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According to CoinShares’ latest weekly report, crypto investment products registered slight net inflows last week, with a total of $6 million entering the market. The figures reflect ongoing uncertainty among investors, with notable variations in sentiment both across regions and among individual crypto assets. Despite a relatively stable start to the week, broader macroeconomic data, particularly from the US, had a visible impact on fund flows. Related Reading: Ethereum Attempts Breakout From Multi-Month Downtrend, But Can ETH Hold $1,600? US Crypto Outflows Lead the Week, While European Sentiment Remains Positive CoinShares’ Head of Research, James Butterfill, noted that the release of “stronger-than-expected “US retail sales data mid-week coincided with a significant capital outflow. As a result, although there were early inflows, mid-week saw a pullback of $146 million, erasing much of the earlier gains. Regional trends were particularly mixed. The United States led the weekly outflows, with investment products domiciled in the country seeing a net withdrawal of $71 million. By contrast, European markets maintained a more positive outlook. Switzerland saw inflows of $43.7 million, Germany followed with $22.3 million, and Canada added $9.4 million, highlighting regional divergence in crypto investment behavior. Bitcoin remained the focal point of fund movement throughout the week. Intra-week flows signaled conflicting views among investors, ultimately concluding with minor outflows totaling $6 million. Short Bitcoin products also saw continued reductions, with $1.2 million in outflows last week. This marks the seventh consecutive week of outflows for short positions, bringing the cumulative withdrawal from these products to $36 million. According to CoinShares, this now accounts for approximately 40% of total assets under management (AUM) in short Bitcoin investment vehicles. Ethereum Sees Continued Pressure, While XRP Maintains Upward Trend Ethereum faced ongoing outflows, continuing an eight-week trend. The asset experienced a further $26.7 million in withdrawals last week, bringing total crypto outflows since the start of the recent streak to $772 million. Despite this consistent pressure, Ethereum still holds the second-highest position in year-to-date (YTD) fund flows, recording $215 million in net inflows so far in 2024. This indicates that while recent sentiment has cooled, longer-term interest remains comparatively strong. In contrast, XRP recorded notable weekly inflows of $37.7 million. This recent performance has elevated the token to third place in YTD fund flows, just behind Ethereum, with a total of $214 million in net inflows since the beginning of the year. Related Reading: XRP Price Prognosis: Analyst Sees $14 In Spite Of Current Troubles Thecrypto’s resilience in the face of broader market uncertainty has been reflected in recent fund behavior and continues to draw attention from investors allocating capital to diversified crypto asset portfolios. Featured image created with DALL-E, Chart from TradingView

Bitcoin has now been seeing a consistent price increase, indicating a resumption in upward momentum. So far, the asset has regained some of its losses from its recent period of correction, with its price now trading above $87,000, closing in on the $90,000 psychological level. At the time of writing, BTC trades at $87,361, surging a 3.4% in the past day. Interestingly, despite the positive price movement, underlying activity in the broader Bitcoin market presents a more complex narrative. While spot price action appears relatively stable, significant outflows have been recorded from Bitcoin spot exchange-traded funds (ETFs), suggesting that institutional flows may not be aligning with the current rally. This contrast has led analysts to examine market dynamics beyond just price, particularly through the lens of on-chain behavior and historical patterns. Related Reading: Bitcoin Enters New Phase: Analyst Predicts Positive Movement In 2025 Bitcoin Spot ETF Outflows Reach Record Levels Amid Steady Price Action Recent analysis from CryptoQuant contributor Darkfost highlights an ongoing trend of capital outflows from spot Bitcoin ETFs. According to the data, over $4.8 billion has exited these products since they reached their cumulative inflow peak. Notably, this marks the largest drawdown since the ETFs were launched, signaling a shift in institutional behavior. However, Bitcoin’s price has shown limited sensitivity to this decline in ETF holdings, maintaining relative stability despite what might otherwise be interpreted as bearish pressure. Darkfost contextualized this by noting that ETF volumes currently represent around 1.5% of the total aggregated trading volume when factoring in both spot and futures markets. This suggests that although the ETF outflows are numerically significant, their overall impact on market structure may be limited due to the broader scale of liquidity available through other instruments. The data imply that short-term fluctuations in ETF holdings may not directly dictate market direction, particularly in periods of strong retail or futures-driven participation. Historical On-Chain Indicators Suggest a Potential Cycle Repeat Another CryptoQuant analyst, BilalHuseynov, examined long-term on-chain indicators and noted similarities between the current cycle and previous market phases. Drawing comparisons between 2018 and 2025, the analyst highlighted how Bitcoin’s recent price movement mirrors the behavior observed at the end of the 2018 bear market. According to the analysis, historical patterns suggest a potential turning point, where bearish sentiment transitions into a longer-term bullish trend. BilalHuseynov wrote: After an extended period in the red zone, Bitcoin is once again approaching a key threshold. The structure of the recovery and sentiment indicators appears aligned with those seen in previous transitions from downturn to uptrend. While the analyst acknowledged that macroeconomic variables and market sentiment can still alter the outcome, the pattern recognition suggests that historical precedent could offer insight into the present market state. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s price action continues to draw attention as it briefly surpassed $87,000 in today’s trading session, marking a notable 3.3% increase over the past 24 hours. Though it has since slightly pulled back to around $86,815 at the time of writing, the asset’s gradual recovery since last week appears to be building a foundation for potential upward movement. Analysts now seem to be monitoring technical and on-chain trends as sentiment begins to lean toward a short-term bullish outlook. Particularly, on-chain data platform CryptoQuant has highlighted notable shifts in market behavior, including insights into funding rates, investor positioning, and psychological resistance levels. Despite the gains, not all investor groups are experiencing profits, with short-term holders still facing unrealized losses. Related Reading: What’s Next For Bitcoin After Crossing $87,000? Expert Discusses Possible Outcomes Several Bitcoin Bullish Signals Identified A recent analysis shared by CryptoQuant contributor EgyHash outlines several indicators suggesting that Bitcoin could be preparing for another upward leg. The analyst points out a significant $6 billion rise in open interest across derivatives markets over the past two weeks. Open interest measures the total value of outstanding futures contracts, and its growth typically reflects increased participation or confidence in the direction of price movement. This metric, coupled with a rise in funding rates, indicates an uptick in long-position interest among traders. Another key metric, exchange inflows, which track how much Bitcoin is being moved onto centralized exchanges, has declined notably during this same period. When fewer coins are sent to exchanges, it can imply reduced intent to sell, as holders typically deposit assets to liquidate them. This reduction in exchange inflow has been interpreted as a decrease in selling pressure, potentially supporting a more stable price environment in the short term. These on-chain metrics collectively hint at a market that may be gearing up for a continuation of its current trend, assuming external variables remain favorable. New Investors In Profit While Short-Term Holders Face Struggle While certain metrics lean bullish, a deeper look at investor categories reveals diverging outcomes. Another CryptoQuant analyst, Crazzyblockk, points out that Short-Term Holders (STHs), or those who purchased BTC within the last six months, remain in an unrealized loss position. Their average acquisition price stands at approximately $91,000, forming a key resistance level that may influence upcoming price movement. As long as Bitcoin trades below this level, latent sell pressure could persist, especially if upward momentum stalls. Conversely, new investors — defined as those who entered the market within the past month — have recently returned to profit. With a realized gain of 3.73%, this group is showing signs of renewed confidence, potentially contributing to near-term price support. Related Reading: Bitcoin Surges Above $87,000 In Sudden Move — Here’s The Catalyst However, according to the analyst, the current risk zone remains active until Bitcoin firmly closes above the $91,000 mark. Crazzyblockk wrote: Until BTC closes above the $91K threshold, Short-Term Holders remain in loss. This may sustain latent sell pressure, especially if price momentum weakens — reinforcing the importance of a decisive breakout above STH realized price to neutralize this overhang. Featured image created with DALL-E, Chart from TradingView

XRP has been trading under pressure in recent weeks, losing much of the momentum it built during its late 2024 to early 2025 rally. After reaching highs above $3.40, the asset has experienced an 18.3% decline over the past month, reflecting broader market softness. At the time of writing, XRP trades significantly below its peak at a price of $2.06, with subdued investor activity and falling market participation across both spot and derivatives markets. Related Reading: XRP Breakout Still Likely This April, Analyst Says $12+ In Play XRP On-Chain Activity Slows, But Price Remains Relatively Stable Amid XRP’s decline, a CryptoQuant analyst known as EgyHash has recently shared his analysis on the altcoin in a post titled, “XRP’s Market Paradox: With Ledger Activity Dipping 80%, Is a Rebound on the Horizon?” According to EgyHash, XRP’s on-chain and futures market data presents a mixed picture—declining activity but resilience in price. EgyHash noted that XRP Ledger activity has fallen sharply since December, with the percentage of active addresses down by 80%. Similar declines have been observed in the futures market, where open interest has dropped roughly 70% from its highs, and funding rates have occasionally turned negative. He added that the Estimated Leverage Ratio, which gauges average user leverage by comparing open interest to coin reserves, has also dropped significantly. Despite these indicators pointing to weakening momentum, the altcoin’s price has only declined about 35% from its peak. This is a milder correction compared to other assets such as Ethereum, which has fallen roughly 60% over the same period. Additionally, the altcoin’s Exchange Reserve has continued to decline, reaching levels last observed in July 2023. Lower reserves typically suggest that fewer tokens are available for immediate sale, a factor that can help support prices during market downturns. According to EgyHash, this trend, along with relatively stable pricing, could indicate growing long-term confidence in the asset. Institutional Developments Could Strengthen Market Sentiment While on-chain metrics remain a focus, institutional developments may also play a role in shaping XRP’s future trajectory. Hong Kong-based investment firm HashKey Capital recently announced the launch of the HashKey XRP Tracker Fund—the first XRP-focused investment vehicle in Asia. Backed by Ripple as the anchor investor, the fund is expected to transition into an exchange-traded fund (ETF) in the future. The initiative is designed to attract more institutional capital into the XRP ecosystem. HashKey Capital is launching Asia’s first XRP Tracker Fund—with @Ripple as an early investor. This marks a major step in expanding institutional access to XRP, the third-largest token by market cap. ???????? — HashKey Capital (@HashKey_Capital) April 18, 2025 HashKey Capital has also indicated that this collaboration with Ripple could lead to further projects, including tokenized investment products and decentralized finance (DeFi) solutions. Related Reading: XRP To $50? Technical Analyst Lays Out The Roadmap Vivien Wong, a partner at HashKey, emphasized the strategic value of integrating Ripple’s network with regulated investment infrastructure across Asia. Although the altcoin faces near-term pressure, long-term developments, including decreasing exchange reserves and rising institutional interest, may support its recovery as the broader market stabilizes. Featured image created with DALL-E, Chart from TradingView

