Welcome to Slate Sundays, CryptoSlate’s new weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto. On Wall Street and Crypto Twitter, few names spark debate like Michael Saylor and his Bitcoin-hungry software company, Strategy. Gone are the days when […]
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Institutional money, funds, and public companies continue to increase their BTC holdings and currently control 12.3% of all Bitcoin supply. According to Bitcoin analytics platform Ecoinometrics, this figure has dramatically increased over the past 12 months. Institutional money added 5% to their combined holdings in the past year alone, helping propel Bitcoin’s price by over […]
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Bitcoin is once again gaining momentum, now trading above the $115,000 level after a modest surge yesterday. The move comes as markets price in growing expectations of a US Federal Reserve interest rate cut at its upcoming meeting next week. Risk assets, including crypto, have responded positively to the prospect of looser monetary policy, though the broader backdrop remains volatile. For Bitcoin, the challenge now lies in sustaining higher levels as bulls attempt to push further. While the reclaim of $115K signals strength, the path ahead is clouded with uncertainty as investors weigh macroeconomic risks alongside on-chain developments. Related Reading: Bitcoin Holds 4% Above STH Cost Basis As Mature Bull Cycle Demands Discounts Adding perspective, top analyst Axel Adler shared data showing that Bitcoin’s 30-day momentum currently sits in the Impulse Cooling Zone. This indicator suggests that while short-term momentum has softened, the broader uptrend remains intact. Adler emphasizes that the trend is not broken, framing the current phase as a period of consolidation rather than a structural reversal. With volatility likely to remain elevated in the days leading up to the Fed’s decision, Bitcoin’s ability to hold above $115,000 could prove decisive. The combination of macro catalysts and onchain resilience may define the cryptocurrency’s next significant move. Bitcoin Market Drift: Momentum, Liquidity, and Demand According to Adler, Bitcoin’s current setup reflects a phase of sideways action rather than a structural breakdown. He notes that negative 30-day momentum, while the price holds in the upper range, typically signals step-by-step unloading. In other words, coins are changing hands gradually without triggering a full reversal in the trend. For a proper restart and renewed acceleration, Adler identifies a key marker: the 30-day momentum must not only return to positive territory but also ideally push above +10%. That would confirm a shift back into a strong impulse phase. Until then, Adler emphasizes that the market remains in drift mode, shaped by thin liquidity. With fewer participants actively trading, the price can still crawl upward, largely due to weak supply and localized buybacks. However, this kind of advance carries the risk of a rapid collapse, since any spike in selling pressure could quickly overwhelm shallow order books. Crucially, Adler stresses that real demand does not emerge at cycle highs. Instead, it forms during moments when Bitcoin trades at an obvious discount. Referencing his earlier work on Short-Term Holder (STH) Cost Basis versus Premium/Discount, he highlights that meaningful inflows only arrive when the market offers value. In a mature bull phase, where buyers are wary of chasing peaks, sustained rallies depend on these discounted entry points rather than speculative momentum alone. This perspective underscores the delicate balance in Bitcoin’s current landscape: still structurally strong, but highly sensitive to liquidity shocks. Related Reading: Dormant Bitcoin Waking Up: Over 600K BTC Moved Onchain In Weeks BTC Holds Strong Above Demand Bitcoin is currently trading around $115,142 after a strong recovery from the $110,000 zone earlier this month. The 12-hour chart shows BTC climbing steadily and now pressing against a key cluster of moving averages. The 100 SMA at $114,610 is being tested as resistance, while the 200 SMA at $112,267 has now flipped into support, strengthening the bullish case. The 50 SMA at $111,987 is also trending upward, suggesting a short-term momentum shift in favor of buyers. A successful close above $116,000 would mark a significant step forward for bulls, potentially opening the path to retest $118,000 and the critical resistance at $123,217. This level remains the major barrier before Bitcoin can attempt another push toward its all-time highs. Related Reading: Ethereum Network Activity Heats Up As Fees Hit $1.4M In 24H On the downside, immediate support rests near $114,000, followed by the $112,000 zone where the 200 SMA is positioned. Losing this level could weaken momentum and invite another round of selling pressure, with downside risks extending toward $110,000. The chart signals that Bitcoin has regained its footing after recent volatility. If bulls can hold above the moving averages and break through $116,000, the next leg higher may be underway, though resistance at $123K will be the true test. Featured image from Dall-E, chart from TradingView
