#Bitcoin saw growth in both its on-chain fundamentals and price across Week 41, with increased adoption and BTC finding support above $11k for the first time since August.

Read about this week’s developments in the latest Week On-Chain.

Read more | #TheWeekOnChain

#Bitcoin accumulation has been on a constant upwards trend for months.

2.6M $BTC (14% of supply) are currently held in accumulation addresses.

Accumulation addresses are defined as addresses that have at least 2 incoming transactions and have never spent funds. Exchange addresses and (miner) addresses receiving from Coinbase transactions are excluded.

Live chart | @glassnode

#OKEx has reportedly suspended all cryptocurrency withdrawals from the exchange.

Our data confirms that there have been no outgoing #BTC or #ETH transfers since 4:00 UTC today.

Live chart | @glassnode

According to our data, around 200,000 BTC (1.1% of the circulating #bitcoin supply) are currently held in #OKEx wallets.

That is around $2.3 billion worth of bitcoins stored in the exchange's vaults.

Live chart | @glassnode

Prior to the suspension of cryptocurrency withdrawals from #OKEx, we observed large BTC outflows from the exchange.

According to our data, a total of 10,000 BTC (~$113 million USD) were withdrawn in two large batches in the past 48 hours.

#Bitcoin

Live chart | @glassnode

Open interest on #Binance increased by $150 million in the past 48 hours (+30%) and is currently sitting at $637 million.

#Bitcoin

Live chart | @glassnode

$ETH Realized Price hits an 21-month high and is now at $246 – a level not seen since January 2019.

It has increased by 21% within the past six months.

Realized Price is the average price of each ETH at the time it last moved on-chain.

#Ethereum

Live chart | @glassnode

The number of #Bitcoin millionaire addresses (addresses holding ≥ $1M worth of $BTC) crossed 20,000.

It is the highest value since January 2018.

Live chart | @glassnode

#Bitcoin saw some impressive gains over Week 43, surpassing $13,000. On-chain fundamentals remain strong, and $BTC appears to be deviating from traditional financial market trends.

Read more in the latest Week On-Chain.

Read more | #TheWeekOnChain

#Bitcoin investor sentiment: Net Unrealized Profit/Loss (NUPL) has been in the "Belief" zone for the past week.

Currently, over 50% of the $BTC market cap consists of unrealized profits – a level not seen since August 2019.

Live chart | @glassnode

The percentage of #Bitcoin miner revenue from fees increased to 22.25% in the past hour (24h MA).

It is the highest observed value since January 2018.

Live chart | @glassnode

The #Bitcoin Fee Ratio Multiple (FRM) is at its lowest level since Jan 2018.

FRM is linked to demand and caused by higher fees.

A low value means increased network security, especially as block rewards decrease over time.

Live chart | @glassnode

In Week 44, $BTC continued gaining momentum, ending the week up by over 5%. But despite these gains, a drop in on-chain fundamentals may prevent #Bitcoin from decoupling from traditional markets.

Read more in the latest Week On-Chain.

Read more | #TheWeekOnChain

Over the past couple of days Bitcoin's hash rate has seen a significant decrease, occasionally falling below 100 exahash per second – values not since since June.

Tomorrow's mining difficulty adjustment is therefore estimated to be around -16%.

#Bitcoin

Live chart | @glassnode

We just observed the 2nd largest negative #Bitcoin mining difficulty adjustment in history: -16%

It topped the -15.9% change in March this year.

The only other time difficulty saw a larger downwards adjustment (-18%) was over 9 years ago, in Oct 2011.

Live chart | @glassnode

#Bitcoin Hodler Net Position Change has been negative for the past week.

It indicates the monthly position change of long-term investors according to BTC's Liveliness.

It is the first time we see this since March, and the lowest it has been since Aug 2019.

Live chart | @glassnode

#Bitcoin Short-Term Holder MVRV has been holding its positive ratio for the past six months – and bounced off the neutral line yet another time.

Historically, holding this support level is indicative for an ongoing $BTC bull market.

Live chart | @glassnode

$BTC has continued its impressive streak, hitting $15k over the past week and showing few signs of slowing down.

On-chain metrics suggest that #Bitcoin has more room to grow before reaching the next top.

Read more | #TheWeekOnChain

Never before in #Bitcoin's history have there been more addresses active as a sender (7d MA).

Live chart | @glassnode

Current #Bitcoin open interest levels on major exchanges.

Live chart | @glassnode

$BTC saw continued gains throughout Week 46, rising above $16k for the first time since January 2018.

Meanwhile, #Ethereum looks poised to launch the first stage of ETH2.0 before the end of 2020.

Read more | #TheWeekOnChain