The #Bitcoin market has many hallmarks of a deep capitulation and a late stage bear market in play.
Both Long-Term Holders, and Miners are under extreme financial stress. However,is it enough to form a resilient bottom?
Read more in The Week Onchain
Both Long-Term Holders, and Miners are under extreme financial stress. However,is it enough to form a resilient bottom?
Read more in The Week Onchain
The Week On-chain #28 Video Report is Live.
In this session, we study the structure of the 2022 #Bitcoin bear market, and compare it to the Nov 2018 capitulation phase.
This includes an assessment of the pressure on Miners and #BTC Long-Term Holders.
Watch The Week Onchain #28 Report
In this session, we study the structure of the 2022 #Bitcoin bear market, and compare it to the Nov 2018 capitulation phase.
This includes an assessment of the pressure on Miners and #BTC Long-Term Holders.
Watch The Week Onchain #28 Report
YouTube
The Week Onchain: Pressure Builds on Diamond Hands - Week 28, 2022 (Bitcoin On-chain Analysis)
As many signals suggest a widespread capitulation has taken place, attention turns to whether a Bitcoin bottom is forming. Here, we analyse the characteristics and duration of previous bears, to assess what may lie on the road ahead.
📊 Metric of the Week:…
📊 Metric of the Week:…
#Ethereum markets have rallied strongly off the back of a large short squeeze in futures markets.
Over $98M in short futures positions were liquidated in one hour, pushing $ETH prices up by 12.5%.
Live Chart
Over $98M in short futures positions were liquidated in one hour, pushing $ETH prices up by 12.5%.
Live Chart
Over 80% of the total USD denominated wealth invested in #Bitcoin has been HODLed for at least 3-months.
This signifies that the majority of the $BTC coin supply is dormant, and HODLers are increasingly unwilling to spend at lower prices.
Live Chart
This signifies that the majority of the $BTC coin supply is dormant, and HODLers are increasingly unwilling to spend at lower prices.
Live Chart
2022 has seen #Bitcoin markets weather two enormous capitulation events, both with the largest $BTC transfer volume in loss since 2011.
When LUNA collapsed, the total transfer volume in loss was 538k $BTC.
This was followed by 480k $BTC as the market traded below the 2017 ATH.
Live Chart
When LUNA collapsed, the total transfer volume in loss was 538k $BTC.
This was followed by 480k $BTC as the market traded below the 2017 ATH.
Live Chart
#Bitcoin is testing the underside of the Realized Price, which has historically been associated with bear market bottoms.
With two deep, and historically large capitulation events in May-June, could a genuine bottom now be forming?
The Week On-chain Newsletter is also now available in a live dashboard format.
We include ideas for🔔Alerts to set, with the goal of helping you identify the changing tides of this #Bitcoin bear market.
Read our analysis in The Week Onchain and Live Dashboard
With two deep, and historically large capitulation events in May-June, could a genuine bottom now be forming?
The Week On-chain Newsletter is also now available in a live dashboard format.
We include ideas for🔔Alerts to set, with the goal of helping you identify the changing tides of this #Bitcoin bear market.
Read our analysis in The Week Onchain and Live Dashboard
#Bitcoin is currently in the process of breaking above three long-term pricing models:
- Realized Price (average cost basis)
- Long-Term Holder RP (Cost basis of LTHs)
- 200-week Moving Average
Read more on #Bitcoin bottom formation in The Week On-chain Newsletter
- Realized Price (average cost basis)
- Long-Term Holder RP (Cost basis of LTHs)
- 200-week Moving Average
Read more on #Bitcoin bottom formation in The Week On-chain Newsletter
Our latest video analysis is now live, exploring the market structure, and bottom formation characteristics for #Bitcoin.
We assess the deep capitulation by forced sellers, recovering profitability, and pricing models that describe bear market lows.
Watch The Week On-chain Video Report
We assess the deep capitulation by forced sellers, recovering profitability, and pricing models that describe bear market lows.
Watch The Week On-chain Video Report
YouTube
The Week On-chain - Is Bitcoin Building a Bottom? - Week 29, 2022 (Bitcoin Onchain Analysis)
Bitcoin prices have now traded below the Realized Price for over a month, with many signals that a deep and complete capitulation has occurred. As a result, numerous signals indicate that genuine bottom formation could be underway.