Despite broader market interest, Bitcoin continues to hover near the $84,000 mark, showing limited upward momentum. At the time of writing, the asset is trading at $84,596, down 0.1% in the last 24 hours. This places BTC approximately 22% below its all-time high of over $109,000 set earlier this year. The price action follows a recovery from earlier lows but remains range-bound, suggesting hesitancy among investors as macroeconomic uncertainties persist. One of the emerging observations comes from CryptoQuant analyst Crypto Dan, who compared Bitcoin’s current behavior to past correction cycles. Related Reading: Bitcoin Sentiment Still Close To Extreme Fear—Green Sign For Recovery? Speculation Eases, Setting the Stage for Potential Recovery In Dan’s recent QuickTake post titled “Cryptocurrency Market, Similar to the 2024 Correction Period,” Dan assessed the speculative dynamics of the market through the lens of short-term holder activity. His analysis suggests that the recent cooling-off period might mirror patterns observed during last year’s correction phase. According to Dan, one reliable gauge of market overheating is the percentage of Bitcoin supply held for one week to one month. When this metric rises, it often signals speculative enthusiasm, which can precede corrections. During previous bullish phases, such increases in short-term holdings were followed by pullbacks, marking peaks in investor exuberance. In the current cycle, Dan notes that this metric has once again reached a region previously associated with market bottoms—the same yellow box (on the chart shared) that aligned with the 2024 correction low. Based on this, he posits that speculative excesses have largely subsided, opening the door to renewed price growth if macroeconomic conditions continue to improve. However, he also emphasized that further consolidation may still occur before a broader trend shift materializes. Crypto Market, Similar to the 2024 Correction “Given that this ratio has now reached the yellow-box region, which was the bottom of the 2024 correction period, it seems likely that the current market will follow a similar path as the 2024 correction.” – By @DanCoinInvestor pic.twitter.com/YGNZxQnUXj — CryptoQuant.com (@cryptoquant_com) April 18, 2025 Bitcoin Whale Activity Suggests Imminent Volatility Complementing this analysis, CryptoQuant contributor Mignolet pointed out a notable shift in coin movement behavior. In a separate post, he observed that around 170,000 BTC recently moved from the 3–6 month holding cohort. This group typically includes mid-term holders, and substantial activity from them has historically preceded increased price volatility. Related Reading: Bitcoin’s Futures Sentiment Weakens, Is The Ongoing Recovery Running Out of Steam? Mignolet illustrated his findings with data, noting that such movements have often signaled major price action, both upward and downward. Green box indicators on his chart marked rallies, while red boxes highlighted periods of decline. While the direction remains uncertain, he highlighted that the increased activity is an early warning sign that traders should be alert for a breakout or breakdown in the near future. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s recent price action has shown signs of stagnation, with the asset hovering around the $84,000 mark after rebounding above it earlier this week. As of the time of writing, BTC is trading at $84,449, down 0.7% in the past 24 hours. Despite recovering from previous corrections, the price has struggled to break through the current resistance level, signaling weak buying momentum and cautious sentiment among traders. Related Reading: Bitcoin At $1 Million? BPI Says One US Move Could Make It Happen Bitcoin STH-SOPR and Realized Price Indicate Capitulation The current phase of consolidation follows weeks of volatile swings driven by broader macroeconomic uncertainty and mixed signals across risk assets. While long-term holders remain steady, short-term participants in the market appear to be under pressure. Insights into the behavior of these short-term holders may offer valuable clues on the overall direction of the market and possible entry or exit points for investors. According to a recent analysis shared by CryptoQuant contributor CryptoMe, data from short-term holders (STHs) reveals key indicators that could help define Bitcoin’s current cycle. The first metric highlighted is the STH Spent Output Profit Ratio (STH-SOPR), which measures whether STHs are selling at a profit (above 1.0) or at a loss (below 1.0). Currently, this metric is below 1.0 based on a 14-day moving average, indicating that many STHs are offloading BTC at a loss—a signal often associated with capitulation phases. While this suggests bearish sentiment in the short term, CryptoMe points out that similar dips in STH-SOPR during past bull markets often presented accumulation opportunities. Historically, these periods of loss-taking by STHs have marked temporary bottoms, with prices rebounding shortly after as stronger hands absorb supply. Accumulation Opportunities and Strategy Outlook Another key metric shared is the STH Realized Price, currently around $92,000. This figure represents the average cost basis for coins held by short-term investors. When Bitcoin trades below this level, it can indicate undervaluation relative to recent buyer activity. In CryptoMe’s view, red zones (in the chart), periods when the spot price dips below the realized price, have often coincided with long-term accumulation zones during previous bullish phases. However, CryptoMe cautions that these indicators do not confirm a market bottom. Instead, they suggest that some investors are exiting positions under stress, creating potential buying opportunities for those with a long-term outlook. Related Reading: Bitcoin Faces Pressure As Report Flags Chinese Sell-Off Plans Given the broader macroeconomic pressures, the analyst maintains a hedged strategy: accumulating in spot markets while maintaining short positions in derivatives to manage downside risk. He concludes by stating that if macroeconomic conditions improve and liquidity returns to the market, Bitcoin could resume its upward trajectory. Until then, the data suggests patience and risk management may be prudent for market participants awaiting a clearer trend reversal. Featured image created with DALL-E, Chart from TradingView

Bitcoin appears to be entering a period of consolidation following a brief burst of upward momentum earlier this week. After reaching nearly $86,000, the cryptocurrency has retraced slightly and is trading around $84,650 at the time of writing. Despite the pullback, analysts continue to monitor on-chain data to assess whether renewed buying pressure could support a more sustained recovery. One of those analysts, CryptoQuant contributor Avocado Onchain, recently shared his insights in a post titled “Coinbase Premium Signals Signs of Recovery Amid Market Turmoil, While Korea Premium Index Remains Lagging.” Avocado noted that escalating trade tensions between the US and China have added volatility to global markets, including Bitcoin. As gold rallies in response to the risk-off environment, Bitcoin has managed to hold above a critical support level after undergoing a more than 30% correction. Related Reading: Bitcoin Sentiment Still Close To Extreme Fear—Green Sign For Recovery? Bitcoin Coinbase Premium Tightens While Korea Lags According to Avocado, the Coinbase Premium, which measures the price difference between Bitcoin on Coinbase and other major exchanges, has begun to show a constructive pattern. The analyst wrote: Since the beginning of the prolonged correction in March 2024, the Coinbase Premium has displayed a pattern of compressing highs and lows. This was followed by a sharp rise in buying activity on Coinbase, causing the premium to spike and Bitcoin’s price to surge. Currently, the premium is once again narrowing into a triangle pattern of lower highs and higher lows. Avocado interprets this as a potential precursor to renewed upside momentum in the market, similar to past cycles. “This pattern suggests that institutional and US-based demand is recovering, even as overall market conditions remain unstable,” he added. In contrast, the Korea Premium Index, which tracks the price spread between Korean exchanges and global averages, has shown a weaker profile. Avocado explained that this index trended lower throughout 2024 and only began to rise after Bitcoin had already started to rally, indicating delayed participation from Korean retail investors. This divergence between the two metrics highlights a shift in regional market leadership, with US investors currently taking a more proactive role. Highlighting the Role of Regional Indicators in Market Recovery In his analysis, Avocado concluded that although macroeconomic uncertainty continues to influence short-term movements, indicators like the Coinbase Premium are showing signs of healthy demand. He pointed to the ongoing formation of a support base near $84,000 as a positive development in market structure. Related Reading: Bitcoin Faces Pressure As Report Flags Chinese Sell-Off Plans “Although overall market conditions remain unstable, the upward trend in the Coinbase Premium’s lows indicates healthy demand,” he noted. “This bodes well for a potentially strong mid- to long-term recovery in Bitcoin’s price trajectory.” Featured image created with DALL-E, Chart from TradingView