Bitcoin is currently at a crossroads, caught between bullish hopes and bearish pressure. Bulls are struggling to reclaim the $115K level, while bears have been unable to keep BTC below $110K, leaving the market in a tense state of uncertainty. This indecision comes as volatility increases ahead of the upcoming US Federal Reserve meeting, where investors expect a possible announcement on interest rate cuts. Such a decision could significantly impact risk assets, including Bitcoin, by shaping liquidity conditions in global markets. Related Reading: Ethereum Dominates Trading Volume Despite Market Cool-Off – Details Top analyst Axel Adler highlights that as of today, it has been 504 days since the last halving, a milestone that places the market in a mature phase of the bull regime. By comparing the current cycle with the previous two, Adler suggests that Bitcoin is showing characteristics consistent with late-cycle behavior. While this phase often brings heightened volatility and profit-taking, it also underscores the broader strength of the cycle, supported by institutional demand and long-term adoption trends. Bitcoin Redistribution Patterns Signal A Sustainable Cycle Adler explains that in this cycle, Bitcoin has displayed a unique redistribution pattern compared to past bull runs. In March, when BTC traded near $70,000, the market witnessed an extreme spike in Value Days Destroyed (VDD), a signal of significant long-term holder (LTH) activity. This was followed by two additional, but more moderate, distribution waves near $98,000 and $117,000. Importantly, these later waves did not surpass the March extremum, suggesting that selling pressure from LTHs has been segmented and less overwhelming than in prior cycles. This behavior points toward more sustainable redistribution, primarily due to institutional demand. Rather than one explosive top driven by panic or retail frenzy, supply is exiting in batches after each new all-time high. Institutional buyers, ETFs, and corporate treasuries are absorbing this selling, which spreads peaks across a longer period and creates stretched-out cycle dynamics. Looking ahead, final conclusions about the cycle’s ultimate peak hinge on the emergence of the Peak Flag, a well-established late-cycle signal. The Peak Flag is triggered when the spot price trades at roughly 11 times higher than the LTH realized price. Historically, this ratio indicates that the market price has far outpaced the steadily climbing base cost of long-term holders. Based on current trajectories, the nearest window for such a setup is October–November 2025. However, this depends on conditions aligning: a surge in major LTH spending, a spike in short-term volatility, and then a gradual fading of that volatility. Related Reading: Bitcoin LTH Aging Velocity Turns Negative: Distribution Phase Unfolds Price Testing Short-Term Resistance Bitcoin is trading at $112,952, staging a rebound after holding above the $110K support zone. The chart shows BTC attempting to build momentum, but clear resistance lies around $114K, in line with the 100-day moving average (green line). A sustained move above this level would be critical to validate further upside. The 50-day moving average (blue line) is trending downward, currently acting as dynamic resistance and compressing price action. Until BTC reclaims it decisively, momentum remains fragile. On the downside, the 200-day moving average (red line) around $101,900 offers a deeper layer of long-term support, far below current levels. Related Reading: Old Bitcoin Supply Unlocks: 7,626 BTC Aged 3–5 Years Moves Onchain Structurally, BTC is forming a short-term higher low compared to early September, hinting at stabilization. However, bulls face the challenge of reclaiming lost ground quickly before bears reassert pressure. The broader resistance zone between $115K and $117K will likely determine whether BTC continues its consolidation or mounts a stronger recovery attempt. Holding above $110K keeps the bullish case intact, but without a breakout over $114K–$115K, Bitcoin risks slipping back into a choppy range. Traders should watch for volume confirmation on any breakout attempt. Featured image from Dall-E, chart from TradingView
Bitcoin is now trading more than 9% below its $124,500 all-time high, reflecting the weight of recent selling pressure. Despite the pullback, bears have struggled to push the price below the $105,000 support zone, a level that has so far acted as a firm floor for the market. The debate among analysts is intensifying—some are calling for a deeper correction that could reset overheated sentiment, while others see current price action as a prelude to another test of all-time highs. Related Reading: Bitcoin Market Base Turns Neutral-Bearish As Flows Stay Weak Top analyst Maartunn shared fresh insights, describing the current environment as a “major Bitcoin reshuffle.” According to him, old coins are increasingly flowing into ETF wallets, a phenomenon marked by three significant waves: summer 2024, fall 2024, and summer 2025. Unlike past cycles, where such redistribution events typically occurred once before fading, this cycle has shown a repeated pattern of supply rotation. This unusual trend highlights a structural shift in Bitcoin’s market dynamics. Long-term holders appear to be reducing exposure, while ETFs and institutional vehicles continue to absorb supply. Whether this redistribution stabilizes the market or fuels further volatility will be a defining factor for Bitcoin’s trajectory in the coming months. Old Bitcoin Supply Unlocks: Market Dynamics In Focus According to Maartunn, a significant movement of 7,626 BTC aged between three to five years has recently taken place. This type of activity is notable because it signals long-term holders deciding to release dormant coins back into circulation. Historically, such events often coincide with heightened market uncertainty and shifts in investor behavior, reinforcing the narrative that old supply continues to play a decisive role in shaping Bitcoin’s trajectory. Despite this selling pressure, Bitcoin has managed to hold above the $110,000 level, showing resilience in the face of profit-taking from long-term holders. This stability is encouraging, as it demonstrates that buyers are stepping in to absorb supply, though the strength of that demand remains in question. Some market participants are pointing to ETF inflows as the primary reason Bitcoin has avoided a sharper correction. ETFs, by nature, act as a consistent demand sink, channeling institutional capital into Bitcoin through regulated frameworks. However, the risk remains that without robust new demand, the selling pressure from newly unlocked coins could begin to outweigh buying interest. If this happens, recent