#Bitcoin Short-Term Holders currently own 54.5% of all coins held at an unrealized loss (2.56M $BTC, creating sell-side headwinds for price.

Read our full analysis in The Week On-chain

With over 33% of $BTC supply held at an unrealized loss, and a large portion held by Short-Term Holders, #Bitcoin bulls are faced with numerous headwinds.

Watch our latest video report where we deep dive into the supply side risks observable on-chain.

#Bitcoin Realized Cap HODL Waves show the maturation of supply, related to its 'stored USD value'.

During past bears, 6-12mth supply peaked approx. half-way through the bear cycle.

We are now 90-days past the 6m-12m peak, with supply now maturing into the 1yr+ age band.

Live Chart

Part 1 of the #Bitcoin Bear Market Survival Guide is now available.

JoIn us to explore how we apply T1 and T2 on-chain metrics to navigate bearish market trends.

Watch our analysis here

#Bitcoin top buyers have largely capitulated, with holders of young coins selling heavily over the last week.

In this edition, we perform a deep dive into coin distribution and what it tells us about the HODLer base

Read our analysis in The Week On-chain

Our latest video analysis is live, where we analyse the underlying #Bitcoin on-chain fundamentals supporting this rally.

A divergence between Short-Term and Long-Term Holder behaviour has been increasingly evident in recent weeks.

Watch our deep dive here.

The second instalment of the #Bitcoin Survival Guide is now live, where we cover the concept of #Bitcoin Floor models.

There is no single answer to a Bear Market bottom, which is why analysts seek confluence across numerous on-chain metrics.

Watch our video analysis here.

#Bitcoin continues to consolidate around the $38k level as the bulls attempt to put in a price floor.

In this edition, we analyse inflows to exchanges, with a particular focus on whether $BTC holders are fearful.

Read our analysis in The Week On-chain

The #Bitcoin bulls are working hard to create a price floor, whilst the bears continue to apply sell-side pressure.

As #Bitcoin consolidates in a delicate equilibrium, we deep dive into $BTC flows into exchanges to gauge the characteristics of sellers.

Watch our Video Analysis here.

Tracking on-chain #Bitcoin accumulation can be complex and nuanced to accurately analyse.

We are pleased to release the #Bitcoin Accumulation Trend Score, a metric designed to track when larger players or a large part of the market is accumulating.

The Accumulation Trend Score trades between values of 0 and 1 with the following interpretation:

1 = Whales and/or large parts of the market are accumulating.
0 = Macro distribution by the market.

This metric is calculated by combining wallet participation in different cohorts, with balance change to assess buy-side pressure.

Out methodology and example interpretation is available on Glassnode Academy.

See the Accumulation Trend Score on studio.

The ETH 2.0 deposit contract has hit 10M $ETH staked.

According to our data, at least 66% of these funds were deposited by exchanges and staking services, rather than individual stakers.

The largest deposited volume comes from Lido (22%), Coinbase is runner up with 15%.

Total ETH Staked Live Chart

To support the release of the #Bitcoin Accumulation Trend Score, we have just released a video metric guide.

In this session, we take you through the history of #Bitcoin accumulation, as it happened, on-chain.

Check out our Video Guide and the Live Metric

Over 82% of #Bitcoin Short-Term Holder supply is held at a loss, suggesting the potential energy for capitulation is in play.

The bulls however continue to stack sats, at an incredible rate of 7.6x $BTC issuance to miners.

Read more in The Week Onchain

The Week Onchain Video Report #11 is live.

We analyse:
- Short-Term softening of accumulation
- Near All-time-Lows of young $BTC supply
- Long-Term Holder trends and conviction
- The potential risk of a capitulation event

Watch our video report now

#Bitcoin has traded into a narrow price range for over 2 months, as more traders move risk neutral cash-and-carry positions.

But derivatives markets are now pricing in a high volatility move just over the horizon.

Read our analysis in The Week On-chain

Over the course of this #Bitcoin drawdown, buying pressure has been mainly during US and EU trading hours.

Meanwhile, the majority of sell-side pressure has occurred during Asian market hours, suggesting a divergence in regional strategy.

Read more in The Week On-chain

#Bitcoin prices have now consolidated between $38k and $45k for over 2-months, and a large volume of $BTC has changed hands.

This chart shows:
🟥 Newer buyers (Short-Term Holders) have accumulated heavily in this range.
🟦 Many Long-Term Holders are holding coins at a loss.

#Bitcoin has been driven back above $44k by combined short squeeze, and strong underlying accumulation fundamentals.

We explore these dynamics in our latest video report

The next major on-chain resistance for #Bitcoin is the Short-Term Holder Realized Price, trading at $45.9k.

This metric is the average price paid for $BTC by investors who purchased after the October ATH.

Bearish resistance comes from STHs seeking to 'get their money back'.

#Bitcoin has now broken out of the consolidation range it has been within for over 2-months.

In this edition, we analyse the underlying fundamental strength which supports this rally, and assess whether #Bitcoin is on the road to recovery.

Read more in The Week On-chain

The latest #Bitcoin Week On-chain video report is live, detailing the characteristics of the $BTC rally to $48k.

We analyse both the accumulation support provided by the bulls, as well as the sell-side headwinds by the bears.

Watch our latest Video Report for Week 13.