Deep Bitcoin on-chain analysis: supply dynamics, holder behavior, exchange flows, and key indicators. Actionable BTC insights from Adler AM.
Stablecoin net flow has stayed negative for 35 days while BTC exchange flows sit neutral near $65K. No buying fuel.
New investor realized cap sits near yearly lows and STH SOPR holds below 1.0. Early stabilization; watch for SOPR reclaiming 1.0 to confirm.
Bitcoin LTH supply hit a record 16.34M BTC, with 371K absorbed in 30 days, while CDD 30D stays low at 313M. Scarcity is building, demand is not.
Bitcoin Adjusted NUPL is near -0.13, underwater for six weeks. STH, LTH and aggregate converge; a sustained move above zero confirms a turn.
Bitcoin STH realized pressure flips to buyers at the lows while price holds the $61.6K cohort floor. Watch a reclaim of $71K to confirm.
Stablecoin exchange inflows sit 31% below the yearly norm and USDT+USDC market cap is shrinking $3B/month. No fuel for BTC until flows reverse.
Net UTXO Supply Ratio flashed its first BUY since November 2022, but Supply in Loss says the Bitcoin bottom isn't confirmed until SMA90 hits 50%.
Bitcoin exchange inflows are 50% above February while SOPR stays below 1.0, signaling heavier supply pressure and realized losses.
Bitcoin LTH MVRV fell to 1.24, near a yearly low, as price nears the $48.4K cost basis. Record 16M BTC supply signals holding, not capitulation.
Bitcoin Net Realized P/L stays negative a 5th month, but holder realized prices hold support at $48K-$56K. Watch this band for the next move.
STH realized cap drawdown hit -56% while aNUPL turned negative; LTH capital held near base. Pain is concentrated, not full cycle capitulation.
Bitcoin sales pressure stays silent for 1256 days as LTH realized supply matures toward 15M. Not a capitulation bottom - watch NUPL turning negative.