holders may face the brunt of volatility. For now, the market appears to be balancing between long-term holders’ profit-taking and institutional accumulation. This emerging dynamic highlights how Bitcoin’s current cycle differs from previous ones—ETF participation and repeated redistribution of old coins are reshaping the market structure. The coming weeks will be critical in determining whether ETF inflows are strong enough to offset the increased activity of older supply and keep Bitcoin on a bullish path. Related Reading: Bitmine Adds Another $65.3M In Ethereum – Details Testing Mid-Range Resistance Levels Bitcoin is currently trading at $112,409, showing a modest recovery after recent volatility. The chart highlights a rebound from the $109K–$110K demand zone, which has acted as short-term support during the past week. However, BTC now faces resistance as it tests the 50-day moving average (blue line at $111,661) and the 100-day moving average (green line at $114,382). These levels represent key barriers for bulls attempting to reclaim higher ground. The broader picture shows BTC still lagging behind its all-time high near $124,500, marked by the yellow resistance line. Despite multiple attempts, Bitcoin has struggled to generate enough momentum to retest this level, largely due to persistent selling pressure and cautious sentiment among traders. The red 200-day moving average at $114,746 sits just above current price action, creating a cluster of resistance levels that could limit upside in the near term. Related Reading: BNB Chain Surpasses 650M Unique Addresses – Binance Adoption Continues If Bitcoin manages to close above $114K, it would confirm bullish continuation and potentially set the stage for a retest of the $120K–$124K zone. Conversely, failure to sustain above $110K could see BTC revisiting lower supports around $106K–$108K. For now, consolidation dominates, with bulls needing fresh demand to push beyond resistance. Featured image from Dall-E, chart from TradingView
On-chain data shows Bitcoin investors who purchased near the price top are choosing to hold even after the latest pullback. Bitcoin Cost Basis Distribution Shows Supply Still Firm Above $118,000 In a new post on X, the on-chain analytics firm Glassnode has discussed the latest trend in the Cost Basis Distribution Heatmap of Bitcoin. This indicator tells us about how much of the asset’s supply was purchased at the various spot price levels. In on-chain analysis, supply cost basis is considered a key concept, as investor behavior is often more pronounced when the cryptocurrency is trading at or near its acquisition level. Related Reading: Bitcoin Neutral Sentiment Didn’t Last Long: Investors Already Greedy Again When the market mood is bullish, investors in profit may see price declines toward their cost basis as ‘dip‘ buying opportunities. This can make levels concentrated with supply under the spot price support boundaries. Similarly, holders in loss can look forward to retests of their acquisition mark so that they can exit the market with their money ‘back.’ This selling can provide resistance to the asset. Now, here is the chart shared by Glassnode that shows the trend in the Bitcoin Cost Basis Distribution Heatmap over the past month: As displayed in the above graph, the Bitcoin Cost Basis Distribution Heatmap formed a sort of “airgap” as a result of the cryptocurrency’s explosive run toward the new all-time high (ATH) last month. Gaps like these form whenever BTC runs by levels too fast for supply to change hands, leaving no dense cost basis centers in that range. The airgap that gets left behind corresponds to a “free for all” space in terms of investor behavior, as there are no major support or resistance levels built into it yet. From the chart, it’s visible that as Bitcoin consolidated earlier, supply gradually became concentrated at levels above $116,000, but below that mark, supply remained thin up to $109,000. With the latest plunge, the asset is finally exploring this airgap, and so far, supply is being filled in. This could be an indication that the investors are interested in buying the dip, which may help form a support cluster in the range. Another interesting trend that’s apparent in the graph is that a notable amount of supply still retains its cost basis between $118,000 and $120,000. While some panic selling has occurred from investors who purchased in this range, a lot of them appear to be choosing to hold strong instead. Related Reading: XRP MVRV Flashes Death Cross: More Decline Ahead? It now remains to be seen how the Bitcoin airgap would develop in the coming days and whether these top buyers would continue to stand firm. BTC Price At the time of writing, Bitcoin is floating around $114,200, down 4% in the last seven days. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
As Bitcoin (BTC) continues its steady climb toward its all-time high (ATH) of $111,814 recorded in May 2025, the cryptocurrency is witnessing a notable shift in its holder composition. New on-chain data suggests that BTC “weak hands” are selling their holdings to larger investors. Bitcoin Moving Upstream From Weak Hands To Big Money According to a recent Cryptoquant Quicktake post by contributor IT Tech, Bitcoin’s supply is moving upstream from retail investors to larger holders. This movement denotes a fundamental shift in the investor sentiment toward the largest digital asset. Related Reading: Bitcoin Following ABCD Pattern? Analyst Sees Path To $137,000 Retail investors – those holding less than one BTC – have seen a significant reduction in their holdings, with total balances dropping by 54,500 BTC year-over-year (YoY), to 1.69 million BTC. On average, this cohort has experienced outflows of approximately 220 BTC per day. In contrast, large holders – wallets with 1,000 BTC or more – have expanded their total BTC exposure by 507,700 BTC over the same period, bringing their combined holdings to 16.57 million BTC. This group is now