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Bitcoin’s recent climb appears to have momentarily slowed following a period of consistent upward momentum. After briefly trading above $104,000 earlier in the week, the price has since retraced to around $102,004, reflecting a modest 1.2% dip in the past 24 hours. Despite the pullback, BTC remains up nearly 20% over the past month and is currently trading 6.4% below its all-time high of $109,000 reached in January. CryptoQuant contributor Carmelo Alemán shared insights into the activity of long-term holders (LTHs), suggesting a potential link between the recent pullback and increasing realized profits among seasoned investors. Related Reading: Bitcoin Exchange Stablecoins Ratio Surges—A Warning For Investors? Bitcoin SOPR and Profit-Taking Behavior Signal Distribution Trends According to Alemán, the Bitcoin SOPR (Spent Output Profit Ratio) for LTHs has risen significantly since March 12, marking a 71.33% growth in realized profits. This trend may reflect strategic profit-taking among investors who accumulated Bitcoin at lower prices during previous consolidation phases. Alemán’s analysis highlights how Bitcoin’s long-term holders, those who have held BTC for more than 150 days, have steadily increased their profit margins over the past two months. As of May 13, the SOPR for LTHs reached 2.27409, indicating that coins moved by these investors were sold at an average return of 227.41%. In practical terms, an investor who bought BTC for $50,000 would have realized roughly $113,705, with $64,000 in profit. This behavior may point to a period of cautious distribution, as experienced holders seek to lock in gains ahead of potential market corrections. Historically, such spikes in SOPR values tend to align with the later stages of market rallies, when price volatility increases and profit-taking accelerates. Alemán suggests that while the market has yet to reach its full cycle peak, LTHs may be preparing for such a scenario by adjusting their positions accordingly. This cautious profit-taking could influence near-term price movements, particularly if short-term traders follow the lead of more seasoned market participants. Related Reading: Bitcoin Will Hit $1 Million By 2028 As Capital Controls Kick In: Top Expert Mixed Signals from LTH Behavior: Selling Slows Despite Price Nearing ATH In contrast to Alemán’s observation, another CryptoQuant analyst, ShayanMarkets, presented a different view of LTH behavior. According to Shayan, while the Bitcoin market is experiencing some profit-taking pressure, long-term holders are not contributing significantly to the selling activity. This view is supported by the declining SOPR metric among LTHs, which suggests that these investors are either holding or continuing to accumulate. This divergence may indicate a shift in the market’s dynamics. Whereas prior rallies were often met with widespread distribution from early adopters, the current trend could be characterized by stronger conviction among institutional or strategic holders. If this behavior continues, Bitcoin may resume its upward momentum once short-term selling pressure subsides. Shayan wrote: Based on this behavior, Bitcoin is likely to resume its bullish trend following this pause, potentially leading to a fresh impulsive rally and new all-time highs in the mid-term. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s recent market movement reflects ongoing upward momentum, even as short-term fluctuations suggest some cooling. As of today, BTC trades at $103,485, reflecting a slight 0.6% dip in the last 24 hours and a near 10% decline over the past week. However, the asset remains just under 5% below its all-time high of $109,000 reached in January, continuing to hold a position near record levels. This pattern suggests Bitcoin may be entering a consolidation phase, supported by long-term bullish fundamentals. Amid this price performance, renewed activity among long-term holders is generating interest about the sustainability of the current price range and the potential for future volatility. Related Reading: Bitcoin Near ATH, But Still No Extreme Greed: Green Sign For Bull Run? Bitcoin Binary CDD Signals Potential Market Rotation CryptoQuant analyst Avocado Onchain recently highlighted a key indicator known as Binary Coin Days Destroyed (CDD), which helps assess the behavior of long-dormant Bitcoin. Binary CDD increases when older coins are moved after extended periods of inactivity, typically a sign of long-term holders re-entering the market or preparing to sell. Historically, spikes in Binary CDD have coincided with market tops or phases where distribution from early holders to newer market participants increases. According to Avocado, applying a 30-day moving average to Binary CDD smooths the data and provides a clearer view of macro trends. During previous Bitcoin rallies, including in late 2021 and during the twin peaks of 2024, the Binary CDD rose past the 0.8 threshold. That level historically signaled elevated movement from long-term holders, often aligning with increased selling pressure or profit-taking behavior. Currently, the indicator sits near 0.6 and is trending upward as Bitcoin attempts to retest its highs. If Binary CDD crosses the 0.8 mark again, it may suggest another wave of distribution is underway. Monitoring Profit Realization Behavior What makes Binary CDD useful is its ability to reflect potential shifts in market structure. When long-term holders begin moving large volumes of BTC, it often signals the start of profit-taking, especially if accompanied by high prices and strong market sentiment. However, the indicator alone does not confirm sell-offs; context, such as exchange inflows and broader trading data, is necessary to interpret it fully. In a broader sense, the current uptick in Binary CDD may point to Bitcoin entering a transitional stage. Rather than signaling the end of an uptrend, it could indicate that notable investors are gradually rotating capital or responding to price action in anticipation of near-term changes. In a separate market signal, another CryptoQuant analyst, EgyHash, highlighted concerns arising from the Exchange Stablecoins Ratio (USD), a metric that compares Bitcoin reserves to stablecoin holdings on exchanges. According to EgyHash, this ratio has climbed to around 5.3, surpassing the threshold of 5.0, which previously coincided with distribution phases in the market. A similar level in late January led to a pullback, and the current reading suggests that more traders may be preparing to sell, possibly rotating BTC holdings back into stablecoins or fiat equivalents. Featured image created with DALL-E, Chart from TradingView

Bitcoin has continued its steady ascent, with the asset now trading above $103,000. This marks a 0.4% decrease over the last 24 hours and more than 20% over the past month. While the rally has reaffirmed bullish sentiment in broader markets, recent data points to a shift in the sources driving this momentum. A CryptoQuant analyst has observed a growing disparity between regional and global market behavior, especially regarding the price of Bitcoin across different exchanges. Related Reading: Bitcoin Treasury Firms Are This Cycle’s Bubble, Experts Warn Upward Momentum as Global Investors Take the Lead CryptoQuant analyst Avocado Onchain recently analyzed a key metric known as the “Korea Premium,” which tracks the price difference between Bitcoin on Korean exchanges and international platforms. Despite Bitcoin’s rising market price, the Korea Premium has been on a consistent downward trend. This suggests the ongoing rally is largely being driven by institutional flows and investor sentiment in markets outside Korea, rather than from the historically active Korean retail segment. In previous cycles, particularly in 2017 and 2021, South Korean exchanges often traded BTC at a premium due to local demand surges, sometimes up to 20% higher than international prices. These periods were typically seen as signals of retail-driven euphoria. Avocado explains that this change in market dynamics reflects a new phase of capital distribution in the crypto space. With spot Bitcoin ETFs now operational in the US, and growing interest from corporations and even sovereign wealth entities, a larger share of trading activity is being driven by institutional strategies rather than retail speculation. This is reflected in the subdued Korea Premium, which failed to spike even as BTC crossed major resistance levels in recent months. Institutional Activity Redefines Bitcoin’s Market Drivers According to Avocado, even if a rebound occurs, any Korea Premium near 10%—once considered modest—should now be interpreted as elevated. The absence of excessive domestic premiums highlights that Asian retail is no longer setting the pace in Bitcoin markets. Instead, global institutional actors, armed with new vehicles like ETFs and custodial platforms, appear to be the primary drivers of demand. This shift is significant because it may signal more sustained and less volatile growth for Bitcoin, in contrast to previous boom-and-bust cycles fueled by retail enthusiasm. Related Reading: Buyers Take Control: Indicator That Predicted Previous Bitcoin Rallies Fires Again Avocado’s observations suggest a maturation of the crypto market. With retail sentiment lagging and institutional interest rising, Bitcoin’s price trajectory may now be more responsive to global macroeconomic events, policy shifts, and capital allocation trends from major asset managers. This evolving dynamic could also change how traders interpret volume spikes and volatility, especially as retail signals like the Korea Premium lose some of their predictive power. Featured image created with DALL-E, Chart from TradingView