📊 Metric of the Week:…
📊 Metric of the Week:…
#Bitcoin Lightning Network capacity in public channels continues to push to new highs, despite prevailing bear market headwinds.
Total capacity is now at 4,290 $BTC, which has increased by 34.6% since the November market peak.
Live Chart
Total capacity is now at 4,290 $BTC, which has increased by 34.6% since the November market peak.
Live Chart
#Bitcoin has attempted to escape the gravity of the $20k zone in a long awaited relief rally.
Momentum in the short term is favorable, however longer-term indicators suggest additional time may be required to form a firm foundation.
Read our analysis in The Week On-chain
Momentum in the short term is favorable, however longer-term indicators suggest additional time may be required to form a firm foundation.
Read our analysis in The Week On-chain
The latest Week Onchain video report is now live.
We analyse the market considering
- Recent large statistical deviations from the 'mean'
- Evidence of capitulation
- Short-to-Long Term momentum indicators
Watch our latest video analysis report
We analyse the market considering
- Recent large statistical deviations from the 'mean'
- Evidence of capitulation
- Short-to-Long Term momentum indicators
Watch our latest video analysis report
YouTube
The Week On-chain: Conviction Through Confluence - Week 30, 2022 (Bitcoin Onchain Analysis)
After a month of consolidation around the $20k zone, Bitcoin prices have experienced a long awaited relief rally. Short-term Momentum is favourable, however remains weighed down by longer-term macro indicators, suggesting time may still be required to form…
We are extremely pleased to release a new State of the Market report in collaboration with CoinMarketCap.
In this first edition, we explore the 2022 bear so far, and how on-chain market structure has evolved for #Bitcoin, #Ethereum, and Stablecoins. We analyse
- Evolving market fundamentals and structural changes during the 2022 bear cycle.
- Risk-off sentiment, the deleveraging of DeFi, and shifting dominance of stablecoins.
- Network profitability of Bitcoin and Ethereum.
- Realized price, realized losses and how it compares to previous bear markets.
- Stress developing in the Bitcoin and Ethereum mining industries.
Read the Report and view the Live Dashboard
In this first edition, we explore the 2022 bear so far, and how on-chain market structure has evolved for #Bitcoin, #Ethereum, and Stablecoins. We analyse
- Evolving market fundamentals and structural changes during the 2022 bear cycle.
- Risk-off sentiment, the deleveraging of DeFi, and shifting dominance of stablecoins.
- Network profitability of Bitcoin and Ethereum.
- Realized price, realized losses and how it compares to previous bear markets.
- Stress developing in the Bitcoin and Ethereum mining industries.
Read the Report and view the Live Dashboard
We have just released a video analysis to support our State of the Market report with @CoinMarketCap.
We explore:
- Evolving structure of the bear
- Risk-off sentiment in onchain metrics
- $BTC and $ETH Realized prices
- Stress in the mining industry
Watch our video analysis.
We explore:
- Evolving structure of the bear
- Risk-off sentiment in onchain metrics
- $BTC and $ETH Realized prices
- Stress in the mining industry
Watch our video analysis.
YouTube
State of the Bear Market: Special Report (Bitcoin and Ethereum Onchain Analysis)
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📰 Written Report: https://glassno.de/cmcgn_01
🪟 Live Dashboard: https://glassno.de/3JdyWsl
The performance of the digital asset market…
📰 Written Report: https://glassno.de/cmcgn_01
🪟 Live Dashboard: https://glassno.de/3JdyWsl
The performance of the digital asset market…
#Bitcoin and #Ethereum have rallied strongly off the bottom, reaching above the Realized Price.
Attention now turns to whether this is a bear market rally, or whether the fundamentals are following through in support.
Read more in The Week On-chain
Attention now turns to whether this is a bear market rally, or whether the fundamentals are following through in support.
Read more in The Week On-chain
The Week On-chain video report is live for Week 31.
In this edition, we assess if this is likely to be a bear market rally for #Bitcoin and #Ethereum, or whether there is follow through in on-chain fundamentals.