seeing average inflows of around 1,460 BTC per day. Institutional interest in Bitcoin also continues to rise at a historic pace. Notably, institutions are currently absorbing about seven times more BTC than retail investors are selling. At the same time, the post-halving issuance of BTC is currently hovering around 450 BTC a day, raising the possibility of a true “supply squeeze” amid strong buying pressure. To recall, BTC underwent its latest halving in April 2024, when the mining reward for each block on the chain was slashed from 6.25 BTC to 3.125 BTC. In their commentary, IT Tech noted that meaningful retail interest has yet to kick in during this cycle. Unlike previous market tops – where retail investors aggressively accumulated BTC – current data shows them exiting the market, suggesting that the bull run may still have more room to grow. Another metric that points toward the market top being far from the current price level is the Bitcoin 30-day MA Binary CDD. In a recent analysis, CryptoQuant contributor Avocado_onchain noted that the BTC market is “far from overheating.” BTC Short-Term Holder Floor Approaching $100,000 As BTC remains range-bound between $100,000 and $110,000, the short-term holder (STH) realized price – a key psychological support level – is steadily climbing. It currently sits near $98,000, reflecting rising investor conviction. Related Reading: Bitcoin Poised For Rally As Geopolitical Tensions Ease And Inflation Expectations Fall Further on-chain data also shows that both retail and institutional holders are reducing exchange deposits, signalling reluctance to sell at current levels. This behavior supports the idea that many are positioning for further upside. At press time, BTC trades at $107,012, down 0.5% in the past 24 hours. Featured image with Unsplash, charts from CryptoQuant and TradingView.com
The supply of Bitcoin held on centralized exchanges has reached its lowest point since 2019 according to data from CryptoQuant. As of late April 2025, only about 2.5 million BTC remain on exchanges, representing a drop of 500,000 coins since the end of 2024. Bitcoin supply on exchanges shows shift toward self-custody The decline in […]
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Bitcoin is facing a crucial test as its price continues to swing without clear direction, navigating a tense and uncertain macroeconomic environment. While volatility persists, many analysts believe the worst phase of the correction may be over. After dropping over 30% from its all-time high, Bitcoin has managed to hold above key support levels, reinforcing short-term optimism. Related Reading: Solana Eyes $200 Target As It Gains Momentum – Recovery Could Mirror 3-Month Downtrend However, global tensions—driven by escalating trade disputes and aggressive tariff policies from the US—are shaking financial markets. The specter of a global recession looms large, making investors cautious across both traditional and digital asset classes. Despite the noise, on-chain data from Glassnode adds a layer of optimism. According to their latest analysis, 63% of Bitcoin’s circulating supply has not moved in at least one year. This historic level of dormant supply highlights the growing conviction among long-term holders, who are weathering the current volatility without panic. Such behavior reinforces the belief that Bitcoin’s foundation remains solid, even as short-term traders exit the market. The strong hands are holding firm, and their resilience could lay the groundwork for the next major move—once macroeconomic conditions begin to stabilize. Bitcoin Holds Strong Amid Global Volatility: Rising Long-Term Conviction Massive price swings continue to shake both crypto and equities markets as volatility intensifies in response to rising global tensions and unresolved macroeconomic threats. Bitcoin, however, has held strong above the $81K level, suggesting that a potential recovery may be taking shape. The 90-day pause on U.S. tariffs—excluding China—offered temporary relief, but uncertainty still dominates investor sentiment. Ongoing trade conflicts between the United States and China threaten global economic stability, with many analysts warning of a potential recession if no resolution is reached. These fears are weighing heavily on risk assets across the board. Despite the challenging backdrop, Bitcoin’s performance suggests underlying resilience. Bulls are gradually regaining momentum after the recent sharp correction, and many market watchers believe the worst phase of the drawdown may be over. Adding to the optimism, top analyst Quinten Francois shared Glassnode data revealing that 63% of the Bitcoin supply has not moved in at least a year. This metric, often associated with strong long-term conviction, shows that the majority of Bitcoin holders are choosing to hold through volatility rather than sell into weakness. It reflects a maturing investor base with confidence in Bitcoin’s long-term value, even amid global uncertainty. If current support levels continue to hold and macro conditions stabilize, Bitcoin may be on the verge of a sustained recovery. Related Reading: Ethereum Long-Term Holders Show Signs Of Capitulation – Prime Accumulation Zone? BTC Price Stalls Below Key Resistance After Bullish Surge Bitcoin is currently trading at $82,600 following a strong surge that helped the asset recover from recent lows. The move has brought some short-term optimism to the market, especially as BTC managed to reclaim the $81K level—a key support zone that now needs to hold for bullish momentum to continue. However, significant resistance lies ahead. The price stopped near the 4-hour 200 Moving Average, currently sitting around $83,500. This technical level has consistently acted as a short-term barrier since Bitcoin lost the $100K mark, and bulls need a decisive breakout above it to confirm the beginning of a true reversal. If Bitcoin can break and hold above $83,500, the next immediate target is the $85K zone. Reclaiming that range could open the path for a push toward the $88K–$90K resistance band and potentially resume the longer-term uptrend. Related Reading: Dogecoin Whales Offload Over 1.32 Billion DOGE In 48 Hours – Risk-Off Or Panic Selling? On the flip side, failing to hold above $81K would signal weakness and likely invite renewed selling pressure. A breakdown below $80K would reinforce bearish sentiment, possibly triggering a fresh wave of panic selling and sending BTC back toward the $75K support zone. Bulls must act quickly to defend current levels and push higher. Featured image from Dall-E, chart from TradingView