XRP has aligned itself with the broader cryptocurrency market’s upward trend, registering significant gains over the past week. The asset recorded a 20% rise on the weekly chart before retreating slightly. At the time of writing, XRP trades at $2.54, reflecting a 2% decline in the past 24 hours. Despite the minor dip, the asset remains well above recent local lows and is showing signs of growing trader interest. According to a new analysis shared by CryptoQuant contributor BorisVest, activity in XRP derivatives on Binance indicates potential accumulation amid increasing speculative interest. Related Reading: XRP Price To Rally To $6: Partially Completed Wave 5 Says There’s Still Room To Run The market, which previously saw a steep drop in open interest, is now witnessing a resurgence in leveraged trading positions. These on-chain dynamics may be hinting at a shift in sentiment as participants return following the earlier flush-out. XRP Open Interest Rebounds as Traders Re-Enter the Market Open interest, defined as the total number of active futures contracts not yet settled—serves as a gauge for market engagement. When open interest increases alongside price, it often suggests rising speculative participation.  In XRP’s case, the data shows a sharp rebound from a previous $530 million low to a higher range, suggesting a recovery in market confidence after a significant drop from its $1.5 billion peak. BorisVest also analyzed Binance funding rates, which reflect the cost of maintaining long or short positions in perpetual futures. These rates become positive when long positions dominate and negative when short interest prevails.  During XRP’s recent correction, the funding rate turned negative, indicating an influx of short positions and setting up conditions for a possible short squeeze. A short squeeze occurs when short sellers are forced to buy back their positions due to rising prices, often resulting in rapid upward price movements.  Currently, the funding rate is neutral, suggesting equilibrium between bullish and bearish positions, though subtle signals point to increasing short exposure. Taker Sell Pressure Meets Steady Price: Signs of Absorption? Another metric underlined in the analysis is the Taker Buy/Sell Ratio. This indicator compares the volume of aggressive buy orders (market buys) against sell orders (market sells). A ratio below 1 implies that sellers are more aggressive.  In this case, XRP’s Taker Buy/Sell Ratio stands at 0.91, meaning selling pressure dominates. However, the absence of significant price declines despite the pressure implies potential absorption by larger players, which can be a precursor to bullish price movements. Related Reading: Crypto Analyst Says XRP Price Must Clear This Level Or Risk Crash To $1.9 The combination of rising open interest, neutral funding rates, and sustained price levels despite sell pressure suggests that XRP may be experiencing silent accumulation. While the market remains indecisive, these patterns are often observed in the early stages of a trend reversal or breakout. As speculative activity picks up, it could be worth monitoring these signals closely for further confirmation. Whether this leads to a continuation of XRP’s rally or not, the current data points to a market that is actively recalibrating, and possibly preparing for the next phase in price action. Featured image created with DALL-E, Chart from TradingView

Bitcoin has been able to climb above the $104,000 level, following a notable double-digit increase over the past week. At the time of writing, BTC trades at $104,271, narrowing the gap to its all-time high of $109,000. This recent price surge is not occurring in isolation. Instead, it appears closely tied to broader macroeconomic developments, most notably, the recent easing of trade tensions between the US and China, with both countries reducing tariffs on certain imports and exports. Market participants have responded positively to these policy shifts, signaling renewed risk appetite across traditional and digital asset markets. Bitcoin’s rally over the weekend reflects this optimism, with analysts identifying key technical indicators pointing toward rising buyer strength. One such indicator, the Taker Buy Sell Ratio, is gaining attention for marking previous turning points in Bitcoin’s price history. Related Reading: Bitcoin Nears All-Time High as $312M BTC Exit Binance Following US-China Trade Deal Bitcoin Taker Buy-Sell Ratio Signals Renewed Bullish Control CryptoQuant contributor G a a h highlighted that the Taker Buy Sell Ratio, a metric measuring the ratio of market buy orders to sell orders, has climbed to a significant threshold of 1.02. Historically, similar levels have coincided with crucial inflection points in Bitcoin’s price movement. For instance, this metric reached comparable highs during the late 2022 lows between $15,000 and $20,000, and again in October 2023 as Bitcoin broke through the $30,000 resistance level. According to G a a h, this recent breakout above the 1.00 line reflects an increase in aggressive buying activity, with market takers once again asserting short-term control. This suggests upward momentum may persist in the near term. However, the analyst also cautioned that these same conditions have previously been followed by volatility spikes, marking both the start and reversal of market trends. The analyst wrote: It’s worth noting that in previous periods, this same level has coincided with reversal zones or strong volatility, marking both the start and end of trends. We are therefore facing a scenario where buyer appetite could continue to drive BTC towards new highs. Realized Price Trends Confirm Ongoing Market Strength In a separate analysis, CryptoQuant analyst Crypto Dan examined Bitcoin’s realized price, a metric that reflects the average purchase price of all circulating BTC, as a tool to gauge market sentiment and directional strength. According to the report, the realized price is still on the rise, indicating that investors are increasingly accumulating BTC at higher prices. This trend differs significantly from previous cycles, where a reversal in the realized price preceded steep corrections. Crypto Dan attributes the current rise to institutional inflows, particularly through spot Bitcoin ETFs and corporate balance sheet purchases. These channels have brought in sustained capital, elevating the average acquisition price and reinforcing market structure. Related Reading: Why The US-China 90-Day Tariff Slash Can Push Bitcoin Price Above $110,000 As institutional players continue to allocate capital into Bitcoin, the realized price trend suggests that the ongoing rally may have more room to extend. With macroeconomic support from tariff reductions and on-chain indicators flashing green, the broader setup remains constructive for Bitcoin’s continued strength in the near term. Featured image created with DALL-E, Chart from TradingView

Ethereum is following the broader crypto market rally with renewed momentum, registering a 38.2% increase in the past week. At the time of writing, ETH is trading above $2,400, continuing its upward trajectory and narrowing the gap between its current price and its all-time high of $4,878 recorded in 2021. The asset’s recent performance has placed it firmly in line with Bitcoin and other major cryptocurrencies, benefiting from revived market confidence. On-chain activity is also beginning to reflect these price movements, especially among Ethereum stakers. According to data shared by CryptoQuant contributor Carmelo Alemán, Ethereum stakers have returned to a state of unrealized profits following a prolonged period of holding at a loss. This shift, the analyst notes, could play a role in shaping the next phase of Ethereum’s market dynamics as staking participants regain confidence in the network’s long-term outlook. Related Reading: Ethereum Price Completes Bullish Structure Break – $3,000 Comes Next Realized Price and Stakeholder Sentiment In his post titled “From Red to Green: Ethereum Stakers Are Back in Profit,” Alemán explained that staked tokens behave differently from regular circulating supply, remaining mostly static and thus excluded from metrics that rely on liquidity or transfer activity. This difference is essential in understanding metrics like the Realized Price, which calculates the average acquisition cost of a given cohort. Since March 3, 2025, Ethereum stakers have been operating under unrealized losses, with the Realized Price at $2,279 and the market price falling to $2,149. However, that changed on May 9, 2025, when the market price of ETH reached $2,297, pushing the staked cohort back into profitability. At that moment, the updated Realized Price stood at $2,276, indicating that a majority of staked tokens were once again held above their cost basis. The renewed profitability could reduce selling pressure and strengthen the resolve of validators and long-term holders who form the backbone of Ethereum’s proof-of-stake consensus model. Implications for Ethereum’s Ecosystem The return to unrealized profits among Ethereum stakers may signal broader positive implications for the network. Alemán emphasized that staked ETH is not only held by individuals seeking yield, but also plays a crucial role in maintaining Ethereum’s network security through validator participation. The shift back into profit territory may encourage new staking activity while discouraging premature withdrawals or profit-taking, helping to stabilize the supply side of the market. Related Reading: Here Are 5 Reasons Ethereum May Reach $12,000 In 2025 – Analyst In addition to individual stakers, institutions and Layer 2 protocol participants may interpret this trend as a bullish indicator for Ethereum’s future trajectory. Alemán noted: This type of price recovery has the potential to trigger new waves of accumulation and participation in the network, further enhancing its security and long-term stability. If ETH maintains this upward trend, we may be witnessing the beginning of a new bullish cycle for Ethereum and its most committed actors, including L2 solutions and other ecosystem players. Featured image created with DALL-E, Chart from TradingView

Bitcoin has continued its upward trend, recording a weekly price increase of 10.4% and currently trading at $103,881. The asset has surged over 24% in the last month, fueled by growing optimism across both crypto and traditional markets. Although still about 4% below its January all-time high, the latest developments suggest that bullish momentum may be building again. This renewed price strength appears to be supported by significant capital movements, including a notable Bitcoin outflow from the Binance exchange. Related Reading: Bitcoin 6-Month Flight Plan To $188,000, Here’s The Roadmap Bitcoin Exchange Outflows Suggest Accumulation Phase According to recent data shared on CryptoQuant’s QuickTake platform by analyst Amr Taha, over 3,000 BTC, valued at approximately $312 million, was withdrawn from Binance on May 12, marking one of the largest daily outflows in recent months. This coincided with a key macroeconomic development: a new trade agreement between the United States and China, which also sparked a sharp rebound in US equity markets, with the S&P 500 jumping more than 3%. Taha’s analysis indicates that this substantial Bitcoin withdrawal is part of a broader trend. Binance’s BTC reserves have declined consistently, falling from approximately 595,000 BTC in late February to 541,400 BTC by mid-May. The ongoing reduction in exchange balances typically signals a preference among investors for cold storage solutions or private wallets. Historically, such moves are viewed as indicative of accumulation behavior, suggesting lower near-term selling pressure and a more bullish medium-term outlook. The timing of the withdrawal, immediately following a geopolitical breakthrough between two of the world’s largest economies, adds further context. Taha highlights that capital markets responded positively to the easing of US-China tariff tensions, and the corresponding activity in the crypto space suggests Bitcoin investors are aligning their strategies accordingly. With macro uncertainty temporarily subdued, large holders appear to be repositioning for potential future gains, removing liquidity from exchanges to mitigate exposure and reduce immediate sell-side pressure. Macro Trends Influence Market Positioning The analyst further noted that market participants seem to be increasingly responsive to macro signals. The scale of the BTC withdrawal on May 12, paired with rising equity markets, illustrates how capital is shifting across asset classes in response to broader economic developments. Taha suggests this coordinated movement reflects renewed risk appetite and a possible recalibration of investor strategies in light of improving global trade dynamics. Related Reading: Are Bitcoin Bears Losing Out? $31 Million Wiped Out In BTC Shorts Liquidation While it remains to be seen whether this momentum can be sustained, recent patterns support the view that long-term holders and institutional participants are gaining confidence in Bitcoin’s role within a diversified investment strategy. As traditional markets recover and geopolitical risks ease, Bitcoin’s reduced exchange reserves and growing off-exchange holdings may lay the groundwork for another test of its all-time high. The coming weeks will likely be crucial in determining whether current inflows translate into a full-scale breakout or a period of consolidation. Featured image created with DALL-E, Chart from TradingView

