Glassnode

#Bitcoin has now broken out of the consolidation range it has been within for over 2-months. In this edition, we analyse the underlying fundamental strength which supports this rally, and assess whether #Bitcoin is the the road to recovery. Read more in The Week On-chain

The next major on-chain resistance for #Bitcoin is the Short-Term Holder Realized Price, trading at $45.9k. This metric is the average price paid for $BTC by investors who purchased after the October ATH. Bearish resistance comes from STHs seeking to 'get their money back'.

#Bitcoin has been driven back above $44k by combined short squeeze, and strong underlying accumulation fundamentals. We explore these dynamics in our latest video report

#Bitcoin prices have now consolidated between $38k and $45k for over 2-months, and a large volume of $BTC has changed hands. This chart shows: 🟥 Newer buyers (Short-Term Holders) have accumulated heavily in this range. 🟦 Many Long-Term Holders are holding coins at a loss.

Over the course of this #Bitcoin drawdown, buying pressure has been mainly during US and EU trading hours. Meanwhile, the majority of sell-side pressure has occurred during Asian market hours, suggesting a divergence in regional strategy. Read more in The Week On-chain

#Bitcoin has traded into a narrow price range for over 2 months, as more traders move risk neutral cash-and-carry positions. But derivatives markets are now pricing in a high volatility move just over the horizon. Read our analysis in The Week On-chain

The Week Onchain Video Report #11 is live. We analyse: - Short-Term softening of accumulation - Near All-time-Lows of young $BTC supply - Long-Term Holder trends and conviction - The potential risk of a capitulation event Watch our video report now

Over 82% of #Bitcoin Short-Term Holder supply is held at a loss, suggesting the potential energy for capitulation is in play. The bulls however continue to stack sats, at an incredible rate of 7.6x $BTC issuance to miners. Read more in The Week Onchain

To support the release of the #Bitcoin Accumulation Trend Score, we have just released a video metric guide. In this session, we take you through the history of #Bitcoin accumulation, as it happened, on-chain. Check out our Video Guide and the Live Metric

The ETH 2.0 deposit contract has hit 10M $ETH staked. According to our data, at least 66% of these funds were deposited by exchanges and staking services, rather than individual stakers. The largest deposited volume comes from Lido (22%), Coinbase is runner up with 15%. Total ETH Staked Live Chart

Tracking on-chain #Bitcoin accumulation can be complex and nuanced to accurately analyse. We are pleased to release the #Bitcoin Accumulation Trend Score, a metric designed to track when larger players or a large part of the market is accumulating. The Accumulation Trend Score trades between values of 0 and 1 with the following interpretation: 1 = Whales and/or large parts of the market are accumulating. 0 = Macro distribution by the market. This metric is calculated by combining wallet participation in different cohorts, with balance change to assess buy-side pressure. Out methodology and example interpretation is available on Glassnode Academy. See the Accumulation Trend Score on studio.

The #Bitcoin bulls are working hard to create a price floor, whilst the bears continue to apply sell-side pressure. As #Bitcoin consolidates in a delicate equilibrium, we deep dive into $BTC flows into exchanges to gauge the characteristics of sellers. Watch our Video Analysis here.

#Bitcoin continues to consolidate around the $38k level as the bulls attempt to put in a price floor. In this edition, we analyse inflows to exchanges, with a particular focus on whether $BTC holders are fearful. Read our analysis in The Week On-chain

The second instalment of the #Bitcoin Survival Guide is now live, where we cover the concept of #Bitcoin Floor models. There is no single answer to a Bear Market bottom, which is why analysts seek confluence across numerous on-chain metrics. Watch our video analysis here.

Our latest video analysis is live, where we analyse the underlying #Bitcoin on-chain fundamentals supporting this rally. A divergence between Short-Term and Long-Term Holder behaviour has been increasingly evident in recent weeks. Watch our deep dive here.

#Bitcoin top buyers have largely capitulated, with holders of young coins selling heavily over the last week. In this edition, we perform a deep dive into coin distribution and what it tells us about the HODLer base Read our analysis in The Week On-chain

Part 1 of the #Bitcoin Bear Market Survival Guide is now available. JoIn us to explore how we apply T1 and T2 on-chain metrics to navigate bearish market trends. Watch our analysis here

#Bitcoin Realized Cap HODL Waves show the maturation of supply, related to its 'stored USD value'. During past bears, 6-12mth supply peaked approx. half-way through the bear cycle. We are now 90-days past the 6m-12m peak, with supply now maturing into the 1yr+ age band. Live Chart

With over 33% of $BTC supply held at an unrealized loss, and a large portion held by Short-Term Holders, #Bitcoin bulls are faced with numerous headwinds. Watch our latest video report where we deep dive into the supply side risks observable on-chain.

#Bitcoin Short-Term Holders currently own 54.5% of all coins held at an unrealized loss (2.56M $BTC, creating sell-side headwinds for price. Read our full analysis in The Week On-chain