Yields Brake Growth, BTC Basis Dropped to Zero
UST10Y shows local growth, Bitcoin basis has dropped to zero.
Data-driven insights into Bitcoin’s market structure, flows, and macro drivers. Updated 5× per week.
UST10Y shows local growth, Bitcoin basis has dropped to zero.
ETFs show outflows of -$250M per day, but new investors continue entering - the divergence signals redistribution of coins from large holders to retail.
The composite risk oscillator remains one step away from a risk-off signal, while STH-SOPR confirms unprofitable selling.
Profit/loss and local stress indicators simultaneously point to market tension, but price remains above $100K.
Short-term holders continue selling at a loss but the volume of unprofitable sales has decreased.
Long-term holders have sold 810K BTC since July, further growth requires completion of the current distribution wave.
The Fed cut rates and completed its quantitative tightening program, against this backdrop Bitcoin declined to local support levels.
The Fed is in an easing phase, today's meeting expected to cut rates by 25 bp, Bitcoin testing support at $112.3K amid volatility surge to 54%. TL;
Bull-Bear Structure Index rose above zero for the first time since October 12 -market dynamics and sentiment have synchronously turned bullish. TL;DR Technical reversal confirmed: both indicators in positive
Progress in US-China dialogue reduced demand for safe-haven assets, gold testing $4.07K, the first cryptocurrency holding key levels ahead of central bank decisions. TL;DR Bitcoin consolidating near $115K
Bitcoin volatility remains elevated but progress toward deceleration has emerged following the spike.
Over the past 24 hours, volatility has surged to 95%, with liquidations occurring in both directions on the derivatives market.