Shorts Wiped Out at $526M, OI Cools After Local Peak
April 17 wiped $526M in shorts. OI peaked at 319K BTC and is now contracting - squeeze complete, cooldown underway.
5 min read
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LTH Accumulated +3.06M BTC Over 3 Months, but Part of Long-Term Holders Started Selling at a Loss
LTH Realized Supply surged from 5.26M to 8.32M BTC in 3 months. But LTH SOPR fell below 1.0 - watch the March low at 0.798 as the key level.
5 min read
Capital Leaving for 98 Days Straight: Recovery Impossible Without a Reversal
Realized Cap dropped 3.23% since Jan 2026. Growth Rate 365DMA negative all 105 days. Outflow slowing in April - reversal signal to watch.
5 min read
Market Structure Improving, but P/L Sentiment Still Weak
Bull-Bear Structure Index returns above baseline while P/L sentiment stays negative. Recovery phase confirmed - full bull regime not yet.
4 min read
BTC Tests ETF Cost Basis: Price Approaches $74,232
Bitcoin ETF Realized Price hits $74,232 - the break-even level for ETF holders. STH Cost Basis at $83,734 remains key resistance to watch.
4 min read
Leverage Flushed: Open Interest and Negative Funding Signal a Positioning Shift
BTC futures OI dropped from +8.9% to -7.2% in two weeks. Funding flipped negative across Binance, Bybit and OKX. Spot holds above $70K.
5 min read
Exchange Outflow Normalized, ETF Flows Recovered After the Drop
Exchange Netflow SMA-7D rebounded from -15,216 BTC to near zero. ETF flows recovered to +1,835 BTC after the April 7 drop.
5 min read
Seller Pressure Has Eased, but There Is Still No Confirmation of a Reversal
Net Taker Volume is back above zero and liquidation pressure has eased, but Bitcoin still lacks confirmation of a full market reversal.
5 min read
Derivative Demand Has Returned, but Bitcoin's Structure Is Still Weak
Futures sentiment reversed sharply over 3 days, but Bitcoin price structure only reached neutral. No confirmed regime change yet.
5 min read
BTC Drawdown 44.8%: Price Approaches Key Support Zone Above the Market's Average Cost Basis
Bitcoin trades $1K above 1.25x Realized Price after a 44.8% drawdown. Holding this zone keeps recovery open. Break below targets $54-58K.
5 min read
The Market Is Trying to Turn, but Funding Rate Remains Negative
Bitcoin Regime Score returns to positive territory (+14.1) after two weeks of bearish phase, but funding drops to -0.43%. Two signals, one question.
5 min read
Bitcoin Under Pressure: Shorts Dominate, Long Leverage Contracts
Positioning SMA-30d flipped to -3.1 as shorts dominate futures. Long liquidations rising to 18.6%. Key trigger: SMA-30d back above zero.
4 min read