After the short squeeze, Bitcoin's derivatives market did not recover its previous level of leverage: since August 21, price has remained higher while BTC-denominated open interest has
Outflows from miner wallets have increased significantly after several months of subdued activity. In late August, the MPI remained above zero for a third consecutive day for the first time
Over the past ten days, two profit-and-loss metrics have reversed in tandem as Bitcoin recovered to $78K. The 90-day realized profit-to-loss ratio returned above 1,
Two flow metrics improved in tandem during the second half of August. Net capital flows returned to positive territory for the first time in almost three months, while 30-day
After the pullback, Bitcoin reclaimed the key short-term holder cost basis, while the technical pricing models chart shows price breaking above two of the three major moving averages on
Bitcoin rose 22% in eight days, climbing from $63K to $77K. During this period, the share of STH supply in profit increased to 74%, while the indicator tracking STH flows
BTC has gained 20%, but two indicators - the US spot premium and open interest - do not yet confirm that the move was driven by strong US demand and the addition
After a prolonged period of flat trading, the Bitcoin Regime Score rose into Strong Bull, while a large cascade of short liquidations sharply accelerated the price move. The two charts
Aggressive buying once again dominates, while open interest is shrinking at the same time. This is an important combination: buy-side initiative has strengthened, but it is not yet accompanied
Bitcoin continues to trade only modestly above the long-term holder cost basis, while the frequency of declines in their supply has fallen close to a minimum. The two charts
Short-term holders remain underwater relative to their entry price, but realized losses are minimal. Two views - position status (MVRV) and behavior (SOPR) - point to pressure without signs of capitulation.
The market shows an unusual combination: the share of holders in profit remains in the lower part of its multi-year range, while on-chain activity has already recovered noticeably.
