut off currently sits in November 2022, when the last Bitcoin bear market reached a bottom. Given the trend in the Active Supply, it seems that the investors who bought during and prior to the bottom have largely decided to HODL. Interestingly, this is despite the fact that the asset’s value has seen an uplift of more than 500% since then. “HODLing isn’t just a meme,” notes the Glassnode co-founder. Statistically, the longer investors hold onto their coins, the less likely they become to participate in selling, so considering that 54% of the supply hasn’t seen movement for over two years now, it’s possible a lot of these holders would only continue to sit tight in the near future. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains In some other news, the Deribit exchange has observed massive Bitcoin outflows during the past day, as an analyst has pointed out in a CryptoQuant Quicktake post. In total, users of the platform have transferred out a net 31,000 BTC to their self-custodial wallets with these transactions. The investors may have made these moves for accumulation purposes, which can naturally be a bullish sign for the asset’s price. BTC Price Bitcoin has now gotten very close to the $100,000 dream target as its price is currently trading around the $98,900 mark. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
On-chain data shows Bitcoin has continued to flow out of the cryptocurrency exchange Binance even after its latest high above $93,000. Bitcoin Binance Netflow Has Been Seeing Negative Spikes Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the Exchange Netflow for Binance has registered negative values recently. The “Exchange Netflow” here […]
Bitcoin (BTC) has performed remarkably over the past week, surging 30% since the November 5 US election. The flagship crypto surpassed its March all-time high (ATH), recording a new high nearly every day for the last seven days. Bitfinex analysts noted that the market remains “relatively stable” despite increased speculative activity. Related Reading: Bitcoin Closing In On $80,000 For Record-Breaking Run After Trump Win Bitcoin ‘Fair Value’ Priced In At Higher Levels Following Donald Trump’s victory last Tuesday, the crypto market has seen a massive rally, surging to a market capitalization of $3.05 trillion. Bitcoin has led the post-election bullish run with a 30% price increase, nearing the $90,000 mark earlier today. According to Bitfinex Alpha report, the rally “highlights the positive reaction to the election outcome, with investors positioning themselves for potential economic stimulus and regulatory shifts.” During the March highs, BTC’s realized profit volume reached its peak of $3.1 billion. Since then, realized profit volumes have gradually decreased, “reaching an equilibrium.” As the report noted, there’s been a reset in supply and demand forces, which indicates, alongside the recent price surge, that “the market is now pricing in a higher ‘fair value’ for Bitcoin.” At the same time, the cryptocurrency continues its price discovery. Moreover, profit-taking above $70,000 has been significantly smaller than the past instances when Bitcoin traded above this range, despite a structural increase in profit-taking. Bitfinex analysts consider this to signal the “entry of a new wave of demand into the market,” backed up by Spot Bitcoin exchange-traded funds (ETFs) buying post-elections. Additionally, it suggests that fresh investor interest “could drive further upward momentum in the near term.” BTC Enters ‘A New Phase’ The report highlighted record-breaking BTC ETFs’ inflows, around $2.28 billion in three days. This performance represented a significant increase from the pre-election de-risking, which saw the crypto-based investment products record their second-largest single-day outflows. According to CoinShares data, Bitcoin ETFs closed the US election week with $1.8 billion in inflows and started this week with $1.1 billion in positive net flow. This performance displays a resurgence in demand for the flagship crypto as the market adjusts to BTC’s new price levels. Bitfinex analysts explained that from March to August, there was significant supply and insufficient sustained buying pressure to absorb it. The recent demand surge suggests a notable shift as buying interest is “absorbing selling pressure at all-time highs and stabilizing market dynamics: Now we appear to be entering into a new phase where the volume of profit-taking when BTC hits an all-time high is notably lower, given the amount of fresh demand entering the market post-election. This demand is helping to absorb the minor selling pressure still present, suggesting a healthier market environment and potential for further upward movement. Related Reading: Solana (SOL) Records 3-Year High As Price Hits $220, Is $260 Next? Meanwhile, Open Interest (OI) in Bitcoin futures and perpetual contracts reached ATH, hitting $45.43 billion. The report explains that this signals an increase in speculative activity but details that the market remains “relatively stable” since OI and BTC prices “are in equilibrium at elevated levels.” Ultimately, Bitfinex anticipates some consolidation soon, with a potential pullback to $77,000. A correction toward this level would close BTC’s CME gap and strengthen Bitcoin’s position to climb even higher levels. As of this writing, Bitcoin is trading at $86,225, a 5% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