Bitcoin has revisited the $100,000 mark for the first time in months, gaining nearly 5% in the past week. As of the time of writing, BTC is trading at $102,922, up 3.5% on the day and just 5.2% shy of its all-time high of $109,000 recorded in January. The latest push above this critical psychological threshold marks a renewed phase of bullish market behavior, following weeks of range-bound trading between $93,000 and $98,000. Related Reading: Massive Buy Pressure Hits Binance as Bitcoin Reclaims $100,000 Short Liquidation Clusters Ignite Rally According to insights shared by CryptoQuant contributor Amr Taha, the recent rally has been driven in part by a sequence of short liquidation events on Binance. These events not only removed downward pressure from the market but also flipped the derivatives funding market, signaling a possible change in trader sentiment. Taha explained that a large cluster of short positions had accumulated in recent days, creating conditions ripe for a squeeze. Taha noted that the first key liquidation occurred at the $97,000 level, where a large number of short positions were wiped out, totaling approximately $360 million. Traders had positioned themselves for a local top, but instead, BTC broke through this zone, triggering a cascade of short covers and forced liquidations. This resulted in a rapid price acceleration as sellers were pushed to close their positions. Shortly after this surge, the price consolidated below the $101,000 mark, where another dense cluster of short interest had formed. This acted as a magnet for a second liquidation wave. When BTC breached $101,000, nearly $240 million in shorts were liquidated, contributing to a breakout that pushed the price toward $104,000. Data from liquidation heatmaps highlighted both $97,000 and $101,000 as high-liquidity targets, reinforcing the narrative that these were calculated liquidation sweeps. Bitcoin Funding Rate Shift Signals Bullish Sentiment The impact of these events extended beyond spot price movement. Taha pointed to Binance’s funding rate chart, showing that prior to the liquidation events, the funding rate was negative, a reflection of bearish bias among traders who were paying to maintain short positions. Following the twin liquidation waves, the funding rate flipped to +0.01%, a key signal that demand for long exposure was increasing. This transition from negative to positive funding is often interpreted as a shift in market structure, from bear-dominated to bull-dominated sentiment. It suggests that many traders now expect further upside, at least in the near term. Related Reading: Trump’s $6 Billion Trade Deal With The UK Pushes Bitcoin Past $100,000 Additionally, the rapid adjustment in funding rates highlights the impact that derivative market positioning can have on spot price behavior, especially during periods of thin liquidity or elevated leverage. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s price has finally reclaimed the $100,000 milestone after ranging below it for several weeks. This latest surge signals renewed momentum in the broader crypto market. At the time of writing, the asset trades at $100,383, reflecting a 3.5% gain over the past 24 hours. Despite this climb, Bitcoin remains roughly 8.4% % below its all-time high of $109,000 reached in January 2025, highlighting room for further upside if buying interest persists. Related Reading: Bitcoin Investors Are Taking Profits Aggressively – Signs Of A Local Top? Buy-Side Pressure Mounts as Key Metric Hits Bullish Threshold A CryptoQuant analyst has reported that the Taker Buy-Sell Ratio on Binance, which reflects the level of aggressive buying versus selling, is currently trending upward. Crazzyblockk highlighted key insights into this trend and what it may signal for Bitcoin’s price trajectory. According to the post titled “Binance Taker Buy-Sell Ratio – Your Smart Money Radar,” the ratio currently stands at 1.131, suggesting a dominant presence of market buyers over sellers. The seven-day average has trended up to 1.045, while the 30-day average shows a 12.1% surge. These readings signal bullish sentiment, although the associated z-score of 2.45 suggests that market conditions may be approaching short-term overbought levels. Crazzyblockk notes that Binance remains one of the most reliable platforms for gauging sentiment due to its deep liquidity and trading volume. The platform’s scale provides an accurate reflection of institutional and high-volume trader behavior. The analysis suggests that if the taker ratio stays above 1.1 and Bitcoin sustains the $99,000 level, bullish continuation is likely. However, a dip below 1.05 could hint at profit-taking and potential consolidation. The elevated price volatility also provides opportunities for short-term traders looking to capitalize on market swings. Bitcoin New Whales Reshape Ownership Dynamics in 2025 In a separate analysis, CryptoQuant contributor OnChainSchool has observed notable changes in the makeup of Bitcoin’s largest holders. Using on-chain data, the analyst identified a substantial increase in the number of wallets holding more than 1,000 BTC with coins aged less than 155 days, typically considered new whales. The ratio of new to old whales has risen from 0.16 to 0.28 this year, marking a 75.6% increase in their relative presence. These new wallets have collectively added over 430,000 BTC to their holdings, while older whales have trimmed their exposure by around 24,000 BTC. Despite the dynamic nature of wallet categorization, where new whales age out after 155 days, the upward trend in balances points to an influx of capital from newer, high-value investors. Related Reading: Bitcoin’s Realized Cap Hits Record High as Accumulation Continues Interestingly, this coincides with the recent report of an all-time high recorded in Bitcoin’s realized cap, which signals growing confidence in BTC among holders. Bitcoin Breaks Realized Cap All-Time High for the Third Consecutive Week “This pattern reflects growing confidence among both Long-Term Holders and Short-Term Holders, who are strengthening their positions as the market shows signs of recovery.” – By @oro_crypto pic.twitter.com/rQoWq1zqHy — CryptoQuant.com (@cryptoquant_com) May 8, 2025 Featured image created with DALL-E, Chart from TradingView

Ethereum has seen renewed upward momentum over the past week, aligning with the broader recovery across the cryptocurrency market. At the time of writing, ETH is trading at $1,989, having climbed 6.4% over the past seven days and registering a 6.7% increase in the last 24 hours. This rebound comes after a period of relative stagnation and appears to be supported by notable on-chain and market developments that point toward growing investor interest and liquidity activity. Recent insights from CryptoQuant analysts suggest that a confluence of exchange outflows and large stablecoin minting may be playing a role in Ethereum’s current trajectory. Related Reading: Ethereum Staking Surges Post-Pectra—Is a Bullish Breakout Brewing? Institutional Signals: Binance Outflows and Stablecoin Activity According to analyst Amr Taha, more than 85,000 ETH were withdrawn from Binance in the hours leading up to ETH’s surge above the $1,900 level. This level of outflow is one of the most significant in recent months and tends to indicate reduced sell-side liquidity. When large amounts of ETH leave exchanges, it typically reflects investor intent to hold or deploy assets elsewhere, decreasing available supply for immediate sale and potentially setting the stage for upward price movements. Taha also highlighted that on May 7, Tether Treasury minted $1 billion in USDT on the TRON blockchain. Such events often precede capital deployment into the crypto market, especially from institutional or over-the-counter (OTC) entities. While the minted USDT does not necessarily enter ETH directly, the timing, coinciding with the ETH price breakout, suggests a strong possibility that some of this liquidity found its way into Ethereum or related trading pairs. These movements combined point to a bullish setup, with reduced exchange reserves and increased capital inflows forming favorable conditions for continued price appreciation. Ethereum Liquidity and Exchange Behavior May Shape Short-Term Trajectory Adding to this narrative, CryptoQuant analyst Darkfost noted a sharp uptick in stablecoin inflows to Binance, with May 6 marking the highest single-day inflow since April. Stablecoins like USDT and USDC are frequently used as a gateway for crypto trading, and inflows to exchanges often suggest that investors are preparing to make purchases. This pattern is often observed at the onset of market rallies, as capital parked in stablecoins gets reallocated into more volatile assets such as ETH and BTC. Related Reading: Ethereum To ‘Witness Big Breakout’ In The Next Two Weeks If This Level Holds Darkfost explained that Binance currently holds the largest stablecoin reserves among all major centralized exchanges. Since November 2024, the trend in reserves has steadily increased, highlighting the exchange’s central role in market activity. A large reserve base signals growing user activity and amplifies the potential impact of new capital entering the market. As this liquidity is gradually deployed, it may act as a catalyst for further price movements across major assets. Featured image created with DALL-E, Chart from TradingView