Bitcoin has faced significant selling pressure and underwhelming price action since late December, leading many investors to question its short-term trajectory. Despite these challenges, BTC continues to hold above key demand levels, maintaining a long-term bullish outlook. This resilience underscores the broader market’s confidence in BTC as a robust store of value and a leading […]
Bitcoin is on the verge of a historic breakout, consolidating just below the highly anticipated $100K mark. After surging over 8% since the start of the year, the leading cryptocurrency has captured the attention of investors and analysts alike. While the market remains cautiously optimistic, all eyes are on BTC for confirmation of its next […]
Bitcoin finds itself at a pivotal juncture as the market navigates uncertainty and growing doubt in the days ahead. After reaching an all-time high (ATH), the price tumbled sharply to the $92,000 level, triggering a sentiment shift from extreme bullishness to cautious optimism. This rapid correction has left many traders questioning the sustainability of Bitcoin’s […]
Bitcoin is currently trading at $97,600, following a sharp dip from its all-time high and a modest recovery from the critical $92,000 support level. This recent price movement highlights the market’s ongoing volatility as investors grapple with shifting sentiment and technical levels. Despite the rebound, Bitcoin now faces a significant challenge in sustaining its upward momentum. Related Reading: XRP Whales Loading Up – Data Reveals Buying Activity Analyst Ali Martinez shared compelling data revealing that Bitcoin encounters a massive resistance zone between $97,500 and $99,800. This “brick wall” is fortified by the activity of 924,000 wallets, which collectively purchased over 1.19 million BTC in this range. Such strong on-chain resistance could hinder BTC’s ability to reclaim the psychological $100,000 level in the near term. This critical area will likely determine Bitcoin’s next move. Successfully breaking through this zone could pave the way for another rally, while failure to do so might lead to heightened selling pressure and a retest of lower support levels. As the market watches this pivotal phase unfolds, all eyes remain on key technical and on-chain signals to gauge whether Bitcoin’s recovery is sustainable or if a larger correction looms ahead. Bitcoin Holding Strong Bitcoin has experienced intense price swings over the past few days, with a 15% correction followed by a swift 6% bounce in under three days. This rapid movement highlights the serious volatility gripping the market, with Bitcoin mirroring the broader uncertainty. Despite the turbulence, there is growing optimism among analysts regarding Bitcoin’s outlook, as its recovery from aggressive selling pressure yesterday took only a few hours. Martinez shared key insights on X, shedding light on a significant resistance zone that Bitcoin must overcome to regain momentum. According to Martinez, Bitcoin faces a “brick wall” between $97,500 and $99,800. This range is fortified by 924,000 wallets that collectively purchased over 1.19 million BTC within these levels. This substantial cluster of on-chain resistance could act as a barrier to Bitcoin’s upward trajectory. Related Reading: Bitcoin Data Reveals No Significant Panic Selling In The Market – Shakeout Or Trend Shift? If Bitcoin can manage to break above this critical resistance zone, it could open the door to new all-time highs. However, failure to surpass this range may lead to increased selling pressure and further consolidation below the $100,000 mark. For now, Bitcoin remains resilient, holding its ground amid market volatility, with many analysts cautiously optimistic about its potential for another rally. Technical Analysis Bitcoin is currently trading at $98,200, showing a strong recovery from the $92,000 mark, which has proven to be a significant demand level. This reaction from $92K signals strength in Bitcoin’s price action, indicating the potential for bullish momentum in the weeks ahead. If BTC manages to push above the critical $100,000 level in the coming days, it could trigger a massive surge, potentially driving the price to new all-time highs. This psychological and technical milestone is expected to ignite a wave of buying pressure as investors and traders anticipate the next leg of the rally. However, the market remains uncertain, and the possibility of Bitcoin entering a sideways consolidation phase cannot be ruled out. In this scenario, BTC could remain range-bound between its all-time highs and local lows, reflecting a period of accumulation as the market recalibrates after recent volatility. Related Reading: On-Chain Metrics Reveal Cardano Whales Are ‘Buying The Dip’ – Details For now, the $92,000 mark has provided a strong foundation for Bitcoin, and all eyes are on the $100,000 level as the next major test. Whether BTC breaks out or consolidates, its current resilience suggests that Bitcoin remains poised for significant moves in the near term. Featured image from Dall-E, chart from TradingView
One Bitcoin developer argues that any change to Bitcoin’s fixed supply, while theoretically possible, wouldn’t be considered “Bitcoin” anymore.
US spot Bitcoin ETFs now collectively hold more Bitcoin than is estimated to be held by the anonymous Bitcoin creator, Satoshi Nakamoto.