Bitcoin’s upward momentum appears to be slowing down following a recovery phase earlier this week. After climbing close to $86,000, BTC has retraced slightly, hovering just above the $84,000 mark at the time of writing. The mild pullback comes after a 10% rise seen over the past seven days, which helped the asset recover from recent corrections triggered by macroeconomic pressures. While the price movement may suggest a healthy retracement or consolidation phase, market sentiment tells a more complex story. According to CryptoQuant contributor abramchart, futures sentiment has not mirrored the price surge, indicating caution among derivative traders. This divergence between price action and market sentiment could suggest growing uncertainty or a broader shift in investor behavior. Related Reading: Bitcoin At $1 Million? BPI Says One US Move Could Make It Happen Bitcoin Futures Sentiment Signals Cooling Conviction In his recent post titled “Weakening Futures Sentiment Signals Caution Amid Bitcoin Rally,” abramchart explained how sentiment indicators have not kept pace with BTC’s recent price movements. From November 2024 through early 2025, Bitcoin experienced strong gains, but the futures sentiment index peaked early and has since been declining steadily. Despite prices staying relatively high, the index now trends near the support zone around 0.4, suggesting increased bearish sentiment. The sentiment index’s resistance is historically around 0.8, with support near 0.2. According to abramchart, the index hovering closer to support may reflect ongoing profit-taking, growing macroeconomic uncertainty, or investor hesitation around regulatory developments. He also noted that Bitcoin’s average trading range between $70K and $80K suggests possible accumulation rather than strong directional conviction. If sentiment continues to linger at current levels, further consolidation or downside action may be expected in the absence of strong bullish catalysts. Weakening Futures Sentiment Signals “The chart shows that while Bitcoin reached significant highs, futures sentiment weakened, which can be a warning signal of potential retracement or at least a lack of strong bullish conviction.” – By @abramchart pic.twitter.com/zzSmUJsQ8Y — CryptoQuant.com (@cryptoquant_com) April 16, 2025 Binance Derivatives Show Bullish Signs Returning In contrast to the cautious sentiment observed in the broader futures market, activity on Binance derivatives is showing signs of renewed optimism. Another CryptoQuant analyst, Darkfost, highlighted a shift in the Binance taker buy/sell ratio—a metric used to measure which side, buyers or sellers, is dominating trading volume on the exchange’s derivatives platform. According to Darkfost, the 30-day exponential moving average of this ratio had remained below 1 for much of 2025, indicating sustained bearish sentiment. However, recent readings show a return to neutral territory, with bullish activity picking up. The ratio trending above 1 indicates buyer dominance, and current data suggests that long traders are becoming more active again. Related Reading: Bitcoin Bulls Positioning Aggressively On Binance, Data Shows Although this doesn’t guarantee a market reversal, it may signal short-term momentum returning in favor of bulls, especially on trading venues like Binance that play a key role in crypto price discovery. Featured image created with DALL-E, Chart from TradingView

Ethereum has mirrored Bitcoin’s recent recovery trend, posting a near 10% gain over the past week. The asset had previously experienced a sharp correction, but its latest rally saw prices climb toward the $1,600 mark. However, the momentum has shown signs of slowing in the past 24 hours, with ETH slipping by around 4% to trade at $1,574 as of the time of writing. This decline comes amid renewed global macroeconomic uncertainty and shifting on-chain activity that may influence short-term market dynamics. Related Reading: On The Brink: Ethereum Challenges Descending Channel, Targets $3,000 Price Historical Patterns and External Macro Impact One of the most recent signals comes from an uptick in Ethereum inflows to derivative exchanges. According to Amr Taha, a contributor to the CryptoQuant QuickTake platform, more than 77,000 ETH were transferred to derivative exchanges on April 16—the largest single-day inflow in both March and April. This spike follows similar inflow events on March 26 and April 3, both of which preceded notable price declines for Ethereum. These inflows suggest a possible rise in hedging activity or short positioning by traders preparing for additional volatility. Taha’s analysis emphasizes that these inflows are not occurring in isolation. On-chain behavior reveals a pattern of significant ETH movements to derivatives markets followed by price drops. On March 26, an inflow of approximately 65,000 ETH was followed by a sharp decline in price. A similar scenario played out on April 3, leading to further weakness. The April 16 inflow of 77,000 ETH now raises questions about whether Ethereum may be facing another pullback, especially as it hovers near multi-month lows. This market behavior is also being influenced by geopolitical tensions. Recent trade actions from China—which include retaliatory tariffs on US agricultural and technological goods—have contributed to a broader risk-off sentiment in financial markets. Taha notes that such macroeconomic shifts often trigger outflows from volatile assets like cryptocurrencies, as investors seek safer alternatives such as U.S. Treasuries or fiat currencies. Institutional Strategy and Short-Term Outlook The consistency of these large-scale inflows to derivatives platforms points toward institutional or large-holder strategies, where ETH is likely being moved to hedge portfolios or open short positions. While this doesn’t necessarily confirm a downward trend, it does reflect heightened caution among more experienced market participants. The link between macro factors and on-chain behavior highlights how external shocks can influence market sentiment and trading patterns. Related Reading: Ethereum Metrics Reveal Critical Support Level – Can Buyers Step In? Although Ethereum has shown signs of price recovery, the recent spike in derivatives activity and rising geopolitical tension add complexity to its short-term outlook. Overall, it is considerable to monitor on-chain flows closely, alongside global economic indicators, to better understand where ETH might head next. Continued pressure in derivatives markets could act as a signal of sustained market uncertainty, even as some signs of accumulation emerge. Featured image created with DALL-E, Chart from TradingView

On the higher time frame, Bitcoin appears to still be in a bearish market with the asset recording a 21.7% decrease away from its all-time high (ATH) above $109,000 recorded in January. However, when slightly zoomed in, it is seen that the asset is seeing a gradual and steady rebound surging 6.8% in the past week to bring its asset closer to the psychological $90,000 mark with a current trading price hovering above $85,000. The latest analysis from CryptoQuant analyst Crypto Dan offers context for this cautious optimism. In a post titled “Why does this cycle feel so boring?”, Dan explained that, unlike previous bull cycles that featured fast-paced rallies and surging interest from short-term participants, the current cycle appears subdued. Related Reading: Bitcoin Lags Gold As Wall Street Doubts Persist, Claims Expert Why The Current Cycle Is Different One major indicator supporting Dan’s observation is the notably lower percentage of Bitcoin held for short durations (1 week to 1 month), reflecting minimal engagement from newer market entrants. Dan attributes this behavioral shift to two primary structural changes. First is the macroeconomic environment. In contrast to the aggressive liquidity injections and near-zero interest rates of the 2020–2021 period, the current market faces tight liquidity and high interest rates, reducing the pace and scale of capital inflows. Second is the transition in market leadership from retail traders to institutional investors. The approval and growing adoption of Bitcoin exchange-traded funds (ETFs) have transformed the nature of capital movement into the space, making price movements more measured and incremental. As a result, the market’s development is more cautious, lacking the euphoria typically seen in previous cycles. Dan emphasized that while some on-chain metrics may suggest a cycle top, the current structure could instead be pointing to a more extended and gradual market evolution. He suggested that long-term patience, rather than short-term speculation, may yield better outcomes under these conditions, noting: In times like this, what matters most isn’t chasing quick pumps— It’s understanding the slower structure and having the patience to stay with it. Bitcoin On-Chain Metrics Signal Strength Despite Unusual Cycle Supporting this longer-term perspective, another CryptoQuant analyst elcryptotavo noted that a key on-chain metric remains strong. According to his analysis, over 70% of the Bitcoin supply remains in profit—a level historically associated with price stability. This metric tracks the percentage of circulating BTC with a cost basis below the current market price. A supply-in-profit ratio that remains elevated, particularly above the 70% mark, has often served as a foundation for further upward momentum. Elcryptotavo added that the next target is to push this metric back toward the 80% level, which would reinforce bullish momentum and possibly sustain the current upward trend. Related Reading: Bitcoin Price Forms This Bullish Pennant On Daily Chart That Could Trigger Rise To $137,000 If this threshold is achieved alongside improving macro conditions and continued ETF inflows, Bitcoin could see renewed strength even in the absence of speculative enthusiasm. Featured image created with DALL-E, Chart from TradingView

Bitcoin has experienced a notable rebound over the past week, following a brief period of downside pressure earlier this month. After dropping below $80,000 amid the tariff turmoil, the asset has regained its losses and is now trading above $85,000. This recovery marks a nearly 10% surge over the last seven days and comes as investors reassess macroeconomic cues and on-chain signals. Related Reading: Bitcoin Price Forecast: What Experts Anticipate Following The Jump Toward $85,000 Bitcoin On-Chain Trends Indicate Continued Uptrend The market’s resilience appears to be underpinned by several important metrics. According to a recent post by CryptoQuant analyst BorisVest, various on-chain indicators continue to suggest that Bitcoin remains undervalued in the current cycle. The analysis points to declining exchange reserves, a stablecoin supply ratio that suggests available liquidity for new purchases, and normalized funding rates that may indicate a reduced risk of overheated market conditions. One of the striking observations in BorisVest’s analysis is the ongoing reduction in exchange-held Bitcoin reserves, which have now returned to levels not seen since 2018. The total number of BTC on exchanges stands at around 2.43 million, significantly down from the 3.4 million observed during the 2021 bull market peak. This reduction implies a shift toward long-term holding behavior among investors, limiting available supply for immediate sale and potentially contributing to upward price pressure. In addition, the Stablecoin Supply Ratio (SSR) currently stands at 14.3. The SSR is a metric used to gauge the purchasing power available in the market via stablecoins. A lower SSR indicates higher purchasing power and potential for further buying activity. Since the SSR has not reached the elevated levels seen during the last cycle’s peak, the data implies that capital remains on the sidelines and could be deployed as prices stabilize or rise. Normalized Funding Rates and Bullish Implications Another significant factor highlighted in the report is the normalization of funding rates. During Bitcoin’s recent all-time highs, funding rates spiked as long positions accumulated rapidly, suggesting an overheated market and increased short-term risk. However, since the correction, these rates have returned to neutral territory, now hovering between 0.00% and 0.01%. This return to balance is interpreted as a reset of market sentiment, reducing the likelihood of immediate downside caused by over-leveraged longs. The report concludes that the combination of declining exchange reserves, a stable SSR, and subdued funding rates supports a constructive outlook for Bitcoin in the near term. Related Reading: Strategy’s Bitcoin Portfolio Grows To Nearly 600,000 BTC After Recent Purchase While broader macroeconomic factors, such as the global tariff environment and monetary policy, will continue to influence sentiment, current on-chain dynamics suggest that investor confidence remains intact. The focus now shifts to whether these conditions will translate into sustained upward momentum or if a period of consolidation will take hold before the next major move. Featured image created with DALL-E, Chart from TradingView