Ethereum’s price has seen a moderate recovery over the past week, tracking closely with the broader crypto market’s positive momentum. At the time of writing, ETH is trading at $1,820, reflecting a 3.3% increase over the last seven days and a 2.5% gain in the past 24 hours. While the asset remains well below its all-time highs, this gradual rise suggests a potential shift in sentiment among investors. The latest on-chain insights from CryptoQuant point to a notable trend developing within Ethereum’s staking ecosystem. Related Reading: Ethereum ‘Insanely Undervalued’ As Accumulation Addresses Keep Stacking – Is A Rally Imminent? Post-Pectra Staking Activity Marks Sentiment Shift According to analyst Kripto Mevsimi, the post-Pectra upgrade period has been marked by a reversal in staking flows. After a brief pullback ahead of the network update, ETH holders appear to be returning to staking, with fresh inflows suggesting renewed interest and confidence in Ethereum’s long-term direction. Mevsimi’s analysis shows that between November 16 and February 15, before the Pectra upgrade was publicly announced, Ethereum’s total staked supply dropped by over 1 million ETH. This retreat likely reflected investor uncertainty surrounding the update and broader market conditions. However, from mid-February to mid-May, staked ETH has increased by approximately 627,000 ETH, signaling a return of staking activity following Pectra’s implementation. The upgrade itself introduced important validator improvements and flexibility enhancements, including EIP-7002, which some analysts believe may pave the way for institutional adoption or potential ETF alignment. The renewed staking trend, while not yet dramatic in scale, appears to indicate an early phase of repositioning within the Ethereum ecosystem. Mevsimi suggests that this could mark the beginning of institutional preparation or a broader reassessment of Ethereum’s staking value proposition. With regulatory clarity still developing and macroeconomic uncertainty in play, the future of this trend remains fluid. However, the behavioral pivot post-upgrade may reflect strengthening structural support for Ethereum as a network. Ethereum Fee Revenue Declines Despite Price Recovery While staking metrics suggest a shift toward renewed engagement, Ethereum’s on-chain activity presents a more cautious picture. In a separate update, CryptoQuant analyst Carmelo Alemán highlighted a steep drop in the network’s fee revenue. Data from the Ethereum: fees (Total) metric reveals that daily fees have plummeted from 5,646 ETH on November 13, 2024, to just 292 ETH by May 6, 2025—a 94.82% decline. This dramatic reduction in fee generation impacts validators directly, as it lowers rewards tied to securing the network. Alemán notes that the decline may also be linked to reduced demand for block space, fewer transactions, or increasing user migration to Layer 2 platforms such as Arbitrum, Optimism, or zkSync, where fees are typically much lower. Related Reading: Ethereum Spot Volume Declines While Long-Term Holders Continue Accumulating The contrast between rising staking activity and declining fee revenue highlights a complex environment in which investors appear confident in Ethereum’s long-term potential despite a near-term slowdown in on-chain engagement. Featured image created with DALL-E, Chart from TradingView

Bitcoin is currently trading just under the $100,000 psychological threshold, maintaining a sideways trajectory in recent weeks. At the time of writing, the asset trades at $97,005, reflecting a modest 2.6% gain over the past seven days and a 3.3% increase in the last 24 hours. While volatility remains subdued, recent on-chain data highlights a steady rise in investor activity that could hint at future price movement. Related Reading: Bitcoin In The Middle Of A Decision Point, Analyst Says—Here’s Why Bitcoin Investor Confidence Reflected in On-Chain Metrics CryptoQuant contributor Carmelo Alemán has outlined an ongoing trend that points to sustained investor interest. In a recent QuickTake post, Alemán noted that Bitcoin’s Realized Cap, representing the aggregate value of coins based on their last movement, has reached an all-time high for the third consecutive week. The metric, calculated by multiplying each unspent transaction output (UTXO) by its purchase price, rose to $890.7 billion, indicating growing capital inflow into the asset. According to Alemán, the consistent climb in Bitcoin’s Realized Cap demonstrates a continuation of accumulation by both long-term and short-term holders. The increased capital invested in BTC over the past few weeks suggests that market participants are positioning themselves for a potential price breakout. This pattern of capital inflow may be laying the groundwork for a stronger bullish phase if sustained investment continues. Long-Term Holders (LTHs) and Short-Term Holders (STHs) appear to be increasing their stakes during this consolidation period. Alemán emphasized that the rising Realized Cap does more than reflect price, as it also captures market conviction. The metric signals a growing belief in Bitcoin’s longer-term value proposition when paired with steady accumulation trends. If historical patterns repeat, the market may be in the early stages of forming a new uptrend. Coinbase Premium Gap Signals Localized Pressure Despite the on-chain optimism, other indicators suggest reasons for caution. Another CryptoQuant analyst, Abramchart, recently highlighted the Coinbase Premium Gap as a sign of regional bearish sentiment. The gap, which was at -5.07 at the time of reporting, means Bitcoin is trading lower on Coinbase, an exchange largely dominated by US investors, compared to global platforms. This negative gap is often interpreted as an indicator of selling pressure from American participants. Abramchart noted that although the premium had previously recovered, the recent decline aligns with Bitcoin’s failure to push beyond the $97,000 level. Persistent negative values in the premium gap typically signal weak demand in the US market, which could act as a headwind to upward momentum. If the gap continues to trend downward, it may reinforce current price stagnation despite broader accumulation trends. Featured image created with DALL-E, Chart from TradingView

TRON’s native token, TRX, has reflected the broader market’s recent sluggishness, with minimal movement over the past weeks. The token recorded a marginal 0.2% decline over the last seven days and is currently trading at approximately $0.2451, showing a 1.8% decrease in the last 24 hours. Despite this muted price activity, TRON’s network fundamentals suggest underlying stability and continued operational efficiency. Related Reading: Is It Time For Altcoin Season? Bitcoin Dominance Rises To Major Rejection Zone TRON Super Representative Signals Active Governance According to recent insights from CryptoQuant’s research team, TRON’s blockchain infrastructure has consistently produced 99.7% of its expected 28,800 blocks per day, demonstrating strong reliability. This performance contrasts with earlier years, particularly 2020 to 2021, when block production experienced greater volatility. The team attributes this improvement to the effectiveness of TRON’s Super Representative (SR) system and the maturation of its delegated proof-of-stake (DPoS) consensus mechanism. The report further highlights that the number of SRs has remained relatively stable, with 30 different SRs contributing in 2025 so far.  Of these, 24 SRs were responsible for just over 3.7% of total block production. Comparatively, there were 34 active SRs during the same period in 2020, with a similar share of block production.  However, the composition of these SRs has changed significantly. Roughly 68% of the SRs active in 2020 are no longer producing blocks today, replaced by newer participants. This dynamic rotation of block producers reflects decentralization and ongoing community participation in TRON’s governance structure. $1B in USDT Minted as Network Sees Increased Institutional Demand Alongside its stable network performance, TRON recently witnessed a major liquidity event. On May 5, 2025, Tether Treasury minted $1 billion worth of USDT on the TRON blockchain, continuing a pattern of large-scale stablecoin issuance on the network. CryptoQuant analyst Amr Taha emphasized that these mints are not speculative but are backed by verified fiat deposits, typically from large-scale investment funds or over-the-counter (OTC) trading desks. The influx suggests significant institutional interest, with funds likely earmarked for crypto market activity. Related Reading: TRON Accumulation Phase Detected—Major Price Surge Coming Taha explained that TRON’s appeal lies in its cost-effective and fast transaction capabilities. These attributes make it an ideal network for executing large USDT transfers efficiently, especially in use cases like cross-border remittances, high-frequency trading, and arbitrage. The analyst also noted that TRON-based USDT is particularly popular in Asia, where access to traditional financial rails can be limited. As such, the $1 billion mint highlights TRON’s growing role as a hub for global crypto liquidity. Featured image created with DALL-E, Chart from TradingView

Ethereum (ETH) seems to have extended its period of price stagnation, trading at $1,770 at the time of writing. The asset has dropped by 3% over the past week and 1.6% in the past 24 hours, continuing its broader corrective trend after reaching a cycle high of $4,107 in December 2024. Although price movement has been limited, on-chain data suggests that certain underlying shifts could influence market behavior in the near term. Related Reading: Ethereum Breaks Massive Downtrend Price Structure – Momentum Shift? Ethereum Sees Plunge In Spot Volume CryptoQuant analyst Darkfost has reported that Ethereum’s spot volume is experiencing a consistent decline. His analysis focuses on a bubble chart that visualizes two dimensions: the size of each bubble represents spot volume, and its color indicates the volume change rate. According to the data, the bubbles have become progressively smaller and lighter in color, indicating that fewer trades are being conducted and that the pace of decline in volume is slowing. While declining spot volume may traditionally be viewed as a sign of reduced investor interest or weak momentum, Darkfost interprets it differently in the context of a market correction. He suggests that a decline in spot volume during a downtrend can act as a stabilizing force, potentially reducing the likelihood of sharp volatility spikes caused by large sell orders. Lower volume during a corrective phase could mean that sellers are exhausting their positions or stepping aside, creating conditions for price consolidation. This can ease the intensity of downward pressure and potentially pave the way for a more balanced market structure in the short term. However, Darkfost was cautious in his interpretation, noting that cooling volume doesn’t necessarily mean the market has bottomed out. Instead, it could simply mark a temporary pause in volatility before the next move. Long-Term Holders Increase Exposure Despite Unrealized Losses Meanwhile, in a separate update, CryptoQuant analyst Carmelo Alemán explored Ethereum’s long-term holder behavior and revealed that many ETH investors continue to accumulate, even while sitting in unrealized losses. Accumulation addresses, defined as wallets that consistently receive ETH without significant selling, are generally seen as strong hands with longer investment horizons. According to Alemán, March 10 marked a pivotal moment when the average realized price of accumulation addresses fell below ETH’s market price, pushing these wallets into negative territory. Related Reading: Ethereum Holders Stay Committed Despite Unrealized Losses – Signs Of An Incoming Rally? Despite this, the data shows that accumulating addresses have increased their balances by over 22% between March and early May, growing from 15.5 million ETH to 19 million ETH. This behavior reflects strong conviction and suggests that long-term holders believe Ethereum is undervalued at current prices. Historically, such accumulation during downturns has preceded upward price movements, as reduced supply on the market creates favorable conditions for a rally when demand returns. Featured image created with DALL-E, Chart from TradingView

