CryptoQuant

Bitcoin Rebounds with Positive Momentum Bitcoin may have found a local bottom last week as large sellers exhausted their selling power. Significant selling from the German government (50K Bitcoin) and Mt. Gox creditors (95K Bitcoin) led to sellers realizing $2.5 billion in losses, indicating selling exhaustion. Prices also bounced as traders’ unrealized profit margins improved from -17% to -5.7%, the most negative since the FTX collapse in November 2022. Valuation metrics, including the Profit & Loss Index and Bull-Bear Market cycle indicator, suggest positive momentum ahead. However, stablecoin liquidity growth remains insufficient for a sustained rally, with USDT’s market cap growth near zero. For all the details see our latest dashboard: https://lnkd.in/e3fw_kh2 #cryptoquant #bitcoin #btc

Pivotal Point: Positive and Negative Conditions For Bitcoin to Bottom-out Our latest analysis reveals key indicators at a critical juncture for Bitcoin. With the price recently dipping to a four-month low of around $53K, significant losses have been observed among both new and large investors. This is coupled with the most negative unrealized profit margins since the FTX collapse in November 2022—factors that might signal a nearing price bottom. Conversely, Bitcoin whales have ramped up their holdings, growing at the fastest monthly rate since April 2023, suggesting an uptick in demand. Yet, despite these positive signs, overall valuation metrics and a stagnant stablecoin liquidity indicate Bitcoin could still face further decline. The market is at a pivotal point. Will the current conditions lead to recovery, or are we heading towards a deeper correction? See more insights in our Bitcoin Holding Behavior dashboard: https://lnkd.in/dYtDvZF6 #cryptoquant #btc #bitcoin

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Is the Bottom Near? Unpacking Signs of Bitcoin Miner Capitulation The Bitcoin network is signaling potential miner capitulation: • Hashrate Decline: Post-halving, the network hashrate dropped by 7.7%, marking the sharpest fall since the FTX collapse in December 2022. • Economic Pressure on Miners: With falling Bitcoin prices and reduced block rewards, miners are earning significantly less. The decline in transaction fees is compounding this issue. • Increased Bitcoin Outflows: Miners are moving Bitcoin from their wallets in larger volumes than seen since May 21, suggesting possible sales. Major mining firms are now using their reserves for yield generation or as a hedge. • Low Mining Revenue: The average revenue per hash remains near its lowest levels. These signs historically hint at a market bottom. Could this be a turning point for Bitcoin? Explore our Bitcoin Miner dashboard for all the details: https://lnkd.in/dTYCUrAZ #cryptoquant #bitcoin #btc #bitcoinminers

This week’s Crypto Weekly Report is out for Professional Plan users! • Bitcoin at a one-month low • Critical on-chain signals analyzed • Potential for a market rally? Access the full insights and stay ahead of the curve: https://lnkd.in/gqasgZdN #btc #bitcoin #cryptoquant

We’re thrilled to announce our new collaboration with TRON DAO; we’ve successfully integrated TRON network data into CryptoQuant! This integration unlocks unprecedented opportunities for our users to gain a deep understanding of the TRON network. Whether you’re refining your digital asset strategy or exploring blockchain analytics, our insights are tailored to enhance your decision-making processes. Start exploring today and see how this data can transform your approach: https://lnkd.in/dZxYVWnS

I'm excited to share that I've recently updated my Bitcoin dashboard! Now featuring 34 comprehensive charts displaying a variety of on-chain metrics and indicators. This dashboard is designed to provide researchers and investors with maximum insight into the activity occurring on the Bitcoin blockchain. Bitcoin on-chain analysis involves examining data recorded on the Bitcoin blockchain to gain a deeper understanding of the network's health, activity, and trends. By analyzing this public ledger, we can uncover valuable patterns and behaviors of Bitcoin users, miners, and other key players within the ecosystem. CryptoQuant is your gateway to valuable insights, featuring comprehensive charts to help you make informed investment decisions in the digital asset class. Data fuels modern financial products and services, and without comprehensive, granular, and unbiased digital asset data, financial professionals wouldn't be able to generate alpha, mitigate risk, or develop robust trading strategies. My dashboard addresses these needs by offering detailed on-chain data that helps answer critical questions and supports various use cases in the Bitcoin market. ⛓ Link: https://lnkd.in/ekE8FbmR

Bitcoin at Key Levels: Downside Seems Limited, But the Market Lacks Bullish Momentum Bitcoin continues to trade around the $66-$70K range and is now near the key level of $65.8K, the trader’s On-chain realized price. This metric can act as price support or signal an 8%-12% correction if the price crosses to the downside. If this happens, the price could decline towards $60K. While the downside seems limited, demand indicators have yet to show bullish momentum: • Traders are still not increasing their Bitcoin holdings, and large holders’ (whales) demand growth is still missing strength. • Stablecoin liquidity has continued to slow down, growing at the slowest pace since November 2023. • Demand from US investors has yet to make a comeback for Bitcoin and Ethereum after the Q1 2024 frenzy. Overall, CryptoQuant’s Bull-Bear Market Cycle indicator is still signaling we remain in a bull market but without much upward momentum. See our Bitcoin Holding Behavior dashboard for more insights: https://lnkd.in/dk6Eczne #cryptoquant #btc #bitcoin

Under Pressure: Miner Selling Emerges as Bitcoin Prices Hover at $70K Significant movements were noted on June 9th, with a substantial transfer of Bitcoin from mining pools to exchanges, marking a two-month peak. This uptick in activity is mirrored by a spike in selling through OTC desks, reaching volumes not seen since late March. Major U.S.-based mining firms are also adjusting their holdings, part of a broader response to the post-halving decrease in mining revenues. The combination of lower transaction fees and a persistently high network hashrate is applying financial pressures, as miners compete for reduced block rewards. Historical trends suggest that prolonged periods of low miner revenues and high hashrate typically signal potential price bottoms. Since May, miners have faced extremely low compensation, with a recent shift to just fair payment levels. See our Bitcoin Miner dashboard for all the live data: https://lnkd.in/dTYCUrAZ #cryptoquant #btc #bitcoin #bitcoinmining

The Demand Side of the Equation: Bitcoin and Ethereum’s Path Into Acceleration Mode Bitcoin demand growth conditions continue to improve, laying the groundwork for a sustainable price rally. Recent developments include: - Significant growth in the total balances of permanent holders and large investors. - $1B in daily inflows from new large Bitcoin investors. - Increased purchases of Bitcoin via spot ETFs in the USA. This comes as heavy selling by traders has subsided, with their unrealized profit ratio resetting to 0%. On the Ethereum front, demand has spiked since May 20, driven by the approval of spot ETH ETFs in the USA. This has led to accelerated purchasing by both permanent ETH holders and large investors. However, a full-scale rally is still contingent on the recovery of stablecoin liquidity, which remains below expected growth trajectories. See our dashboard for more: https://lnkd.in/gHZ_UZr8 #btc #bitcoin #eth #ethereum #cryptoquant