Bitcoin has shown signs of stabilization following its earlier correction this month, which saw the asset fall to as low as $74,000. Over the past week, Bitcoin has rebounded strongly, gaining nearly 10%, and now trades above $84,000. This upward movement has reignited optimism among investors, though some analysts remain cautious about calling this a definitive trend reversal. Related Reading: Bitcoin’s Last Drawdown To $74,000 A ‘Healthy Correction’ — Analyst Says Bull Cycle Is Still On Apparent Demand Shows Recovery, But Trend Reversal Uncertain According to recent on-chain data, the current recovery in BTC may be linked to improving demand indicators. However, it is suggested that the broader market structure still needs to confirm whether this bounce reflects a sustainable rally or is merely a temporary pause in the ongoing correction. CryptoQuant contributor Kripto Mevsimi particularly drew attention to Bitcoin’s Apparent Demand metric, specifically the 30-day sum, which has started to rebound from negative territory. This trend is being observed as a potential sign of changing market dynamics. However, Mevsimi warns against assuming this is the start of a new bullish cycle, drawing parallels to Bitcoin’s behavior during the latter part of the 2021 cycle. During that period, demand remained suppressed for an extended timeframe, even as prices temporarily recovered. Only after a long consolidation phase did the market experience a genuine structural shift. Mevsimi highlights that although momentum may be improving, more time and confirmation are necessary before a macro-level trend reversal can be confirmed. Bitcoin Short-Term Holder Selling Pressure Declines on Binance Another market signal worth watching comes from Binance, one of the largest crypto exchanges by trading volume. CryptoQuant analyst Darkfost reports that inflows of Bitcoin from short-term holders (STHs) to Binance have been steadily decreasing, suggesting a decline in immediate selling pressure. The data indicates that average realized prices for STHs currently hover around $92,800, meaning many recent sellers have exited at a loss. Darkfost notes that inflows from STHs dropped from approximately 17,000 BTC in November to around 9,000 BTC more recently. This downtrend in selling could provide some support for Bitcoin’s current price levels. Related Reading: Bitcoin Lags Gold As Wall Street Doubts Persist, Claims Expert Still, the analyst emphasizes the need for continued monitoring to determine if this reduction in selling pressure persists. The easing of short-term holder activity could reduce overhead resistance and contribute to market stability, but confirmation of accumulation or a broader bullish phase remains elusive. STH selling pressure declining on Binance???? Tracking $BTC inflows on Binance is a useful way to visualize potential selling pressure, as the platform handles significant trading volumes. Short Term Holders have been under considerable stress recently, with many even ending up… pic.twitter.com/lwOe45H7L3 — Darkfost (@Darkfost_Coc) April 13, 2025 Featured image created with DALL-E, Chart from TradingView

Following Bitcoin’s correction dropping to as low as $74,000 earlier this month amid the recent global tariff war, the asset has now begun to see steady recovery with its price hovering above $85,000 after a 10% surge in the past week as President Trump’s 90-day tariff pause affecting all countries except China. The announcement helped ease market concerns, contributing to renewed momentum in both equity and digital asset markets. Related Reading: Bitcoin Holds Above 365-Day Moving Average, But Market Sentiment Remains Subdued Bitcoin Whales Show Restraint as Market Climbs As Bitcoin finds its footing in upward momentum, a new analysis from CryptoQuant analyst Darkfost suggests that large holders on Binance—one of the most active crypto exchanges—are responding to macroeconomic uncertainty with a cautious, but notably non-reactive, approach. The insights were detailed in a post titled “How Are Binance Whales Reacting to Market Uncertainty?” which examined key on-chain metrics. According to Darkfost, two primary indicators reveal the evolving behavior of Binance whales. The first, the Exchange Whale Ratio (EWR), compares the top 10 inflows to total inflows on Binance to gauge whale involvement. A rising 365-day moving average (DMA) for the EWR reflects a growing concentration of inflows from large holders over time, indicating their stronger influence during long-term trends. However, a recent decline in the 30DMA points to reduced short-term activity. This suggests that whales may be taking a step back from active trading, neither selling aggressively nor showing signs of panic. The second metric, Whale to Exchange Flow, analyzes the value of whale inflows to Binance over a 30-day period. Here too, the trend is down—falling over $3 billion, mirroring similar drawdowns observed during past corrections in 2024. Combined, these signals suggest that Binance whales are opting to hold their positions rather than sell into current market conditions, potentially signaling confidence in longer-term prospects despite ongoing uncertainty. Buying Strength Persists Despite Uncertain Outlook In a related CryptoQuant post, analyst Mignolet highlighted a continued pattern of buying strength on Binance. According to the analyst, the market buy ratio—an indicator tracking the volume of market buy orders—has not only remained intact but has recently surpassed previous highs. This trend highlights persistent demand despite recent market corrections and volatility. The recurring nature of this pattern suggests that there is underlying buyer strength even as external macroeconomic forces, such as trade policies and regulatory shifts, continue to influence sentiment. Related Reading: Bitcoin Price Rises Steadily—But Can the Rally Hold This Time?? Historically, a sustained increase in the buy ratio has preceded medium-term rallies, although confirmation of a new trend will require follow-through in both price action and volume metrics. Featured image created with DALL-E, Chart from TradingView

Bitcoin has begun showing early signs of recovery following a recent correction that saw the asset fall to $74,000 earlier this month. At the time of writing, Bitcoin trades above $82,000, inching closer to the $85,000 range with its market capitalization now sitting above $1.6 trillion. A recent market report from CryptoQuant outlines several contributing factors to this rebound. According to the firm, crypto price volatility remained high throughout the week, fueled by trade tensions and macroeconomic developments. Prices dipped sharply earlier in the week after retaliatory tariffs were introduced by China and the European Union. However, they began recovering on April 9 following the tariff suspension. The temporary policy reduced tariffs to 10% for most countries, while China remained subject to a 125% rate. Related Reading: Is The Bitcoin Bottom In After Trump’s Tariff Pause? Here’s What To Expect Bitcoin Technical Support and Market Sentiment CryptoQuant’s report also emphasized the importance of Bitcoin’s 365-day moving average (MA), which currently stands at $76,100. This level has previously served as a key technical support in historical market cycles, including in August 2024, July 2021, and December 2021. The recent bounce from this level is being closely monitored as a potential base for a renewed uptrend. A breach below this moving average, however, would increase the likelihood of Bitcoin entering a bearish phase. Despite this positive movement, investor sentiment remains subdued. CryptoQuant noted in the report: Nevertheless, although market sentiment has improved after the tariff pause, Bitcoin remains in one of its least bullish phases since November 2022, according to CryptoQuant’s Bull Score Index. The Index is now at 10—its lowest reading since that time—signaling continued weak investor sentiment and a low probability of a sustained rally in the near term. According to the firm, a longer-term rally is unlikely unless the score climbs above 40.  Furthermore, with BTC’s price currently on the rise, CryptoQuant mentioned that the asset could find resistance at $84,000 and $96,000—zones historically linked to the Trader Realized Price, which has served as both support and resistance in different market phases. Altcoin Accumulation Signal Emerges In a separate commentary, CryptoQuant analyst Darkfost presented data that may indicate favorable conditions for altcoin accumulation. The analyst observed that the 30-day moving average of trading volume for altcoins paired with stablecoins has dropped below its annual average. This market behavior, according to Darkfost, has previously marked buying zones, with the last occurrence seen in September 2023. The analysis suggests that while Bitcoin’s near-term outlook remains uncertain, altcoins may be entering a phase conducive to dollar-cost averaging (DCA) strategies. Related Reading: Ethereum Long-Term Holders Show Signs Of Capitulation – Prime Accumulation Zone? Darkfost cautioned that these windows can last for weeks or months but have historically aligned with the early stages of altcoin market recoveries. If the macroeconomic environment stabilizes and capital flows return, these conditions could lead to broader participation across the crypto sector. Featured image created with DALL-E, Chart from TradingView

Bitcoin has seen modest upward momentum in the past 24 hours, climbing back above $83,000 following a recent correction period. The move comes shortly after US President Donald Trump announced a temporary 90-day pause on tariffs, offering a degree of relief to global financial markets. Though the asset remains down approximately 24% from its all-time high of over $109,000 set in January, its recent decline has now been trimmed to single digits on a weekly scale. This recovery coincides with increased interest from large-scale Bitcoin holders. Related Reading: Analyst Compares Trump’s Market Impact to Obama Era as Bitcoin Sees Momentum $3.6 Billion Inflows Suggest Renewed Institutional Activity On April 9, accumulation addresses—wallets associated with long-term investors that rarely distribute funds—received a notable 48,575 BTC, according to on-chain data shared by CryptoQuant analyst Burak Kesmeci. This inflow, the largest since February 2022, totaled approximately $3.6 billion in value. The timing, according to Kesmeci, is significant: it mirrors a similar event from the past, both in scale and macroeconomic backdrop. Kesmeci emphasized that these accumulation wallets typically increase holdings during market pullbacks. The April 9 transaction occurred when Bitcoin traded around $76,000, a level tested during last week’s sell-off triggered by concerns over renewed trade tensions. The volume and pattern of inflows suggest a recurring strategy among institutional or long-term market participants whereby they capitalize on corrections and accumulate during uncertainty. Interestingly, the total value of the inflows—$3.6 billion—matches that of February 1, 2022, another period marked by broader macroeconomic instability. While this could be coincidental, Kesmeci noted that the repetition of such behavior in response to macro-driven price declines may indicate a deeper behavioral trend among accumulation address holders. Massive $3.6 Billion Bitcoin Inflow to Accumulation Addresses! “Bitcoin accumulation addresses received 48,575 BTC — the largest single-day inflow since February 1, 2022. When accumulation addresses move this aggressively, it’s worth paying attention.” – By @burak_kesmeci pic.twitter.com/MVIFUcXKWz — CryptoQuant.com (@cryptoquant_com) April 10, 2025 Bitcoin Whales Increase Reserves Despite Weak Network Activity Adding to the accumulation narrative, another CryptoQuant analyst known as caueconomy noted that whale wallets—addresses holding large BTC balances—have resumed consistent buying since March. According to caueconomy, more than 100,000 BTC has been added to whale reserves in that timeframe. This comes despite the subdued on-chain activity and a visible pullback in retail participation. The distinction between investor profiles has become clearer in recent months. While smaller investors appear to be withdrawing amid heightened market uncertainty, large holders are taking advantage of lower prices to strengthen their positions. Related Reading: Bitcoin Battles Tariff Turmoil: Can the 2-Year Realized Price Hold the Line? The strategy, according to caueconomy, aims to reduce average acquisition costs and position for long-term gains. This divergence in behavior may not translate to immediate price shifts but could set the stage for a more pronounced upward move once broader sentiment recovers. Featured image created with DALL-E, Chart from TradingView