Despite ongoing consolidation across the broader crypto market, Tron (TRX) has managed to maintain a steady upward trajectory. The token has recorded a 2.6% increase over the past two weeks and is currently trading at $0.2495, reflecting a 0.7% uptick in the last 24 hours. This relative strength comes at a time when several major altcoins are experiencing muted price action. Tron’s stability amid broader volatility has drawn the attention of market participants analyzing on-chain dynamics for insight into potential future moves. Related Reading: Tron And Bitcoin: Will A Block Reward Cut Boost TRX Price? Tron On-Chain Trends Suggest Network Consolidation According to a recent analysis by CryptoQuant contributor BorisVest, the Tron network is currently signaling an accumulation phase. In a report titled “Tron Network Signals Accumulation Phase Amid Decreased Activity,” the analyst outlines a number of on-chain indicators that support this conclusion. Most notably, the number of new wallets and transaction fees on the network has declined, pointing to a cooldown in network activity. However, rather than indicating weakness, BorisVest interprets this as a pause in active participation as the network consolidates. BorisVest notes that the Tron network experienced a spike in complex transactions and gas usage during its recent highs. However, both average and maximum gas usage have since fallen, suggesting a slowdown in usage intensity. Additionally, despite occasional price surges, the number of new wallet addresses has remained either flat or in decline. This trend implies limited retail or organic growth during the current market phase. Historically, such patterns of stagnation in user growth and fee activity have often preceded stronger market moves, according to the analyst. The decline in wallet creation and overall gas usage may signal a broader accumulation pattern across the Tron ecosystem. Fewer participants transacting on-chain and a lack of significant new user onboarding typically coincide with phases where existing holders increase their positions quietly. If historical cycles are any indication, this period of reduced activity could eventually give way to renewed momentum once investor confidence returns. USDT Activity Paints a Different Picture In contrast to the slowing activity suggested by wallet creation and gas fees, stablecoin usage on the Tron blockchain continues to show notable growth. CryptoQuant analyst Darkfost highlighted that the amount of Tether (USDT) circulating on Tron has reached a new all-time high, now surpassing $71 billion. This figure places Tron just behind Ethereum, which currently hosts around $75 billion in USDT. The increasing stablecoin supply indicates strong demand for value transfer and settlement use cases on the network. Related Reading: Altcoin Transaction King? TRON Hits 42% Share As USDT, DeFi Explode Darkfost also emphasized that Tron’s low transaction costs make it an attractive platform for stablecoin users. As more liquidity flows into the Tron ecosystem via USDT, the network’s role in decentralized finance (DeFi) continues to expand. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s recent recovery has encountered resistance as the asset remains range-bound between $93,000 and $97,000. After briefly climbing late last month, Bitcoin has struggled to maintain upward momentum since then. At the time of writing, BTC is trading at approximately $94,305, reflecting a modest 1.3% decline over the past day. While price action has slowed, activity on the backend of the market suggests underlying shifts in investor behavior. New on-chain data points to a significant decrease in Bitcoin reserves held on Binance, the world’s largest cryptocurrency exchange by trading volume. Related Reading: Bitcoin ATH Incoming? Analyst Flags Indicators That Preceded Every Major BTC Rally One of CryptoQuant’s contributors, Amr Taha, highlighted the development in a recent QuickTake post, signaling that over 51,000 BTC have been withdrawn from Binance wallets since mid-April. This drop from roughly 595,000 BTC to around 544,500 BTC could indicate a recalibration in investor strategy, with growing interest in long-term holding or redeployment of assets outside centralized platforms. What’s Driving the Bitcoin Outflows from Binance? According to Taha, multiple factors may be contributing to this steep decline in exchange-held reserves. One explanation involves institutional investors and long-term holders moving their Bitcoin into cold storage. This off-exchange behavior is typically interpreted as a signal of longer-term conviction, as these participants seek to secure assets while reducing the likelihood of short-term selling. Given the rise of custodial solutions and more institutional-grade wallets, this trend may reflect maturing market behavior. Another key factor could be the increasing use of Bitcoin within decentralized finance (DeFi) and cross-platform arbitrage strategies. Taha noted that entities may be withdrawing BTC to access yield opportunities or deploy capital in other blockchain ecosystems. Additionally, the recent positive flows into Bitcoin spot exchange-traded funds (ETFs), especially between April 21 and May 1, where daily net inflows crossed the $2 billion mark on several occasions, may have encouraged larger players to accumulate and withdraw Bitcoin in anticipation of further price appreciation. Exchange Reserve Trends Offer Signals Amid Price Consolidation Though Bitcoin’s price has remained largely stagnant over the past week, the shift in exchange reserve data could carry significant implications for future price action. Historically, a decrease in exchange reserves, particularly from major venues like Binance, has been associated with supply tightening. As fewer coins are readily available for sale, reduced liquidity can amplify the impact of incoming demand, especially in bullish phases. Taha emphasized that while short-term market performance may appear indecisive, tracking reserve metrics offers important clues about underlying sentiment. Related Reading: Bitcoin Price Trading Within Dense Supply Cluster — What Lies Beyond $100K? A consistent drawdown of BTC from exchange platforms often sets the stage for renewed price movement, especially when accompanied by institutional accumulation and long-term holding behavior. If these patterns persist, they may contribute to reduced sell-side pressure, enabling Bitcoin to challenge its next resistance zones, including the psychological $100,000 level. Featured image created with DALL-E, Chart from TradingView

Bitcoin continues to extend its recent recovery, gaining over 15% in the past two weeks to reach a market price of $97,559 at the time of writing. This renewed momentum brings the asset closer to the $100,000 psychological level, marking a potential turning point for investor sentiment in the broader crypto market. While short-term price action often generates mixed reactions, some market analysts believe that key long-term indicators may be aligning for a larger move ahead. One of those voices is Bitcoin maxi Robert Breedlove, who shared a series of observations on X about indicators that could point toward a sustained bull run. Related Reading: Bitcoin HODLer Selling Expected Around This Level, Report Says Miner Costs and Long-Term Holder Behavior Point to Market Strength Citing analysis from Blockware, Breedlove pointed to the “industry average” miner cost of production — a model that aggregates various operational metrics such as electricity prices and hardware efficiency. According to this metric, Bitcoin has historically bottomed out when its market price approached or dipped below the average production cost. The model previously aligned with six significant market lows, and Breedlove notes it is flashing a bottom signal once again. In addition to mining economics, Breedlove referenced long-term holder supply data as another crucial input. This metric tracks the amount of Bitcoin that has remained unmoved on-chain for at least 155 days, a proxy for investor conviction and potential supply constraints. Over the past 30 days alone, long-term holders have added approximately 150,000 BTC to their balances. Historically, such accumulation during periods of price consolidation or retracement has preceded upward price movements due to the resulting decrease in sell-side pressure. With Bitcoin trading between $80,000 and $100,000, Breedlove suggests that fewer holders appear willing to exit their positions, potentially reducing available supply at these levels. Rising Liquidity and Macro Trends Add Fuel to Bullish Outlook on Bitcoin Another major factor is global fiat liquidity, which Breedlove highlights as a key demand-side component in Bitcoin’s price dynamics. The analyst points to the role of increasing dollar and international currency liquidity, driven by expanding access to Bitcoin through financial instruments like exchange-traded funds (ETFs), public company treasury holdings, and convertible bond offerings. He argues that greater access to capital and simplified exposure pathways have enhanced Bitcoin’s correlation with broader liquidity trends, increasing the likelihood of upward movement as fiat liquidity rises. Related Reading: Bitcoin Sentiment Nearly Back To Neutral—Green Sign For Rally? Breedlove concluded by reaffirming that Bitcoin’s fundamentals remain unchanged — fixed supply, 10-minute blocks, and predictable halving events — but external factors such as liquidity, regulation, and institutional adoption continue to influence its price action. Lastly, and most importantly, is USD liquidity. This effectively represents the “demand” side of the equation. More dollars in the system means more potential bidders. Bitcoin is highly correlated to fiat liquidity – and that’s becoming increasingly more of the case as ETFs,… pic.twitter.com/i5iE6NzM55 — Robert ₿reedlove (@Breedlove22) May 1, 2025 Featured image created with DALL-E, Chart from TradingView