According to data from CryptoQuant, Bitcoin (BTC) reserves on cryptocurrency exchanges have dropped to a multi-year low. This decline coincides with the ongoing bull market, which has pushed the digital asset’s price closer to the $100,000 mark. This significant decline could have major implications for the asset’s supply-demand dynamics. Investor Confidence Increasing In Bitcoin? During a bull market, Bitcoin reserves on exchanges increase as long-term holders (LTH) and short-term holders (STH) transfer their holdings to trading platforms to take profits. However, the current bull market is breaking this trend, as BTC exchange reserves dwindle. Related Reading: Bitcoin Set To Hit $140,000 Target In December – Here’s Why Data from Cryptoquant indicates that over 171,000 BTC have been withdrawn from crypto exchanges since pro-crypto Republican candidate Donald Trump won the November US presidential election. The high amount of BTC being withdrawn from exchanges suggests that holders are likely moving their holdings to cold wallets, signaling long-term confidence in BTC. According to the chart below, BTC exchange reserves witnessed a sharp decline starting in November 2022 – falling from 3.33 million BTC on November 5, to 2.93 million BTC on December 21. Another notable drop began in February 2024, likely in anticipation of the Bitcoin halving in April and the ensuing supply scarcity of the digitally-programmed asset. During this period, reserves decreased from 3.05 million BTC to 2.63 million BTC by October 30 – a decline of 13.77% over eight months. Exchange reserves stand at just 2.46 million BTC, the lowest level in years. This ongoing decline hints at a potential supply crunch for Bitcoin, which could propel its price upward in the coming months. BTC Illiquid Supply Continues To Grow Another data point that supports the long-term holding hypothesis for BTC is Glassnode’s illiquid supply metric. The chart shared below shows that the digital asset’s illiquid supply has grown by 185,000 BTC in the past 30 days. Notably, the illiquid supply now accounts for approximately 14.8 million BTC, representing nearly three-fourths of the current circulating supply of 19.8 million BTC. If this trend continues, Bitcoin’s price could experience a significant surge due to supply scarcity. However, this could also introduce heightened volatility. Related Reading: Bitcoin Resets Open Interest, Targets $100,000 After Holding Key Support – Details While the decline in exchange reserves and rising illiquid supply are long-term bullish indicators for Bitcoin, short-term price movements could see a brief correction. According to crypto analyst Ali Martinez, BTC has formed a head-and-shoulder pattern on the hourly chart, which may trigger a sell-off that can push the asset’s price to $90,000. That said, another seasoned crypto analyst, Rekt Capital, said that after briefly touching the $98,000 price level, BTC has already entered the parabolic phase of the rally. BTC trades at $94,968 at press time, down 1.4% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant, Glassnode, X and Tradingview.com
Bitcoin (BTC) has held steady above the $88,000 mark over the past few days, showcasing resilience as the broader market anticipates its next move. Price action remains robust, leaving investors waiting for lower prices frustrated, as BTC shows no signs of providing an easy entry point anytime soon. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target Key data from CryptoQuant reveals that long-term holders (LTHs) are currently in an active distribution phase, signaling increased selling activity from this group. Despite this, the market has absorbed the additional supply without significant price impact, highlighting the strong demand supporting BTC at these levels. As Bitcoin consolidates just below its all-time highs, traders and analysts are closely watching whether the current momentum will lead to a breakout or if a retracement is on the horizon. The balance between rising demand and LTH distribution will likely determine BTC’s near-term trajectory. Can Bitcoin Set New ATH This Week? Bitcoin is on the brink of breaking its all-time high (ATH) again this week, sitting just 2% below the $93,483 level set last Wednesday. Excitement is building as analysts and investors closely watch BTC’s price action, anticipating whether it will surge past this critical level or enter a prolonged consolidation phase. While the bullish momentum remains strong, the possibility of a sideways movement could keep the price range-bound for an extended period before the next significant move. Data from CryptoQuant analyst Axel Adler highlights that long-term holders (LTHs) are currently in an active distribution phase. Despite this, the increased supply has not significantly impacted Bitcoin’s price, thanks to strong demand that continues to absorb selling pressure. This dynamic reflects the robust market interest that is supporting BTC near its record highs. Adler’s analysis also points to the LTH Spending Binary Indicator, which signals peak spending activity among LTHs. At the same time, the growing LTH supply suggests that a portion of long-term holders remain confident in BTC’s future price potential. These factors create a unique environment where high demand offsets distribution, keeping the bullish momentum intact. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation As Bitcoin flirts with its ATH, market participants await confirmation of whether the price will push into uncharted territory or pause for consolidation. The outcome will likely set the tone for BTC’s trajectory in the coming weeks, with investors betting on the continued upside in this resilient rally. BTC Price Action: Key Levels To Hold Bitcoin is trading at $91,820, following several days of sideways consolidation just below its all-time high (ATH). Despite the pause, BTC has maintained its position above the $87,000 support level since the last breakout, signaling its importance as a crucial line for bulls to defend. Holding this level is vital for sustaining upward momentum and setting the stage for Bitcoin to push into uncharted territory. However, a drop below $87,000 could shift market sentiment, likely triggering a correction as BTC searches for fresh demand. The next logical support zone lies around the $80,000 mark, with the potential for a deeper pullback if selling pressure intensifies. Such a retrace would provide an opportunity for sidelined buyers but could temporarily stall BTC’s rally. Bitcoin’s price action remains robust, bolstered by demand that continues to outpace supply. This strong market interest has mitigated the impact of profit-taking and selling activity, keeping the broader uptrend intact. Related Reading: Solana Breaks Above Key Resistance At $225 – ATH Next? As BTC consolidates near its ATH, traders closely watch key levels to determine whether the next move will be a breakout to new highs or a dip to test lower support zones. Either outcome will likely shape Bitcoin’s trajectory in the coming weeks. Featured image from Dall-E, chart from TradingView
Bitcoin spent the weekend trading within a relatively narrow range of $91,700 to $88,700, demonstrating robust price action. Despite the lack of significant price movement, the consistent ability to hold within this range underscores Bitcoin’s current strength and growing market confidence. Key data from CryptoQuant adds further optimism, revealing a notable reduction in selling pressure. The data indicates fewer sellers in the market, aligning with the broader bullish sentiment that has fueled Bitcoin’s recent momentum. With the supply side constrained, demand could propel BTC higher, reinforcing the strong price action seen over the weekend. Related Reading: Solana Breaks Above Key Resistance At $225 – ATH Next? This optimistic backdrop has sparked predictions of aggressive surges in the coming months as Bitcoin remains well-positioned to capitalize on favorable market dynamics. Analysts suggest that with selling pressure limited and demand continuing to grow, Bitcoin could be gearing up for its next significant breakout. Investors are watching closely to see if this strength will lead to a new phase of upward momentum, potentially pushing BTC into uncharted territory as the market anticipates the next major move in this bullish cycle. Bitcoin Flow To Exchanges Supports Bulls Bitcoin has had an exhilarating few weeks, surging 39% in just nine days and marking one of its most aggressive upward moves this cycle. The recent rally has left analysts and investors both excited and cautious as Bitcoin continues to show resilience above key levels. While many expect BTC to maintain its bullish trajectory, opportunities to buy at lower prices are becoming increasingly scarce. Data from CryptoQuant analyst Axel Adler adds valuable insight into the current market dynamics. Adler notes that the average flow of Bitcoin to exchanges over the past 30 days has not surpassed the average volume over the last 365 days. This indicates a lack of significant selling pressure, suggesting that current holders are more inclined to retain their Bitcoin than sell into the rally. With fewer sellers in the market, Bitcoin’s price has the potential to climb further as demand increases. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation However, analysts agree that consolidation around the current price range would be a healthy step before the next leg up. Consolidation could allow the market to stabilize, attract fresh demand, and establish stronger support levels for the next growth phase. BTC Less Than 2% Away From ATH Bitcoin is trading at $91,700, just under 2% away from its all-time high (ATH) of $93,483. This proximity to record-breaking levels has fueled optimism among investors, with the price appearing poised to push above the ATH again this week. Bitcoin’s price action remains robust, supported by increasing demand and bullish sentiment in the market. The sustained strength of BTC’s price has been attributed to its ability to maintain key levels during periods of consolidation. This resilience indicates buyers continue to dominate, reinforcing the possibility of another breakout above the $93,483 mark. Analysts expect breaching this level would likely spark another wave of aggressive buying, potentially driving Bitcoin further into uncharted territory. Related Reading: XRP Breaks Above Multi-Year Resistance – Top Analyst Shares Price Target However, caution remains warranted. A breakdown below $87,000 would signal a retrace for Bitcoin, potentially initiating a short-term correction in the coming days. Such a move could provide a healthier foundation for the next growth phase, allowing BTC to consolidate and attract fresh demand. Featured image from Dall-E, chart from TradingView
After weeks of significant volatility and uncertainty, Bitcoin is currently at a turning point. The recent Federal Reserve interest rate cut, coupled with the escalating conflict between Iran and Israel, has led to erratic price movements, causing traders to navigate a landscape filled with anxiety. Despite this tumultuous environment, key data from CryptoQuant indicates that […]