Bitcoin is currently trading just above $80,000, following a brief rally to $83,000 yesterday that sparked renewed investor optimism. Despite the 4.1% gain over the past day, the asset remains more than 25% below its all-time high of over $109,000 set in January. One of the latest developments influencing the current sentiment came from US President Donald Trump, who posted, “This is a great time to buy,” shortly before a 90-day suspension on new tariffs was announced. The pause led to a sharp reaction across financial markets. Bitcoin jumped over 10%, while the S&P 500 and NASDAQ saw daily gains exceeding 11% and 14%, respectively. According to CryptoQuant analyst Maartunn, this development mirrors a similar episode in 2009 when then-President Barack Obama encouraged long-term stock investments amid a market downturn. That historical parallel saw the S&P 500 begin a multi-year rally, raising the question of whether Trump’s second term might trigger a similar bullish cycle. Related Reading: Bitcoin Ownership Patterns Shift Amid Price Correction Historic Parallels and Their Potential Impact on Bitcoin Maartunn emphasized the potential for policy-driven sentiment shifts to play a role in Bitcoin’s future price trajectory. Drawing comparisons to the market response following Obama’s 2009 comments, the analyst suggests that investor psychology, coupled with fiscal strategy, could significantly affect market direction. The implications are not just isolated to equities but also extend to crypto markets, as demonstrated by Bitcoin’s strong correlation with traditional financial indices during major policy shifts. While no trajectory is guaranteed, the market’s reaction to political cues highlights Bitcoin’s growing entrenchment in broader macroeconomic trends. Maartunn wrote: Could the remainder of Trump’s second term mirror Obama’s first, when the market surged roughly 75% over four years? The parallels are there—but nothing is guaranteed. This chart will be one to watch closely in the coming months. Hashrate Hits Record as Fundamentals Strengthen Separately, CryptoQuant analyst Yonsei Dent pointed out an important underlying development. Despite Bitcoin’s decline from its $109K peak to around $80K, both the network hashrate and mining difficulty have reached all-time highs. These metrics suggest that Bitcoin’s network security and miner confidence remain strong, even during price drawdowns. While increased mining difficulty implies greater costs for miners, it also reflects heightened participation and belief in Bitcoin’s long-term value. The network’s resilience in the face of price volatility may offer a stabilizing factor as market sentiment continues to fluctuate. Dent cited CryptoQuant CEO Ki Young Ju who noted that Bitcoin’s hashrate could serve as a proxy for its intrinsic value. He posited that, based on current mining trends, Bitcoin’s potential market cap could reach as high as $5 trillion. Notably, with the asset currently holding a $1.6 trillion valuation, Bitcoin’s upside remains considerable should fundamentals continue to align with investor confidence. Featured image created with DALL-E, Chart from TradingView

Bitcoin and other crypto assets faced headwinds in the first quarter of 2025 as global economic tensions intensified. After a strong start to the year driven by optimism over President Donald Trump’s return and supportive macroeconomic expectations, the crypto market struggled with a sharp drop in trading volumes. According to a new report by Kaiko, the tariff measures introduced by the Trump administration contributed to increased volatility and risk-off behavior among market participants. Related Reading: Is The Bitcoin Bottom In After Trump’s Tariff Pause? Here’s What To Expect Crypto Q1 Volume and Liquidity Performance Bitcoin, which had rallied to new highs in January, has now fallen by over 25% from its peak, ending the quarter down approximately 12%. Ethereum and the top altcoins also saw declines, with AI and memecoins posting average losses above 50%. Weekly volumes for BTC, ETH, and other major tokens averaged $266 billion, down 30% from levels seen in late 2024. Kaiko attributed much of the decline to offshore exchange activity falling and traders pulling back due to rapid market swings and uncertainty. U.S.-based exchanges maintained strong market depth despite broader selloffs, buffering the impact on Bitcoin’s liquidity. Platforms like Coinbase, Kraken, and CEX.IO collectively comprised 60% of BTC’s market depth in Q1. This allowed BTC to outperform many altcoins, which suffered from both reduced demand and thinner liquidity. Kaiko noted that this environment favored larger-cap assets and further highlighted the resilience of BTC compared to other riskier assets in the crypto space. The report noted: Altcoin volatility surged in early 2025, reaching multi-year or all-time highs for certain tokens, notably Cardano’s ADA. Bitcoin’s volatility also rose, from 34% in February to 51% in March, though it stayed below the peaks observed during last August’s carry trade unwinding. The growing volatility gap between Bitcoin and altcoins may discourage risk-averse traders from entering the market in the near future. The Path Ahead: Outlook For Q2 Looking forward, Kaiko analysts believe the second quarter could offer renewed opportunities. The White House’s recent decision to delay tariff implementation by 90 days has already sparked a short-term rally, suggesting sensitivity to macroeconomic developments remains high. More importantly, structural tailwinds are building: the expansion of the stablecoin market, pending ETF approvals for altcoins, and the appointment of pro-crypto SEC Chair Paul Atkins could all support a recovery In addition, the stablecoin sector, led by USDT and USDC, has grown 33% since late 2024, now exceeding $230 billion in supply. Historical data from Kaiko suggests that expansions in stablecoin supply often precede broader crypto rallies. Related Reading: Bitcoin Bulls Crushed: $500 Million Liquidation Shakes Market Confidence With over 40 crypto-related ETF applications pending review and two stablecoin bills gaining momentum in Congress, the potential for renewed institutional participation is rising. Kaiko’s report concluded that if market volatility subsides and regulatory clarity improves, Q2 may mark a shift in sentiment. While risks remain from geopolitical tensions and economic policies, the combination of macro catalysts and maturing infrastructure may pave the way for renewed growth, particularly for Bitcoin. Featured image created with DALL-E, Chart from TradingView

Bitcoin has felt the impact of the ongoing global tariff tensions, with little to no upward momentum. The asset appears to have paused its bull run, dampening investor expectations for a near-term recovery. Currently trading just above $77,000, BTC has declined nearly 30% from its all-time high, including a 1.6% drop in the last 24 hours. Amid this, a recent insight from CryptoQuant contributor Onchained suggests that Bitcoin is nearing a significant threshold that could determine the asset’s next major direction. Related Reading: Crypto Analyst: 33% Chance Bitcoin Already Topped—Brace For $52,000 Bitcoin Realized Price Levels in Focus Onchained’s latest analysis points to the convergence of Bitcoin’s spot price with its 2-Year Realized Price. This metric, derived from on-chain data, calculates the average acquisition cost of coins moved on the blockchain within the past two years. This price band often serves as a meaningful support level, particularly in transition phases between bear and bull markets. Historically, Bitcoin maintaining price action above the 2-year Realized Price has signaled underlying strength among long-term holders. Onchained noted that BTC has stayed above this line since October 2023, a sign of sustained investor confidence. If Bitcoin continues to hold this level, it may indicate the establishment of a new value floor, potentially setting the stage for renewed buying pressure. The analysis adds that a bounce off this support zone could be interpreted as an influx of capital from investors seeing this price level as a strategic accumulation point. However, a breakdown below the 2-year Realized Price could trigger a deeper correction or a longer period of consolidation. Related Reading: Short-Term Holders Under Pressure as Bitcoin Slides—Capitulation Coming? Long Liquidations Amplify Market Volatility In a separate update, CryptoQuant analyst Darkfost highlighted a significant event that shook the derivatives market. On April 6, the largest Bitcoin long liquidation event of the current bull cycle occurred, wiping out roughly 7,500 BTC in long positions. The liquidation marked the highest daily volume of forced long position closures since the bull market began. According to Darkfost, this event was largely triggered by rising volatility and uncertainty stemming from US economic policy concerns. The biggest Bitcoin long liquidation event of this bull cycle “On April 6, approximately 7,500 Bitcoin in long positions were liquidated, marking the biggest single-day long wipeout of the entire bull run so far.” – By @Darkfost_Coc Read more ⤵️https://t.co/eqW2JE8TWD pic.twitter.com/IEthwRDRVz — CryptoQuant.com (@cryptoquant_com) April 9, 2025 In particular, fears around new tariffs under President Trump’s administration have added pressure on global markets, including crypto. The analyst emphasized that such liquidation events serve as reminders of the risks associated with high-leverage positions during uncertain macroeconomic conditions. Darkfost wrote: This is a clear reminder that we need to stay cautious during periods of rising volatility like today. This is the time to care and preserve your capital. Featured image created with DALL-E, Chart from TradingView