Bitcoin continues to edge closer to the $100,000 psychological price mark, trading at $96,857 at the time of writing. Although the asset pulled back slightly from a 24-hour high above $97,000, it still recorded a 2.4% increase over the past week, maintaining its broader uptrend. Recent on-chain data points to a growing sense of bullish sentiment in the market. Notably, a sharp increase in the taker buy/sell ratio on Binance suggests that traders are becoming more aggressive in their buying behavior. Some analysts are interpreting this shift as a potential prelude to further upside movement, especially as exchange outflows signal a tightening supply. Related Reading: Traders Rush Into Bitcoin Options as Implied Volatility Drops, Is a Big Move Coming? Bitcoin Taker Buy/Sell Ratio Points to Aggressive Buying Behavior Amr Taha, a contributor to the QuickTake platform by CryptoQuant, highlighted that the taker buy/sell ratio on Binance recently spiked to 1.142—its highest point in recent history. This metric compares the volume of market buy orders (taker buys) to market sell orders (taker sells). A value above 1 indicates that market participants are executing more aggressive buy orders than sell orders, suggesting a growing eagerness to enter the market even at higher price levels. Taha’s analysis also referenced a visual spike on Binance’s order book, signaling a wave of taker buys that reflect immediate interest in BTC accumulation. The timing of this spike coincided with Bitcoin’s recent move above $96,000. At the same time, data from CryptoQuant’s Whales Screener revealed a $200 million BTC outflow from centralized exchanges. This withdrawal likely represents a shift from liquid trading platforms to cold storage, implying reduced selling pressure and heightened confidence among large holders. Futures Traders That Drove October Rally Return In a separate update, another CryptoQuant analyst known as Mignolet pointed to the re-emergence of entities in the futures market that were active during Bitcoin’s sharp rally in October 2023. These futures participants, often institutional or high-frequency traders, played a notable role in driving momentum during that rally. According to Mignolet, similar entities have started showing signs of activity again since late April. Related Reading: North Carolina Passes Bill To Integrate Bitcoin Into $127 Billion Pension Fund The return of these futures players could suggest that leveraged long positions are being reopened in anticipation of another breakout. Combined with the recent net exchange outflows and aggressive spot buying on Binance, this resurgence could provide additional fuel for Bitcoin’s climb toward six-figure territory. Overall, while volatility remains a notable feature of crypto markets, current indicators suggest strong bullish undertones may be building beneath the surface. Featured image created with DALL-E, Chart from TradingView

Could a centuries-old seasonal market pattern be a sign of further losses? Bitcoin’s five-year performance leans toward “yes.”

Ethereum continues its recovery phase, with the asset now trading above $1,800 after gaining approximately 15.3% over the past two weeks. Despite concerns from investors and a drop in public enthusiasm, ETH seems to have shown resilience.. The asset’s latest movement reflects renewed buying interest, and some on-chain indicators are pointing to potentially bullish momentum ahead. One of those indicators involves the supply of ETH on exchanges. Related Reading: Whales Sell 262,000 Ethereum Amid Recent Price Surge – Smart Exit Or Profit-Taking? Declining Exchange Supply Signals Reduced Selling Pressure A recent analysis by Amr Taha, a contributor to CryptoQuant’s QuickTake platform, points to a significant decline in Ethereum’s Exchange Supply Ratio on Binance — a metric that tracks the amount of ETH held on the platform relative to its circulating supply. According to Taha, this ratio has now reached a multi-week low, signaling that more Ethereum is being pulled off Binance, potentially to cold storage or decentralized finance (DeFi) protocols. Taha explains that this decline in the exchange supply ratio historically indicates reduced sell-side pressure, as users often withdraw assets when they plan to hold or deploy them in alternative protocols rather than sell. The development is particularly notable on Binance, which remains the largest crypto exchange by volume and liquidity. As such, changes in its ETH reserves can often reflect broader market sentiment shifts. To illustrate this trend, Taha points to a similar case in April, when a sharp reduction in ETH’s exchange supply on Binance was followed by a price rally from below $1,700 to roughly $1,950, a 14% move within days. The analyst suggests the current pattern may be setting the stage for a similar development, especially given what’s happening on the derivatives side of the market. Ethereum Short Squeeze Setup Emerges Around $1,900–$2,000 Heatmaps tracking liquidations indicate the presence of a growing cluster of short positions between $1,900 and $2,000. According to Taha, this layer of aggressive short interest creates a zone of potential upward price movement if those positions are forced to close in a short squeeze. Particularly, if ETH climbs into that range, the resulting liquidations could amplify upward momentum. In this scenario, the cost to move ETH’s price higher decreases as the available supply on exchanges continues to decline. Related Reading: Ethereum Price Nears Launch Point — Can It Break Free This Time? Taha notes that the combination of falling exchange balances and rising short interest creates favorable conditions for what he describes as a “liquidity hunt” — a situation where price is pushed to trigger liquidations and capitalize on trapped positions. With ETH’s current price momentum and the reduction in sell-side resistance, the $1,900 to $2,000 range is increasingly becoming a focal point. Featured image created with DALL-E, Chart from TradingView

Bitcoin is inching closer to the $100,000 milestone, continuing a steady upward trend that has characterized its recent market behavior. As of the time of writing, the asset is trading at approximately $96,091, marking a 3.6% increase over the past week. This sustained climb follows a correction seen in early April and suggests that the broader market remains engaged, with momentum gradually building. As price action intensifies, analysts are increasingly focused on the indicators shaping short- to mid-term expectations. Among them is CryptoQuant contributor Axel Adler Jr., who recently shared new data indicating that Bitcoin’s on-chain momentum has entered what he calls the “start” rally zone, with a momentum ratio of approximately 0.8. This threshold is considered critical in assessing whether Bitcoin is likely to push higher or enter a period of consolidation. Related Reading: Bitcoin Sentiment Nearly Back To Neutral—Green Sign For Rally? Three Scenarios Shaping the Road Ahead In a QuickTake post titled “Bitcoin is warming up – 3 scenarios that could shape the next rally,” Adler outlined a set of possibilities based on current network data and previous cycle patterns. He describes an “optimistic” case where the momentum ratio climbs above 1.0 and holds, indicating a potential rally toward the $150,000–$175,000 range. This scenario mirrors historical breakout phases observed in 2017 and 2021, where a decisive break in key metrics sparked extended bullish runs. The “base case,” as Adler frames it, assumes that the momentum ratio stabilizes between 0.8 and 1.0, keeping Bitcoin in a broad trading range between $90,000 and $110,000. In this instance, market participants hold their positions but remain cautious about increasing exposure. A more conservative view, the “pessimistic” scenario, would be triggered if the ratio drops toward 0.75. This would suggest that short-term holders may begin taking profits, potentially leading to a correction in the $70,000–$85,000 zone. Adler emphasized, however, that with a recent correction already priced in, the optimistic and base case outcomes appear more plausible at present. Bitcoin Short-Term Holder Activity Signals Accumulation A separate analysis from CryptoQuant analyst Crypto Dan suggests further support for a bullish outlook. Dan notes that Bitcoin’s current structure bears similarities to past accumulation phases observed earlier in 2024. He highlights that in both January and October, rising activity from short-term holders—those who keep their coins for between one day and one week—preceded significant rallies. This behavioral trend has returned in recent days, which, according to Dan, often signals that the market is positioning for a larger move. Related Reading: Traders Rush Into Bitcoin Options as Implied Volatility Drops, Is a Big Move Coming? These patterns have historically emerged just before major surges not only in Bitcoin but also in the altcoin space. If current activity mirrors past cycles, Bitcoin may be preparing to surpass the $100,000 mark and transition into a renewed uptrend. Featured image created with DALL-E, Chart from TradingView

A recent report revealed that over 50% of all crypto tokens have failed in the past five years, with a significant decrease in token survivability over the past year. Related Reading: Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level 50% Of Crypto Tokens Have Collapsed On Wednesday, CoinGecko published a report claiming that over half of the tokens registered in its Decentralized Exchange (DEX) tracker, GeckoTerminal, have died in the past five years. The study examined the total number of crypto tokens once listed in the DEX tracker with one trade or more before going defunct. Since 2021, nearly 7 million tokens have been listed in the real-time tracker, with 3.7 million cryptocurrencies no longer actively traded and considered to have failed. As a result, 52.7% of all examined crypto died, 86.5% failing between 2024 and early 2025. According to the report, 49.7% of all recorded project failures between July 2021 and March 2025 occurred in the first quarter of this year. By March 31, 1.8 million tokens had collapsed, representing the highest number of failures recorded in a single year. In 2024, nearly 1.4 million crypto projects failed, accounting for 37.7% of all collapses during the analyzed period. The number of failing projects has significantly increased from 0.5% in 2021 to 25% in 2025’s first three months. Nonetheless, CoinGecko noted that 2024 has the highest number of launches, seeing over 3 million new projects deployed in the crypto market. Since 2021, the total number of projects has skyrocketed by around 1,550%, going from 428,383 listed projects on GeckoTerminal to nearly 7 million crypto projects. Memecoin Frenzy Responsible For Most Failures? The massive increase in token launches was fueled by the launch of the Solana-based memecoin launchpad Pump.fun, which facilitated the deployment of tokens. The platform’s creation led to a “flood of meme coins and low-effort projects entering the market.” Notably, the start of this cycle’s memecoin frenzy saw the launch of hundreds of PolitiFi tokens, celebrity tokens, and scam tokens, with many reaching market capitalizations of hundreds of millions in record time. The report highlighted that crypto failures were in the low six digits before Pump.fun’s launch, with only 12.6% of all dead tokens between 2021 and 2023. By July 2024, reports revealed most celebrity memecoins had crashed over 90% since launch, with the majority essentially “dead.” Related Reading: Monero (XMR) Price Jumps 50% Amid ‘Suspicious’ $330 Million BTC Transfer – Details Amid the Q1 market retraces, most cryptocurrencies have seen a sharp price decline, with some of the strongest tokens retesting monthly and yearly lows. The recent nosedive in token survivability could be related to the market exhaustion and market turbulence, which coincided with the launch of the official TRUMP and MELANIA memecoins and the LIBRA token scandal. “This sharp decline in token survivability may be linked to broader market turbulence, particularly following Donald Trump’s inauguration in January 2025, which coincided with a downturn in the crypto market,” the report concluded. Featured Image from Unsplash.com, Chart from TradingView.com

Experts said all eyes are on the Federal Reserve and Fed chairman Jerome Powell at May's policy meeting after contradictory U.S. economic reports on Wednesday.