On-chain data shows the exchanges have just received large stablecoin inflows, something that could end up benefiting the Bitcoin rally. Stablecoin Exchange Inflows Have Spiked Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the Exchange Inflow for stablecoins has registered a sharp jump. The “Exchange Inflow” here refers to an on-chain […]
Bitcoin is set to close out a volatile week, marked by an attempt to break its all-time high (ATH) that ultimately ended in a retracement to lower demand levels. Despite this pullback, market sentiment remains largely positive. Key data from CryptoQuant reveals that the Net Taker Volume (SMA-24H) across all exchanges currently indicates a bullish […]
Bitcoin is on the verge of breaking its all-time high, and investors feel the euphoria as BTC approaches a pivotal point. Market anticipation is building, with many expecting a strong surge once BTC enters price discovery and moves into uncharted territory. Critical data from Glassnode reveals an interesting sentiment among long-term holders: despite the rally, […]
Bitcoin has observed a rally beyond the $71,000 level during the past day as on-chain data shows demand for the coin has notably increased. Bitcoin Apparent Demand Has Spiked To Notable Positive Levels Recently As an analyst in a CryptoQuant Quicktake post explained, the demand for Bitcoin has appeared to be on the rise again recently. […]
Data shows the Bitcoin Hashrate has been experiencing a rapid uptrend recently, a hint that miners expect the asset’s latest rally to continue. 7-Day Average Bitcoin Hashrate Has Been Exploring New Highs Recently According to data from Blockchain.com, the BTC network has seen its Hashrate shoot up recently. The “Hashrate” here refers to an indicator […]
An analyst has explained why it could be the time to get ready for a new Bitcoin bull run, based on the pattern developing in this on-chain metric. Bitcoin US To The Rest Reserve Ratio Has Seen A Reversal Recently In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the BTC US to The Rest Reserve Ratio. This indicator tells us, as its name suggests, the ratio between the total Bitcoin reserves of the US-based centralized platforms and that of the global ones. Platforms here refer to not just the exchanges, but also other entities like banks and funds. When the value of this metric is rising, it means the asset is currently moving from offshore platforms to American ones. Such a trend can be a sign of demand from the US-based investors. On the other hand, the indicator going down suggests the foreign platforms have higher demand for BTC right now as the American exchanges are losing dominance to them. Related Reading: Bitcoin Bull Run Not Over Yet? This Ratio Has Just Seen A Golden Cross Now, here is a chart that shows the trend in the 100-day Exponential Moving Average (EMA) of the Bitcoin US to The Reserve Ratio over the past year and a half: As displayed in the above graph, the 100-day EMA Bitcoin US to The Rest Reserve Ratio had been declining earlier in the year, but during the past couple of months, its value has bottomed out and shown a reversal to the upside. This would mean that a transfer of BTC is now occurring from global platforms to the US-based ones. In the chart, the quant has marked the last instance of the indicator displaying this trend. It would appear that the previous turnaround in the metric had occurred in the last quarter of 2023 and had accompanied a BTC rally that would eventually take the asset to a new all-time high (ATH). The sharpest part of this increase in the indicator had come in the first quarter of 2024. The reason behind this acceleration had been the introduction of the spot exchange-traded funds (ETFs) in the US, which had quickly gained popularity among the investors. Related Reading: Dogecoin Surges 16%, But Here’s What DOGE ‘Risk Indicator’ Says About Rally From the graph, it’s also visible, though, that a while after the price had reached the ATH, the metric had topped out and witnessed a reversal in direction. Thus, the spot ETFs couldn’t keep up the same level of interest. The analyst notes that BTC’s sustained consolidation this year can be traced back to this decrease in the reserve of the US-based platforms. Since the indicator has once again shown a turnaround recently, it’s possible that Bitcoin could see the return of bullish momentum, if the previous pattern is to go by. BTC Price Following a 2% jump during the last 24 hours, Bitcoin has returned back to the $68,700 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com