Bitcoin is currently trading at $76,899, marking a 3.7% decline in the past 24 hours and a 29.4% drop from its all-time high above $109,000 recorded in January. After falling below $80,000 on Sunday, the digital asset has struggled to reclaim upward momentum, reflecting persistent selling pressure in the broader crypto market. While price action continues to dominate headlines, on-chain data reveals deeper shifts in market dynamics. A recent analysis by CryptoQuant contributor Onchained highlights a notable transition in Bitcoin ownership patterns.  Related Reading: Next Bitcoin Peak Delayed To Late 2026, Business Cycle Expert Warns Bitcoin Short-Term Losses and Long-Term Accumulation In the post titled “Short-Term Capitulation Meets Long-Term Conviction: A Structural Shift in Bitcoin Ownership,” the analyst identified structural changes between short-term and long-term holders, providing insights into the asset’s underlying market behavior. According to the insight, Bitcoin has seen a ~15% drawdown from $88,000 to $74,400 over the past week. On April 7, Short-Term Holders (STH) realized a significant $10 billion drop in their realized cap—a metric reflecting the price at which coins were last moved—marking their largest single-day loss of the cycle. This decline was met with an almost equivalent $9.7 billion increase in Long-Term Holders’ (LTH) realized cap, suggesting a substantial transfer of coins from recent buyers to more experienced holders. By April 8, realized losses from STHs declined to $693 million, indicating a possible exhaustion of panic selling. In contrast, LTHs continued increasing their cost basis by an additional $1.13 billion, reflecting ongoing accumulation despite minimal price recovery. Onchained interprets this as a typical sign of supply transitioning from weaker hands to those with higher conviction, which has historically occurred near market bottoms or early recovery stages. The analyst noted: “This is not merely a coincidence: this is the market transferring coins from weak to strong hands.” Adding: Long-term investors are stepping in with conviction: buying weakness and absorbing supply. – This behavior has historically marked the late stages of corrections or the early phase of recovery. Potential Impact on Market Structure This divergence between STH and LTH behavior may hold broader implications for Bitcoin’s market structure. As STHs reduce their holdings, potential short-term sell pressure and overhead resistance may decline. At the same time, rising accumulation by LTHs suggests confidence in Bitcoin’s long-term prospects, even amid current volatility. Historically, similar patterns have preceded stabilization or trend reversals. A shrinking supply in the hands of reactive traders coupled with consistent buying by long-term participants can form the foundation for renewed price support. Whether this shift signals the end of the current correction or an early stage of recovery remains to be confirmed, but on-chain trends continue to suggest meaningful repositioning within the Bitcoin market. Featured image created with DALL-E, Chart from TradingView

Bitcoin is continuing to face downward pressure in the market, with the cryptocurrency falling below $80,000 on Sunday for the first time since last year. Despite a 4.1% recovery in the past 24 hours bringing it back to $79,825, Bitcoin remains down 26% from its all-time high of over $109,000 recorded in January 2025. Market sentiment remains mixed, as investors weigh on-chain data, short-term volatility, and the broader macroeconomic environment. Related Reading: Short-Term Holders Under Pressure as Bitcoin Slides—Capitulation Coming? Bitcoin Open Interest Reflects Cautious Sentiment Bitcoin’s open interest metric has revealed cautious behavior among leveraged traders. CryptoQuant analyst Maartunn reported a 17.8% drop in Bitcoin open interest over the past week. This decline represents a significant reduction in the number of outstanding derivative contracts and may reflect investor hesitation following recent price volatility. Historically, such sharp declines in open interest have occurred before major market rebounds, as speculative leverage is flushed out of the system. With leverage reset, market participants may begin re-entering positions, especially if prices find a strong support level or if further whale accumulation signals renewed bullish momentum. Bitcoin Open Interest dropped -17.8% ???? This is over the last 7 days – shedding billions in leverage. Over the last 2 years, these flush-outs often set the stage for major buy opportunity’s. pic.twitter.com/wXIxSXr7Nz — Maartunn (@JA_Maartun) April 8, 2025 Accumulation Trends Signal Long-Term Confidence Meanwhile, there has been a notable trend in the behavior of long-term holders and whales. According to on-chain data shared by CryptoQuant contributor Onchained, a substantial number of accumulating addresses have continued to buy Bitcoin aggressively even during the asset’s climb to new highs. This cohort’s realized capitalization has surged from around $20 billion in 2023 to $160 billion in 2025, with BTC supply held by these entities increasing from approximately 800,000 to 3 million BTC. This trend suggests that rather than scaling back during price increases, large holders significantly accelerated their buying efforts, indicating a high level of conviction. The analyst wrote: This indicates the average acquisition price per bitcoin for accumulating addresses rose substantially, yet accumulation accelerated rather than slowed. A strong evidence of high-conviction buying regardless of price increases. Onchained also noted a widening gap between retail and whale realized capitalization, pointing to the growing role of high-capital investors in market dynamics. These whale wallets, typically less reactive to short-term market swings, are continuing to remove BTC from circulation, a pattern that may contribute to future supply constraints. Onchained’s analysis further highlights three key implications: a growing supply-side pressure as more BTC enters inactive wallets, strong conviction from holders through all market phases, and the potential for future supply shocks as long-term accumulation continues. Featured image created with Dall-E, Chart from TradingView

Ethereum (ETH) has begun to show signs of recovery following a sharp decline earlier this week that brought its price down to $1,471. As of today, the asset is trading at around $1,570, representing a 4.8% increase over the past 24 hours. Ethereum remains under broader market pressure despite the rebound as analysts assess its short-term and long-term positioning. One of the focal points of current market analysis centers around Ethereum’s Realized Price metric. This on-chain indicator recalculates the network’s market value based on the last price each ETH coin moved, providing insight into the average acquisition cost across the blockchain. When ETH trades below this realized price, it often reflects a bearish sentiment and increased selling pressure as holders find themselves underwater. Related Reading: Here’s Where Ethereum’s Last Line Of Defense Lies, According To On-Chain Data ETH Falls Below Realized Price Level According to on-chain analyst and CryptoQuant contributor theKriptolik, Ethereum’s recent dip has taken it below its Realized Price. This development carries important market implications. The analyst noted: Each ETH is evaluated based on the price it was last transferred at. When you average out all those prices, you get the Realized Price. This gives us a much more “realistic” sense of what the average investor paid for their ETH — and it often paints a very different picture from the current market price. Realized Price frequently acts as a psychological support or resistance level. Trading above it typically indicates investor confidence and support; trading below it suggests mounting resistance. The analyst outlined three core takeaways: First, a drop below Realized Price tends to coincide with an increase in loss-driven selling as investors react to being in the red. Related Reading: Ethereum MVRV Drops To Lowest Since December 2022: Bottom Signal? Second, such events are often associated with the capitulation phase, where confidence erodes and widespread selling occurs. Lastly, historical data shows that ETH falling below this metric has often aligned with market bottoms and preceded subsequent long-term recoveries. theKriptolik wrote Past data shows that whenever ETH dips below its realized price, it’s often coincided with long-term bottom zones. These periods have consistently been followed by strong recoveries — making them strategic accumulation points for long-term investors. You can see this clearly reflected in the chart below. What This Means for Ethereum Investors While the Realized Price breach signals short-term volatility, it may also represent a potential accumulation zone. Past cycles have seen Ethereum rebound significantly after such movements. Ethereum Price Has Dropped Below Its Realized Price “Past data shows that whenever ETH dips below its realized price, it often coincides with long-term bottom zones.” – By @theKriptolik pic.twitter.com/cVRgufkqlc — CryptoQuant.com (@cryptoquant_com) April 8, 2025 Still, ongoing market conditions and sentiment will be critical in determining whether this marks a durable bottom or a temporary pause in a broader downtrend. Featured image created with DALL-E, Chart from TradingView

Bitcoin faced a notable sell pressure earlier today, with its price trading as low as $74,604. However, at the time of writing, the asset is seeing a quiet rebound with prices now hovering back above $79,000. Regardless of this slight uptick, the asset is still down by 3.1% in the past day and nearly 30% from its peak above $109,000 registered in January. According to CryptoQuant contributor IT Tech, a significant shift may be underway. Related Reading: Understanding Bitcoin Struggles: Why Realized Cap Indicates A Bear Market Old Coins Starts To Move: Sell Off ahead? In a recent analysis titled “Massive spike in Exchange Inflow CDD signals old coins are waking up,” IT Tech noted a considerable surge in the Exchange Inflow Coin Days Destroyed (CDD) metric. CDD measures the movement of older coins—those that have not changed hands for a long time. When coins with high coin days are moved, it often indicates that long-term holders are transferring their assets to exchanges, potentially with the intent to sell. Historically, spikes in Exchange Inflow CDD have preceded large price corrections. IT Tech highlighted that the latest surge in this metric coincided with Bitcoin’s drop from $82,000 to $76,000, suggesting that some veteran holders may be preparing to liquidate their positions. Such behavior tends to exert additional sell pressure on the market, particularly during already volatile conditions. These movements could indicate an inflection point, with older investors potentially looking to secure profits amid broader market uncertainty. If this trend continues, it could serve as a bearish signal, as coins dormant for months or years re-enter circulation. Bitcoin Short-Term Metrics Indicate Possible Cooling Trend Meanwhile, in a separate analysis, another CryptoQuant analyst BilalHuseynov offered insights into short-term holder behavior through the lens of realized price data. In a post titled “Bitcoin: Realized Price – UTXO Age Bands,” the analyst examined how the realized prices for coins held by short-term investors—specifically those held for one week to one month and one to three months—can reveal the health of the ongoing market trend. These UTXO age bands help determine whether recent buyers are holding in profit or loss. In bullish phases, these bands trend upwards, signaling accumulation. However, at market tops, the lines tend to flatten or decline, indicating distribution by short-term participants. According to Huseynov, this is what the current data reflects. The 1-month to 3-month realized price is curving downward, echoing patterns seen at previous peaks in April and November 2021, and more recently in March 2025. Related Reading: Bitcoin’s Bullish Fate Hinges On These 2 Resistance Zones – Details If this trend persists, it could mean that newer holders are facing losses and may soon capitulate, possibly leading to further downside. Conversely, during past bear cycles, these bands have often marked bottom zones where prices found support and reversed. Featured image created with DALL-E, Chart from TradingView