Bitcoin continues its gradual recovery, currently trading above the $94,000 level at the time of writing. This upward trend follows a recent correction that pushed prices down earlier this month. Despite the recent gains, Bitcoin remains about 12.7% below its all-time high set in January. While investors monitor price resistance levels around the psychological $100,000 mark, on-chain metrics are beginning to show significant changes in market behavior that may influence short- and mid-term sentiment. A key development recently highlighted is the rising proportion of the Bitcoin supply that is currently in profit. As the market edges closer to historic euphoria thresholds, some analysts suggest that while this trend may support continued bullish movement, it could also introduce volatility as market participants assess when to lock in gains. The shift in profitability levels is also being evaluated alongside other indicators such as leverage and RSI behavior, which are offering mixed signals. Related Reading: Bitcoin Whales Back In ‘Full Force’ For The Rally, Glassnode Reveals Bitcoin Supply in Profit Nears Euphoria Levels CryptoQuant analyst Darkfost shared a recent outlook on Bitcoin’s on-chain dynamics, emphasizing the behavior of the “supply in profit” metric. According to the analyst, the supply in profit, meaning the percentage of Bitcoin in circulation currently valued higher than its purchase price, has climbed back above 85%. This metric fell to around 75% during the last correction but has now recovered in line with the recent price rebound. Historically, supply in profit levels above 90% have coincided with euphoric phases in past market cycles. While this level has yet to be reached in the current cycle, the upward trajectory suggests it may be approaching. Darkfost noted that such phases often trigger accelerated price rallies, but also tend to precede short- to mid-term pullbacks. The analyst emphasized how far sentiment has shifted from recent lows: It’s also worth noting that during past cycles, the lowest supply in profit levels were around 45–50%, which corresponded to deep bear market conditions. Notably, in this context, monitoring this metric may be important for anticipating potential trend reversals or periods of elevated volatility. Leverage Ratio and RSI Indicate Reduced Market Aggression In a separate post, another CryptoQuant analyst, Crypto Lion, addressed the behavior of the leverage ratio in combination with relative strength index (RSI) data. The analyst referenced a custom metric developed by CryptoQuant that multiplies RSI by an open interest-to-reserve ratio. This approach is designed to assess speculative positioning across the market. Related Reading: Bitcoin Trades At 40% Discount As ‘Triple Put’ Unfolds: Hedge Fund Founder Crypto Lion observed that RSI swings are currently higher than they were during the 2021 summer period, though leverage dynamics suggest that the market is not currently as overheated. According to the post, the market appears to be slowly decoupling from aggressive leverage, potentially signaling a shift toward more organic spot-driven movement. The analyst concluded: I am concerned about what will happen after the next high, whether the original indicator was declining or not, which is not surprising. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s price has rebounded strongly over the past week, recovering from a low of $74,000 earlier this month to now trade above the $95,000 mark. This upward movement represents a 12% gain in the past seven days, signaling a potential shift in short-term market sentiment following a multi-week period of correction and volatility. Despite this upward trajectory, some underlying metrics suggest that investors remain cautious, especially within the derivatives market. Related Reading: Technical Indicators Suggest Bitcoin May Reach $120,000 In Q2, Says Standard Chartered Bitcoin Negative Funding Rates Return Amid Price Rally A CryptoQuant analyst known as ShayanBTC has pointed to a developing divergence between price action and funding rates, particularly on perpetual futures contracts. Funding rates serve as a measure of trader sentiment, showing whether long or short positions dominate. While the price of Bitcoin has climbed, Shayan revealed that recent funding rate behavior suggests that many participants are hedging against potential downside risks or actively reducing exposure at these levels. The divergence raises questions about whether the current rally will sustain or if a short-term retracement is likely before further continuation. Shayan highlighted that Bitcoin’s funding rates have turned negative again, even as the price pushed toward $95,000. This dynamic mirrors a trend observed during the prolonged correction between March and October 2024, when funding rates remained negative during intermittent rallies. Negative funding rates typically indicate a dominance of short positions or hedging behavior among traders in the derivatives market. The analyst suggests that this renewed divergence may reflect a lack of conviction in the rally, with participants preparing for a possible reversal at key resistance levels. Shayan also noted that the current structure shows similarities to previous periods where the market saw a temporary pullback before resuming upward movement. In this context, traders might be reducing risk exposure or engaging in distribution strategies by selling into strength. The presence of cautious positioning at a time of rising prices often signals market imbalance that could trigger a short-term correction. STH-Realized Price and Structural Considerations Meanwhile, BTC’s Short-Term Holder Realized Price (STH-RP) is also a metric worth assessing Bitcoin’s macro trend. The STH-RP reflects the average cost basis of coins held by recent market participants. Related Reading: Record-Breaking Week: Bitcoin Climbs Over $95,000 Amidst $3 Billion ETF Inflows According to on-chain data, sustainable bull markets often maintain price levels above the STH-RP. At present, Bitcoin remains near this threshold, and its ability to hold or break above it could shape near-term momentum. The analysis from Shayan concludes that while a pullback may occur in the short term, the retracements due to the divergence between rising prices and falling funding rates could strengthen the overall market structure if they result in healthier accumulation and shake out weak hands. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s recent upward momentum appears to have slowed after climbing nearly 10% over the past week. Following a move above $95,000, Bitcoin is currently trading at $94,686, reflecting a modest 0.7% gain over the past 24 hours. Although the asset has demonstrated resilience following its recent correction, its latest price action indicates a pause in its upward momentum as market participants reassess near-term direction. So far, analysts have looked into BTC’s spot market activity and key on-chain indicators to determine whether Bitcoin can sustain its broader recovery. New insights from CryptoQuant analysts particularly highlight important developments related to buying and selling behavior on major exchanges, alongside critical metrics that could influence the confirmation of a continued bullish trend. These metrics may provide clues as to whether Bitcoin can maintain its current levels or if additional corrective phases are possible. Related Reading: Bitcoin MVRV At Critical Breakout Point – Is A Price Rally Imminent? Binance Spot Buying Volume Outpaces Selling for the First Time in Six Months According to CryptoQuant analyst Joao Wedson, a significant shift has occurred in Bitcoin’s spot trading activity on Binance. For the first time in six months, the Cumulative Volume Delta (CVD) on Binance spot markets has turned positive, meaning cumulative buying volume is now exceeding selling volume. The CVD measures the accumulated difference between buy and sell volumes, providing insight into the net pressure in the spot market over time. Wedson noted that since Bitcoin’s recent low around $75,000, the Binance Spot CVD has been trending upward, suggesting growing buying interest relative to selling. Historically, Binance’s spot CVD has shown a consistent downtrend since 2021, with limited periods of sustained positive momentum.  Given Binance’s influence as the largest global exchange, the recovery of the CVD metric is being viewed as an important development to gauge risk appetite and broader market sentiment. Bitcoin STH-Realized Price Emerges as a Key Threshold for Bull Run Confirmation In a separate analysis, another CryptoQuant analyst, CryptoMe, emphasized the importance of Bitcoin’s relationship to the Short-Term Holder Realized Price (STH-Realized Price) when evaluating the sustainability of a bull market. The STH-Realized Price represents the average purchase price of coins held by short-term holders, typically considered an important support or resistance level during market cycles. CryptoMe explained that during historical bull runs, Bitcoin tends to maintain its price above the STH-Realized Price. In the current environment, Bitcoin is testing this level, and its ability to decisively break above it could signal a continuation of bullish momentum. Related Reading: Bitcoin Perpetual Swaps Signal Short Bias Amid Price Rebound – Details The analyst advised that as long as Bitcoin remains below the STH-Realized Price, maintaining a hedge in derivatives markets could be a prudent strategy. Conversely, if the price moves above this threshold, closing hedge positions and focusing on spot investments could align with market structure trends. Featured image created with DALL-E, Chart from TradingView

