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.
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Futures sentiment reversed sharply over 3 days, but Bitcoin price structure only reached neutral. No confirmed regime change yet.
Bitcoin trades $1K above 1.25x Realized Price after a 44.8% drawdown. Holding this zone keeps recovery open. Break below targets $54-58K.
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.
Positioning SMA-30d flipped to -3.1 as shorts dominate futures. Long liquidations rising to 18.6%. Key trigger: SMA-30d back above zero.
Bitcoin Net Realized P/L 7DMA deepens to -$410M as STH SOPR holds below 1.0 for 9 days. Short-term capital under stress. Watch for return above neutral.
68% of BTC supply held by dolphins, whales and fish. Spending transactions at 532K vs SMA-30D 473K - network activity holds above trend.
Short-term BTC-S&P correlation broke down, but Bitcoin keeps underperforming equities. Here's what the price ratio reveals about the real risk regime.
STH Realized Price sits at $85,831 vs BTC at $66,946. YoY turned negative for first time since 2022. SOPR below 1.0 for 110+ days.
Learn what Bitcoin Exchange Reserve measures, how it is calculated, how to interpret rising and falling reserve levels, and how to use it with netflows, SOPR, and MVRV in cycle analysis
Bitcoin realized price map reveals three key levels: ETF resistance at $80K, whale decision zone at $68K, and deep structural support at $47K.
Bitcoin Net Realized PnL hits cycle lows while Supply Active 30D Change compresses. Selling exhaustion signal - watch for PnL 7DMA reversal.
ETF flows turned positive after February's capitulation, but the cohort stays underwater. Realized Price at $79,962 is the key resistance to watch.