Bitcoin is Up 20% - What is Driving the Rally?
Bitcoin rose 20%, yet US spot premium is negative and open interest in BTC dropped 8.7%.
A five-day-a-week Bitcoin podcast covering on-chain data, ETF flows, derivatives, macro risk and market structure for active investors.
Adler AM is a Bitcoin podcast for investors who want a clear daily read on market structure, on-chain data, ETF flows, derivatives positioning and macro risk. Each episode turns the latest Bitcoin market signals into a short audio brief before the trading day starts.
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Bitcoin rose 20%, yet US spot premium is negative and open interest in BTC dropped 8.7%.
Bitcoin Regime Score hit Strong Bull (60) at $69.5K. The turn started Aug 17, before a $1.42B short squeeze amplified the breakout.
Net Taker Volume stays positive while Bitcoin open interest declines - buy-side demand without leverage. Watch for a break above $66.8K.
Bitcoin holds 1.30x the LTH cost basis in the Low Risk zone. Supply near ATH with minimal spending shows no distribution. Watch a $74K reclaim.
STH MVRV at 0.94 and SOPR near 0.996 show Bitcoin short-term holders underwater, not capitulating. Watch $59.3K support, a SOPR reclaim of 1.0.
Bitcoin UTXOs in Profit sit near local lows at 53%, while 30-day transfer volume has jumped 23% from its April low, above its yearly average.
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Adler AM: Bitcoin Morning Brief is the audio edition of Adler AM - a concise, repeatable, signal-first take on Bitcoin market structure, on-chain data, ETF flows, derivatives, and macro risk without altcoin noise.
The show is built around the same framework that powers the charts and written analysis: on-chain valuation, ETF and flow data, derivatives positioning, macro pressure, and the signals that matter most at the start of the trading day. Each episode is short enough to fit into a morning routine but specific enough to be useful for investors who already think in scenarios and regimes.
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