According to market signals that have historically preceded major price rallies, Bitcoin is gearing up for its next potential bull run. A CryptoQuant analyst named ‘Tarek’ has recently highlighted key indicators in a post on the CryptoQuant QuickTake platform, suggesting that Bitcoin’s price might soon experience a significant upward movement. These indicators include declining Bitcoin reserves on exchanges and increasing stablecoin reserves, which create an optimistic market outlook. Related Reading: Is Bitcoin Heading For A Bear Market? Analysts Weigh In On The Price Struggles Key Indicators Signal Growing Buying Power According to the report shared by Tarek, over the past several months, Bitcoin’s exchange reserves have been on a downward trend, a phenomenon that often signals reduced selling pressure. When investors move their Bitcoin to cold storage, it limits the available supply on exchanges, which can result in a tighter market. This shift in supply dynamics is generally seen as bullish, suggesting that investors are holding their Bitcoin with the expectation of future price increases. In contrast to the decreasing Bitcoin reserves, Tarek highlighted that stablecoin reserves on exchanges are also rising. Notably, stablecoins such as USDT and USDC are widely used to store value during market uncertainty, allowing traders to deploy capital quickly when the right opportunity arises. The rising stablecoin reserves suggest that market participants are preparing for a potential entry point, further strengthening the bullish outlook for Bitcoin. This combination of shrinking Bitcoin reserves and rising stablecoin reserves creates an environment ripe for a price breakout. Tarek noted: The combination of shrinking Bitcoin reserves and rising stablecoin reserves sets the stage for a bullish price breakout. With reduced Bitcoin supply and growing buying power, the market is primed for a potential upward move. Historically, this supply-demand imbalance has led to significant price gains. Concluding the report, Tarek mentioned that the occurrence of a major rally might be as close as in the “coming weeks,” noting: As the market supply tightens and buying power builds, we could be on the verge of a price rally. Investors should stay alert for a potential breakout in the coming weeks. Bitcoin Current Market Performance Amid the bullishness in Bitcoin’s on-chain data, the asset still struggles to make a major move above the $60,000 psychological price level. So far, BTC has declined by 1.6% in the past day and 2.3% in the past week, pushing its price below $57,000 once again to trade for $56,047 at the time of writing. Related Reading: New ATH Incoming? Analyst Reveals Why Bitcoin’s Next Rally Is Around the Corner Interestingly, despite the consistent decline in BTC’s price, the daily trading volume of the asset appears to be seeing an opposite trend, rising from below $15 billion last week to above $34 billion. Featured image created with DALL-E, Chart from TradingView
According to ETC Group, the new high is a sign that the halving-induced supply shock is intensifying.
The pro-crypto Senator introduced the Bitcoin Reserve Bill while declaring "this is the solution, this is the answer, this is our Louisiana purchase moment, thank you Bitcoin!"
On-chain data shows the Bitcoin exchange inflow trend has been at its lowest in almost a decade recently, a sign that may be bullish for the asset. Bitcoin Exchange Inflows Have Been On The Decline Recently As pointed out by CryptoQuant author Axel Adler Jr in a post on X, the BTC exchange inflows have […]
Data from the on-chain analytics firm Glassnode has revealed that around 9.5% of the Bitcoin supply changed hands above the $60,000 level. 1.87 Million Bitcoin Was Acquired At Price Levels Higher Than $60,000 In its latest weekly report, Glassnode has shared how the supply distribution of Bitcoin looks in terms of which levels the investors […]
Certain Bitcoin fundamentals suggest the flagship crypto token is well primed for further growth in this bull market. However, its recent price decline has sparked concerns about the reason for this downward trend despite everything pointing to a sustained upward movement. Bitcoin Supply On Exchanges Hit 4-Year Low Data from the on-chain analysis platform CryptoQuant highlighted that the supply of Bitcoin on exchanges has seen nearly a 40% drop in 4 years and is reducing ahead of the Bitcoin halving. This underscores the bullish sentiment around the Bitcoin ecosystem as the decreasing supply on supply suggests that most investors have no plans to sell their holdings anytime soon. Related Reading: Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern The CryptoQuant data also noted that Bitcoin’s demand is outpacing its supply, which is said to have been the prevailing trend since 2020. This development offers a bullish narrative as it can continue to increase Bitcoin’s value since “scarcity boosts perceived value.” This trend is also expected to be sustained once the Halving occurs since miners’ supply will be cut in half. Interestingly, the imbalance between Bitcoin’s demand and supply has led crypto analysts like MacronautBTC to believe that BTC’s price could rise to as high as $237,000. As such, there are still high expectations for Bitcoin despite the crypto token hitting a new all-time high (ATH) of $73,750. Why Bitcoin’s Price Is Crashing Crypto analyst Alex Kruger has outlined different reasons why Bitcoin’s price is crashing despite its strong fundamentals. The first reason he alluded to was the fact that crypto traders in the derivatives market look to be overleveraged, possibly because greed seems set to be setting in with traders deploying more capital in anticipation of further price surges. Kruger mentioned that the ETH could also be dragging the market down with the hopes of the SEC (Securities and Exchange Commission) approving the Spot Ethereum ETFs waning. Bitcoinist recently reported that the approval odds for these investment funds have plummeted immensely in the past few months, dropping to an alarming 35%. Related Reading: Dogecoin Growth Hits Roadblock As Holder Activity Enters Dreaded Period Of Stagnancy The third reason that Kruger mentioned is the negative Bitcoin ETF inflows, which have become a trend lately. Interest in these Bitcoin funds has cooled off, with investors opting to take profit instead. On March 19, BitMEX Research revealed that these ETFs saw a record net outflow of $326m. Crypto trader and analyst Rekt Capital also suggested that Bitcoin is already in the ‘Final Pre-Halving Retrace.’ Therefore, significant price corrections can be expected ahead of the Halving event, which is set to take place in April. At the time of writing, Bitcoin is trading at around $63,000, down in the last 24 hours, according to data from CoinMarketCap. BTC rises above $64,000 | Source: BTCUSD on Tradingview.com Featured image from Financial Commission, chart from Tradingview.com