Bitcoin has not been immune to the ongoing global tariff dispute, which has rippled across financial markets and placed pressure on equities and digital assets. Over the past two weeks, Bitcoin has dropped by more than 10%, slipping under $75,000 earlier today—a level last seen in November 2024. The pullback coincides with broader market volatility coming from rising geopolitical and economic uncertainty. Amid this ongoing price move, a crypto analyst has suggested that the behavior of short-term holders during episodes like this is crucial in assessing the extent of ongoing market corrections. Related Reading: Bitcoin Dips Below $75K As Markets Tremble: What’s Going On? Short-Term Holders Show Early Signs of Stress According to CryptoQuant contributor Yonsei Dent, the current price action reveals important insights into investor behavior. Dent’s latest analysis centers on the STH-SOPR (Short-Term Holder Spent Output Profit Ratio), a metric that measures whether coins moved by recent buyers are being sold at a profit or loss. A reading below 1.0 indicates that holders are realizing losses, a sign often interpreted as capitulation. While Bitcoin’s price has declined significantly, Dent points out that the STH-SOPR has not yet breached extreme levels seen in past correction events. Unlike major capitulation periods in 2024—such as those in May, July, and August—the current SOPR remains near its mean value, indicating that many short-term holders are not yet exiting their positions en masse. The absence of widespread capitulation raises questions about the potential for further downside. Dent warns that if selling pressure among short-term holders intensifies, the market could experience another wave of losses. Related Reading: Analyst Uncovers Clues—Is Bitcoin’s Historic Bull Cycle Finally Topping Out? For now, all eyes remain on the $78,000 support level, which may act as a key test for whether Bitcoin can stabilize or if deeper correction lies ahead. Yonsei Dent wrote: If STHs begin to exit more aggressively, the market could face further downside pressure. In the near term, close attention should be paid to whether the $78,000 support level can hold, as it may serve as a key line in the sand for the current market structure. Technical Outlook On Bitcoin Meanwhile, technical analysts’ outlook on BTC is slightly different. According to an analyst known as Merlijn The Trader on X, BTC is currently in what is termed the “green zone” where it is an ideal opportunity for accumulation. BITCOIN IS IN THE GREEN ZONE. This is where legends bought in 2015, 2019, and 2020. Red is for selling. Green is for buying. Don’t overthink it. pic.twitter.com/hhSYEpkNNb — Merlijn The Trader (@MerlijnTrader) April 6, 2025 Featured image created with DALL-E, Chart from TradingView

Bitcoin, the leading cryptocurrency, continues to exhibit uncertain momentum since hitting its all-time high above $109,000 in January 2024. Since then, the digital asset has experienced diminished bullish activity and steady downward pressure, reflected by its latest price of approximately $82,000, marking a marginal weekly drop of about 0.6%. Related Reading: Bitcoin Market Sentiment Worsens as Bull Score Index Drops to 10 Market Implications of Volume Ratio Trends Amid these market conditions, Crypto Dan, an analyst contributing to CryptoQuant’s QuickTake platform, has provided insights highlighting a notable market trend. According to Dan, Bitcoin’s trading volume over six to twelve months acts as an indicator of the amount of capital entering the cryptocurrency market during specific market cycles. As highlighted in the chart shared, the metric typically undergoes two distinct phases of decline: the first signals the conclusion of the early bull cycle phase, while the second, lower drop, traditionally marks the peak and subsequent end of the cycle. The volume ratio trend outlined by Crypto Dan provides insights into investor behavior and market sentiment. Essentially, as this ratio decreases for the second time, historical patterns suggest that investor interest and speculative activity may begin to taper, potentially signaling the culmination of the ongoing bull run. Investors typically interpret such movements cautiously, as similar past events often preceded significant corrections in the market Technical Analysts View on Bitcoin Technical analysts add additional perspectives on Bitcoin’s current status. Analyst RektCapital recently pointed out significant developments in Bitcoin’s Relative Strength Index (RSI)—a momentum oscillator measuring the speed and magnitude of recent price movements to assess overbought or oversold conditions. RektCapital highlighted that the Monthly RSI level of 60 previously represented resistance levels during Bitcoin’s dominance peaks in August 2019 and December 2020. #BTC Dominance The Monthly RSI 60 (green) represented the peak for Bitcoin Dominance in August 2019 & December 2020 In previous cycles, Monthly RSI 60 was the ceiling In this cycle, Monthly RSI 60 is the floor$BTC #Crypto #Bitcoin pic.twitter.com/G47KSa33ZR — Rekt Capital (@rektcapital) April 4, 2025 Notably, this cycle differs, with the Monthly RSI 60 acting as a support floor rather than resistance. This change could suggest ongoing strength and potential resilience in Bitcoin’s price. Meanwhile, Javon Marks, another market analyst, emphasizes a bullish chart pattern currently forming for Bitcoin. Related Reading: Corporate Bitcoin Buying Hits Record Levels, Yet Prices Are Down—Here’s Why Marks believes these signals indicate an impending significant rally, suggesting that despite current market caution, underlying indicators remain strong, hinting at future bullish momentum. He argues investors ignoring these patterns may soon have to acknowledge a substantial upward price movement. Just another warning from us that Bitcoin can be getting massively bull soon. They can ignore the signs all they want but they are there and present and soon, they may have no choice but to face the major results of. Soon.$BTC pic.twitter.com/68ceDUyfU5 — JAVON⚡️MARKS (@JavonTM1) April 4, 2025 .Featured image created with DALL-E, Chart from TradingView

Bitcoin’s recent price trajectory has continued to show considerable instability. After briefly climbing past the $87,000 mark earlier this week, the cryptocurrency experienced a significant pullback, declining to $81,332 earlier today. As of the latest data, Bitcoin is trading at around $82,600, reflecting a weekly decrease of about 7.6%. This downward momentum indicates ongoing market uncertainty, influencing investor strategies and market sentiment. With frequent retracements and short-lived surges, the current pattern highlights persistent volatility in the cryptocurrency space. This instability has prompted some analysts to explore more profound insights into investor behavior to predict potential market directions. Related Reading: Bitcoin On High Alert: US Recession Odds Top 50% On Kalshi Analyzing Binance User Activity for BTC Market Signals CryptoQuant analyst Maartunn recently provided a perspective on Bitcoin market dynamics through an analysis of user activity on Binance, the world’s largest cryptocurrency exchange by trading volume. Maartunn’s investigation into Binance user retention patterns offered some interesting insights into trading behavior that could influence Bitcoin’s market performance. According to the analyst’s findings, over half of returning Binance users make their second deposit within 16 days following their initial transaction. Nearly 10% of users perform their second deposit within just one day, indicating active trading behavior rather than passive investment strategies. Furthermore, approximately one-third of returning users reload their accounts by day seven, reinforcing the notion that Binance predominantly attracts traders engaging in frequent transactions. Over 50% of Returning Binance Users Make a Second Deposit Within 16 Days “Some interesting takeaways: ???? Nearly 10% return on Day 1, showing immediate trading interest. ???? By Day 7, one-third of users have already reloaded. ???? By Day 16, over 50% of returning users have made a… pic.twitter.com/OG6d6BKUdt — CryptoQuant.com (@cryptoquant_com) April 4, 2025 What Does This Mean for Bitcoin? This high frequency of early deposits by returning users highlights a pattern of short-term trading rather than long-term holding. Such active engagement on Binance can directly impact Bitcoin’s price volatility, as rapid buying and selling contribute significantly to market fluctuations. Increased trading activity shortly after initial deposits often implies speculative market behavior, potentially leading to quick price movements in both directions. Overall, the behavioral trends observed on Binance suggest that Bitcoin might continue to experience sharp volatility in the near term. The quick return rate of traders to deposit funds signals a market where trading volume spikes are frequent, influencing Bitcoin’s price stability. Related Reading: Bitcoin Market Sentiment Worsens as Bull Score Index Drops to 10 As traders rapidly enter and exit positions, the market can witness sudden price shifts driven by speculative trades rather than sustained investment interest. Meanwhile, recent data has revealed Bitcoin bull score index has seen a notable drop to 10. CryptoQuant Bull Score Index has been signaling bearish conditions (40 or below) since Bitcoin was at $96K. 100 represents the most bullish conditions and 0 the least bullish (or bearish). The Index currently stands at 10. pic.twitter.com/J5vZWYg5Nb — Julio Moreno (@jjcmoreno) April 3, 2025 Featured image created with DALL-E, Chart from TradingView

Bitcoin’s price appears to have resumed its downward trajectory after briefly recovering to the $87,000 level earlier this week. At the time of writing, Bitcoin has experienced a 5.7% decline in the past 24 hours, bringing its price significantly below recent highs. Currently, BTC is down approximately 24.7% from its all-time high recorded above $109,000 in January, highlighting ongoing bearish pressure in the market. As Bitcoin continues to navigate turbulent market conditions, analysts are paying close attention to various indicators to predict the asset’s next move. Related Reading: Analyst Identifies Key Bitcoin Demand Zone For ‘Substantial Gains’ – Details Bull Score Index and Spent Output Age Bands Indicator CryptoQuant analyst Julio Moreno recently highlighted the significance of the CryptoQuant Bull Score Index, a tool designed to measure market sentiment for Bitcoin. According to Moreno, the Bull Score Index has been flashing bearish signals—below the critical threshold of 40—since Bitcoin traded around $96,000. At present, the Index has dropped even further, reaching a remarkably low level of 10, indicating severely bearish market conditions. The Bull Score Index is a metric developed to quantify the bullish or bearish sentiment of the Bitcoin market. Scores closer to 100 indicate highly bullish sentiment, suggesting strong buying momentum, while scores approaching 0 indicate overwhelmingly bearish conditions, with significant selling pressure and negative market sentiment. With the index now at 10, investor confidence appears notably weakened, pointing towards caution in the short term. Adding to these bearish signals, another CryptoQuant analyst, Maartunn, reported increased activity among older BTC holders, known as “Spent Output Age Bands.” This indicator measures the age of Bitcoin that is actively being moved or transacted. When a large volume of older coins (coins held for several years) is moved, it typically suggests that long-term holders might be preparing to sell. 1,057 Bitcoin that hadn’t moved in 7–10 years just woke up. Long-term holders may be preparing to sell. https://t.co/A6I7Mo3ljX — CryptoQuant.com (@cryptoquant_com) April 3, 2025 Maartunn noted that over 1,057 BTC aged between 7 to 10 years recently moved, pushing this indicator above the critical 50 threshold, signifying potential increased selling pressure from long-term investors. Contrasting Views from Technical Indicators Despite these bearish warnings, some analysts remain optimistic about Bitcoin’s potential near-term performance. Crypto analyst Javon Marks has pointed to the Relative Strength Index (RSI), a momentum indicator that measures the speed and change of recent price movements, to justify his bullish stance. A breakout in the RSI typically signals growing bullish momentum and could precede significant price increases. According to Marks, Bitcoin’s daily RSI has recently held its breakout level, similar to previous bullish occurrences that have historically preceded significant upward moves. Related Reading: Corporate Bitcoin Buying Hits Record Levels, Yet Prices Are Down—Here’s Why However, another analyst known as Titan of Crypto has issued a cautionary note. Titan stressed that Bitcoin needs to maintain its position within a key support channel and keep the weekly RSI above important support levels to avoid further correction. If Bitcoin fails to hold these levels, Titan predicts that a deeper market downturn could ensue, causing additional challenges for traders and investors. Featured image created with DALL-E, Chart from TradingView