Watch our latest video report.
In this edition, we assess if this is likely to be a bear market rally for #Bitcoin and #Ethereum, or whether there is follow through in on-chain fundamentals.
Watch our latest video report.
YouTube
The Week On-chain: Beginnings of a Bear Market Rally? - Week 31 2022 (Bitcoin and Ethereum Analysis)
Both BTC and ETH have rallied, coming off extremely oversold conditions, and spurred on by risk-on sentiment following the July FOMC meeting. Attention now turns to whether it is a bear market relief rally, or the start of a sustained bullish impulse.
💸…
💸…
#Bitcoin investors continue to realized a larger magnitude of losses vs profits on spent coins.
🟥Realized Losses = $319M/day
🟩Realized Profit = $226M/day
This is typical of bear markets, and a reversal is often associated with a pick up in demand.
Live Chart
We also explore the concept of Realized Profit and Loss for #Bitcoin in this On-chain 101 Guide video.
Here we explore how to use investor profit and losses to track #Bitcoin cycles, sentiment, and inflection points between bull and bear market structure.
Watch our video guide on Realized Profits and Loss
🟥Realized Losses = $319M/day
🟩Realized Profit = $226M/day
This is typical of bear markets, and a reversal is often associated with a pick up in demand.
Live Chart
We also explore the concept of Realized Profit and Loss for #Bitcoin in this On-chain 101 Guide video.
Here we explore how to use investor profit and losses to track #Bitcoin cycles, sentiment, and inflection points between bull and bear market structure.
Watch our video guide on Realized Profits and Loss
With the #Bitcoin market now back above the Long-Term Holder Realized Price, the question turns to whether they are taking exit liquidity.
In out latest Market Pulse, we explore the current behaviour of LTHs, who have distributed 222k $BTC since May.
Read more in The Market Pulse
In out latest Market Pulse, we explore the current behaviour of LTHs, who have distributed 222k $BTC since May.
Read more in The Market Pulse
As #Bitcoin and #Ethereum derivatives markets mature, increasingly sophisticated trade positions can be established.
This week, we investigate aggregate market positioning around the #Ethereum Merge, and whether the market expects a 'sell-the-news' event
Read out latest analysis in The Week On-chain
This week, we investigate aggregate market positioning around the #Ethereum Merge, and whether the market expects a 'sell-the-news' event
Read out latest analysis in The Week On-chain
With the #Ethereum Merge scheduled for mid September, derivatives traders have bet big on a market rally using Call options
However, futures markets and October Put demand demand suggests an expectation to sell the news.
Watch more in our latest video analysis.
However, futures markets and October Put demand demand suggests an expectation to sell the news.
Watch more in our latest video analysis.
YouTube
The Week On-chain: Is the Ethereum Merge a Sell the News Event? - Week 32, 2022 (BTC + ETH Analysis)
As Bitcoin and Ethereum derivative markets mature, sophisticated trade positions can be established using both options and futures. The Ethereum Merge presents an opportunity to observe market positioning at a large scale.
💸 LIMITED OFFER: 1-Month Free on…
💸 LIMITED OFFER: 1-Month Free on…
After a dramatic capitulation event, the ownership structure of #Bitcoin has been reshaped.
As markets sell-off, $BTC migrates from weaker hands, to those stepping in at the lows. Here, we explore how to track this migration of coins using age bands.
Read More in The Week On-chain
As markets sell-off, $BTC migrates from weaker hands, to those stepping in at the lows. Here, we explore how to track this migration of coins using age bands.
Read More in The Week On-chain
#Bitcoin markets experienced a brief wave of relief, with prices trading above the Realized Price.
However, weakness in underlying network activity has manifested as a sell-off this week, as prices fall back below the $21.7k level.
Read our analysis in The Week On-chain
However, weakness in underlying network activity has manifested as a sell-off this week, as prices fall back below the $21.7k level.
Read our analysis in The Week On-chain
Glassnode Insights - On-Chain Market Intelligence
A Bear Market Mirage
The Bitcoin market recently experienced a wave of short relief, with prices trading above the Realized Price for 23 consecutive days. However, weakness in the underlying network activity has manifested as a sell-off this week, with prices falling once again…