Bitcoin gradual recovery continues, with the asset currently trading at $95,409 after posting a 1.7% gain over the past 24 hours. In the last two weeks, BTC has climbed nearly 15%, recovering steadily from its recent period of correction. While the momentum appears measured compared to past breakouts, the underlying market data suggests that structural shifts are underway that could influence the next major move. So far, several indicators are pointing toward improving sentiment, particularly within the derivatives market, which now dominates Bitcoin’s overall trading volume. Recent observations from analysts highlight a shift in the balance of trading activity, hinting that long positions are regaining strength over shorts. Meanwhile, updated cycle models suggest Bitcoin may still have room to extend its current trend, with structural similarities emerging between the present market and the 2017 cycle. Related Reading: Bitcoin Sees Highest Exchange Outflows In 2 Years, What This Means For Price Bitcoin Net Taker Volume Turns Positive, What Does It Signal? According to CryptoQuant analyst Darkfost, the 30-day moving average of Bitcoin’s Net Taker Volume has returned firmly to positive territory. Net Taker Volume is an indicator that compares the relative size of long and short positions in the derivatives market over a given period. A positive reading indicates that buying pressure (long positions) outweighs selling pressure (short positions), while a negative reading suggests the opposite. Darkfost noted that derivatives markets now account for roughly 90% of total Bitcoin trading volume, surpassing spot and exchange-traded (ETF) volumes. As a result, shifts in derivatives sentiment can often foreshadow broader price movements. The return of the Net Taker Volume into positive territory suggests that speculative participants are positioning for continued upside. This realignment in the derivatives market, if sustained, could act as a catalyst to reinforce Bitcoin’s recent gains and set the stage for further price discovery. Cycle Model Adjustments Point to Uptrend Continuation In a separate analysis, CryptoQuant analyst Mignolet provided insight into Bitcoin’s longer-term trend outlook. Using a refined cycle model based on market capitalization data, Mignolet suggested that traditional cycle indicators have been slow to reflect the latest recovery. Related Reading: Bitcoin Price Sees Short-Term Dip — Bulls Plot Their Next Move To address this lag, adjustments were made to the model’s time series to detect earlier shifts in market behavior. Mignolet observed that what appeared to be a “bear market” zone under traditional models was, in reality, a buying opportunity within an ongoing upward cycle. The current market structure, according to Mignolet, resembles the later stages of the 2017 bull market rather than the early phases of a new downturn. If this parallel holds, Bitcoin could still have significant upside potential before entering a major correction phase. Featured image created with DALL-E, Chart from TradingView

Bitcoin’s recovery continues to show momentum, with the asset currently trading at $94,288 after gaining 1.6% over the past 24 hours. The price has now risen nearly 15% over the past two weeks, reversing a previous correction phase and pushing BTC closer to retesting the $100,000 price mark. Amid the price performance, recent market analysis points to diverging signals between BTC’s funding rate behavior and growing confidence among US-based investors. Related Reading: Bitcoin Whales Back In ‘Full Force’ For The Rally, Glassnode Reveals Bitcoin Funding Rates Drop Despite Rising Prices According to Nino, an analyst from CryptoQuant,  the Bitcoin funding rate—typically used to gauge sentiment in the perpetual futures BTC market has again dipped into negative territory, even as whale accumulation continues on major exchanges like Binance and Coinbase. Nino particularly identified a notable development in Bitcoin’s derivatives market. The 72-hour average of BTC funding rates, including moving average indicators (MA, EMA, WMA), has entered negative territory for the fourth time this year. Funding rates refer to periodic payments made between long and short positions on perpetual futures contracts, with negative rates meaning short positions are paying long positions. This generally reflects that the market is either positioning defensively or becoming cautious at current price levels. What makes this instance notable is that previous dips into negative funding rates occurred at lower price levels, whereas the current shift has taken place above $94,000. Nino suggests this may point to potential market exhaustion or a phase of profit-taking, where short traders are more active despite upward price movement. If volatility increases and funding rates remain suppressed, a spike in liquidations could follow, especially if open interest in leveraged positions expands rapidly. Coinbase Premium and Whale Behavior Reflect US Investor Activity In a separate analysis, CryptoQuant analyst Crypto Dan noted a trend reversal beginning around April 21, accompanied by renewed buying from large holders, or “whales.” Notably, these purchases were first identified on Binance and were soon followed by similar activity on Coinbase. According to Dan, this pattern may indicate rising confidence among US-based investors and growing participation from institutions or high-net-worth individuals. One supporting metric is the Coinbase premium, which tracks the price difference between BTC on Coinbase and other global exchanges. A positive premium typically reflects stronger demand from US investors. Related Reading: Bitcoin Metrics on Binance Show Shift That Could Precede Market Squeeze As of now, this premium remains in positive territory, suggesting that US market participants are contributing to BTC’s recent momentum. Dan concludes that the current phase may signal more than a typical price rebound and could represent a broader shift in market structure, driven by renewed capital inflows and institutional positioning. Featured image created with DALL-E, Chart from TradingView

Ethereum’s price has recently mirrored broader trends in the cryptocurrency market, rising to above $1,800 before retracing as part of a wider market correction. At the time of writing, ETH is trading at $1,754, showing a 3.3% decrease in the past 24 hours, while the total crypto market cap slipped by 3.6% during the same period. Although short-term price movements reflect shifting momentum, on-chain metrics signal deeper changes that may have broader implications for Ethereum’s network health and investor sentiment. Related Reading: Ethereum Adds 12% In 24 Hours – On-Chain Metrics Point To Modest Resistance Ahead Ethereum Long-Term Holders Accumulate as Inflows Hit Multi-Year Highs Recent data from CryptoQuant reveals that long-term Ethereum holders are increasing their activity. These wallets, known for never selling their ETH, have seen one of their highest inflows in recent years. This coincides with rising network activity, including a notable uptick in active addresses and transactional volume. Together, these developments suggest that behind the surface-level volatility, there may be a quiet phase of accumulation and user engagement building within the Ethereum ecosystem. CryptoQuant contributor OnChainSchool reports a significant development among Ethereum’s long-term holding addresses. In the last 48 hours, over 640,000 ETH flowed into wallets that have maintained a strict accumulation pattern without any recorded selling behavior. This marks the largest inflow to such wallets since 2018, suggesting that entities with a long-term outlook are increasing their exposure during the current price range. The behavior of these accumulation-only wallets is often viewed as a proxy for investor conviction, particularly among participants who are not influenced by short-term volatility. According to OnChainSchool, this activity during a period of price drawdown may reflect strategic positioning ahead of potential future developments. It’s also notable that these inflows come at a time when Ethereum fundamentals such as its transition to proof-of-stake, L2 adoption, and evolving staking mechanisms continue to advance. If sustained, this trend could help establish a support zone around current price levels. Network Activity Rises as Active Addresses See Double-Digit Growth Complementing the rise in long-term holder activity is a surge in Ethereum network usage. Another CryptoQuant analyst, Carmelo Alemán, highlights that the number of active Ethereum addresses grew by nearly 10% between April 20 and April 22, jumping from around 306,000 to over 336,000. This metric counts unique wallet addresses that were involved in transactions as either senders or receivers over a given period. While active addresses alone do not capture the full picture, Alemán notes that the metric should be viewed alongside others such as exchange volume, gas fees, transaction count, and Layer 2 activity. Related Reading: 77K Ethereum Moved to Derivatives—Is Another Price Crash Looming? The rise in address activity, especially when paired with a simultaneous price increase, is often taken as a sign of broader user engagement and growing application-layer demand. Featured image created with DALL-E, Chart from TradingView

Bitcoin has reclaimed significant ground after a steep correction earlier this month, now trading above $93,000. The cryptocurrency is currently priced at $94,014, reflecting a 5% increase over the past 24 hours and more than 20% in gains over the last two weeks. This price level marks a renewed effort to recover from the recent drop that saw BTC reach as low as $74,000, placing attention on both market sentiment and underlying network behavior. With renewed interest in Bitcoin following last year’s Halving event, a CryptoQuant analyst has revealed interesting insights on BTC’s mining dynamics. Related Reading: Bitcoin Rockets To Monthly Highs As Open Interest Explodes By Over $3 Billion Post-Halving Emission Rates Deviate From Theoretical Output CryptoQuant contributor Carmelo Alemán has presented new insights into Bitcoin’s block issuance and total daily mining output, revealing a gap between theoretical assumptions and real-world data. His observations suggest that while Bitcoin’s block schedule is largely predictable, on-chain measurements may provide a more accurate view of post-Halving supply behavior. According to Bitcoin’s protocol, one block is expected to be mined every 10 minutes. Following the April Halving last year, the reward for each block was reduced from 6.25 BTC to 3.125 BTC. This would imply that approximately 144 blocks are produced daily, leading to an estimated 450 BTC entering circulation each day (3.125 BTC × 144 blocks). However, Alemán’s analysis indicates that the actual number of newly mined coins is often lower than this theoretical estimate. By using the “Bitcoin: Total Supply” metric from CryptoQuant with daily resolution, Alemán examined the actual change in circulating supply and found discrepancies between the expected output and on-chain reality. These variances may result from slower-than-average block times, network difficulty adjustments, or temporary congestion within the mining ecosystem. While the Bitcoin protocol maintains a ten-minute block target, real-world mining activity does not always align with that schedule precisely on a daily basis. Bitcoin On-Chain Metrics Offer Real-Time Supply Monitoring The significance of Alemán’s findings lies in their implication for how Bitcoin supply is tracked and understood by investors, miners, and analysts. Instead of relying solely on theoretical projections based on protocol rules, on-chain metrics provide a view of actual blockchain activity. These insights can help refine market models, particularly during transitional periods such as post-halving adjustments. The halving event, which reduced the block reward by 50%, is designed to limit Bitcoin’s inflation rate and enforce its fixed supply cap. However, Alemán’s data suggests that monitoring total supply growth through blockchain records offers a more granular understanding of how much BTC is entering circulation on a day-to-day basis. This can influence market supply-demand calculations and even miner profitability estimates. Featured image created with DALL-E, Chart from TradingView