Bitcoin continues to trade above the $85,000 mark, signaling a slight upward movement after weeks of price consolidation. As of today, the asset is up 2.2% on the daily chart, giving some traders a reason to anticipate a stronger rally ahead. However, broader timeframes paint a different picture. Over the last month, Bitcoin is down over 8%, and from its January 2025 all-time high above $109,000, the decline stands at more than 20%. Related Reading: Will Bitcoin Downtrend Continue? This Metric Suggests Yes Public Companies Accumulate BTC While Long-Term Holders Sell Despite this underperformance, blockchain data provider CryptoQuant has published a breakdown of corporate Bitcoin accumulation in the first quarter of 2025. The data highlights an aggressive accumulation trend among public companies. In total, these firms added 91,781 BTC to their balance sheets between January and March, suggesting continued confidence in Bitcoin’s long-term value proposition. Among the most notable buyers, Tether added 8,888 BTC in Q1 2025, bringing its total holdings to 92,646 BTC. MicroStrategy remained the most aggressive acquirer, purchasing 81,785 BTC worth over $8 billion. Other participants included Semler Scientific (+1,108 BTC), Metaplanet (+2,285 BTC), and The Blockchain Company (+605 BTC). CryptoQuant also mentioned that Marathon Digital is planning a $2 billion stock sale to fund future Bitcoin purchases, while GameStop is exploring a $1.3 billion convertible note offering to support its entry into Bitcoin investing. However, this strong demand was not enough to sustain Bitcoin’s price. CryptoQuant reported that long-term holders offloaded around 178,000 BTC during the same period, adding significant sell pressure. The situation was exacerbated by outflows of approximately $4.8 billion from spot Bitcoin ETFs, which further weighed on price action. Adding to the sell pressure: $4.8 billion flowed out of Bitcoin ETFs in Q1. Despite corporate buying, this wave of outflows likely weighed heavily on price. pic.twitter.com/gZZz5RJxdK — CryptoQuant.com (@cryptoquant_com) April 2, 2025 Key Support Levels for Bitcoin Identified by Analyst Meanwhile, CryptoQuant analyst BorisVest identified an important support zone between $65,000 and $71,000. This range is derived from two specific metrics: the Active Realized Price and the True Market Mean Price. The Active Realized Price, currently around $71,000, filters out long-dormant coins to better reflect the behavior of more active market participants. On the other hand, the True Market Mean Price at $65,000 represents a broader average based on recent transaction history. Related Reading: Bitcoin Stays Down, But Whale Wallets Quietly Climb to 4-Month High BorisVest noted that if Bitcoin’s price falls into this zone, it could see strong demand from long-term holders and institutional buyers alike. He suggested that this area may serve as a foundation for further accumulation and potentially act as a springboard for a new upward phase. Regardless, while some market participants continue to exit their positions, others appear to be taking advantage of the consolidation to accumulate. Featured image created with DALL-E, Chart from TradingView

Bitcoin has seen a notable price consolidation over the past few weeks, trading between the $84,000 and $86,000 levels. Despite the initial surge in price, the cryptocurrency has faced a decline of 3.7% in the past week and nearly 10% in the past month, signaling a period of stagnation in its upward momentum. At the time of writing, Bitcoin is priced at $84,263, raising questions about the future trajectory of the asset as investors await a clear direction. Related Reading: Bitcoin Reverses Losses—Analysts Say $100K Is On The Horizon The Dead Cross: A Signal for a Potential Price Drop? BilalHuseynov, a contributor to CryptoQuant’s QuickTake Platform, has offered valuable insights into Bitcoin’s current market behavior. In his latest post, titled “Will Bitcoin Drop Anymore?”, he sheds light on key on-chain metrics that may help predict the next movement in Bitcoin’s price. His analysis revolves around the behavior of two important metrics: Realized Cap and Thermo Cap, particularly focusing on their recent crossover, which could have significant implications for Bitcoin’s price direction. Huseynov explains that the Realized Cap metric, which tracks Bitcoin’s total value based on its last movement price, gives a more accurate representation of the network’s economic value. On the other hand, Thermo Cap measures the total capital introduced into the BTC network through mining. When Thermo Cap crosses below Realized Cap — known as a “Dead Cross” — it signals that Bitcoin might be heading toward a price decline. Huseynov points out that this situation is unfolding and predicts that BTC’s price could drop to as low as $75,000 if the second Dead Cross materializes. Is The Bitcoin Market Condition Still Healthy? In addition to Huseynov analysis, another CryptoQuant’s analyst Banker has provided insight into the Coin Days Destroyed (CDD) metric, which tracks the movement of long-dormant BTC. Since March 2025, the CDD 60-day moving average has remained low, indicating that long-term holders are not selling their Bitcoin in large quantities. This behavior is often a sign of confidence among seasoned investors, suggesting that they believe in Bitcoin’s long-term potential. Related Reading: Is The Bitcoin Bull Run Over? Watch This Key Price The absence of major CDD spikes indicates that the market is not experiencing extreme price volatility, which could signal a period of consolidation or eventual upward momentum as selling pressure remains low. This development also coincides with recent reports of short-term holders exhibiting less selling pressure after their initial move of taking profits. Decrease in selling pressure by 1-3 month holders “These holders appear to show reduced activity in the market after taking profits from their short-term trades.” – By @CryptoOnchain Read more ⤵️https://t.co/ThyGe7pjPO pic.twitter.com/0minPLfiWM — CryptoQuant.com (@cryptoquant_com) April 1, 2025 Featured image created with DALL-E, Chart from TradingView

Market jitters persisted ahead of President Trump's large-scale tariffs on "Liberation Day," throwing more uncertainty on seasonal Q2 price patterns.

Bitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its all-time high of $109,000 reached in January. The ongoing price fluctuations have left Bitcoin in a downward trend on a broader time scale, with investors and analysts closely watching for signs of a rally. Related Reading: Will Bitcoin Downtrend Continue? This Metric Suggests Yes Path To $150k: Short-Term Holders’ Changing Behavior Despite the recent dip, data from CryptoQuant provides interesting insights into Bitcoin’s market dynamics. According to one of CryptoQuant’s contributors, Onchained, the behavior of short-term holders is a key factor to observe in the current market. Onchained’s analysis suggests that short-term holders, defined as those who have held Bitcoin for between one and three months, are no longer panicking and selling at a loss as they did in previous market cycles. The analysis reveals a slowdown in the selling pressure from this group, suggesting a shift in sentiment. Onchained’s report highlights the importance of the Short-Term Holder Net Realized PNL to Exchanges (CEXs) metric. This metric helps determine the selling pressure on Bitcoin, showing who is selling, whether they’re selling at a profit or loss, and the overall intensity of the market’s movement. The data indicates that while short-term holders are selling, the realized losses have been relatively low compared to unrealized losses. This suggests that these holders, despite being in the red, are opting to hold their positions rather than panic sell. Onchained further notes that this reduction in selling pressure could indicate the formation of a market bottom. Historically, when realized losses from short-term holders have been low and selling pressure has diminished, it has marked the end of a downward trend and the beginning of a recovery phase. With 28% of Bitcoin’s circulating supply in the hands of short-term holders, if these coins transition into long-term holders, it could significantly contribute to Bitcoin’s price surge beyond $150,000. Related Reading: Saylor’s Strategy Adds $1.9 Billion Worth Of Bitcoin To Growing Portfolio Decreasing Selling Pressure and What It Means for Bitcoin’s Future Another CryptoQuant analyst, CryptoOnchain, has pointed out that the selling pressure from short-term holders is indeed decreasing, as reflected in both the Short-Term SOPR chart and the UTXO Age Band for holders between one to three months. The data shows a decrease in Bitcoin being moved by this group, suggesting that short-term investors are holding off on making further sales. This aligns with Onchained’s view that a reduction in short-term selling pressure could signal a market bottom. Decrease in selling pressure by 1-3 month holders “These holders appear to show reduced activity in the market after taking profits from their short-term trades.” – By @CryptoOnchain Read more ⤵️https://t.co/ThyGe7pjPO pic.twitter.com/0minPLfiWM — CryptoQuant.com (@cryptoquant_com) April 1, 2025 If the trend of lower selling pressure continues, Bitcoin could see more stability or even a price rebound. As we approach a crucial phase for Bitcoin, all eyes will be on these short-term holders and the potential for a longer-term shift in sentiment. Featured image created with DALL-E, Chart from TradingView