Deep Bitcoin on-chain analysis: supply dynamics, holder behavior, exchange flows, and key indicators. Actionable BTC insights from Adler AM.
Dormancy Flow divides market cap by annualized dormancy to find cycle bottoms. Learn the <250K buy zone threshold, formula, and how to confirm signals with MVRV and NUPL
Price structure holds in the lower zone of the Donchian channel, confirming the bearish regime. The Bull-Bear Structure Index is slightly recovering on the back of exchange outflows - the divergence of signals requires price confirmation before changing position.
Liveliness peaked after the price ATH and began declining - a signal of transition from distribution to accumulation. The question is not whether the bear cycle has started, but how deep and how long it will be.
Master Bitcoin's age-weighted metrics. Learn how CDD tracks old coin movement and Liveliness reveals accumulation vs distribution phases. Complete guide with formulas, historical examples, and trading applications.
Short-term holders are realizing profits for the first time in a week - seller pressure is easing. However, MVRV remains deeply below the norm, and the durability of the reversal has yet to be confirmed.
Realized Price ($54.9K) is under threat as Bitcoin slides. LTH Cost Basis rises while Realized Price falls, compressing support into a $43K-$51K corridor.
SSR Oscillator is negative again after January's attempted recovery. USDT liquidity outflows confirm: the rebound has failed.
Realized losses on the Bitcoin network have reached Luna 2022 crash levels, however the price context is fundamentally different - the current sell-off is occurring at $67K, not $19K, which changes the interpretation of the signal.
Bitcoin miner capitulation signals: difficulty -14%, Puell Multiple 30DMA <0.8, Cango sold 4,451 BTC. Hashrate drops, exchange flows stay stable.
The bear market ongoing since November 2025 has entered a deep phase after Friday's crash with a -46% drawdown. Price has approached the 1.25x Realized Price Band, which historically served as the boundary between correction and capitulation.
On-chain and derivatives are signaling capitulation in sync: STH are realizing extreme losses, while long liquidation dominance has reached the 2026 high. Historically, such extremes have formed local bottoms.
Short-term holders are realizing losses and sitting on average 25% below their cost basis.
