Defx Insights

Tag: On-chain Metrics

  • Bitcoin On-Chain Metrics Signal $110K Push as Accumulation Soars

    Bitcoin’s price has resumed its upward trajectory, gaining 1.6% in the last 24 hours to reach $107,428, as multiple on-chain indicators suggest renewed accumulation behavior could drive prices toward the $110,000 level. This analysis comes as major institutions continue accumulating BTC near all-time highs.

    Key On-Chain Metrics Point to Continued Bullish Momentum

    According to CryptoQuant analyst Amr Taha’s latest research, several critical metrics are aligning to signal potential further upside for Bitcoin. The Binance Taker Buy/Sell Ratio has climbed to 1.1, indicating stronger buyer conviction in the market. When this metric exceeds 1.0, it historically precedes sustained price increases, particularly when supported by rising volumes.

    The analysis gains further credibility when viewed alongside recent data showing long-term holder behavior reaching new milestones. The Long-Term Holder (LTH) Realized Cap has surpassed $56 billion, demonstrating increased conviction among veteran investors.

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    Stablecoin Flows Signal Institutional Interest

    Perhaps most notably, over $550 million in stablecoins have flowed into Binance in recent hours, suggesting significant buying power waiting to enter the market. This development comes as technical indicators point to an imminent breakout from the current range.

    Market Outlook and Key Levels to Watch

    While BTC currently trades approximately 4.2% below its recent all-time high of $111,000, the confluence of positive on-chain metrics suggests the market may be preparing for another leg higher. The Buy/Sell Pressure Delta’s position at 0.02 – halfway to its historical peak – indicates room for further upside before any potential market overheating.

    Frequently Asked Questions

    What is the Binance Taker Buy/Sell Ratio indicating?

    The current ratio of 1.1 suggests more traders are willing to pay market price to buy rather than sell, historically a bullish signal when accompanied by strong volume.

    How significant is the $550M stablecoin inflow?

    This level of stablecoin inflow to spot exchanges typically indicates institutional positioning for direct asset purchases rather than derivatives trading.

    What’s the significance of the current LTH Realized Cap?

    The $56 billion figure represents a substantial portion of Bitcoin supply held by investors who haven’t moved their coins in over 155 days, suggesting strong holder conviction.

  • Bitcoin Network Activity Surges 241K Despite $105K Price Stagnation

    Bitcoin Network Activity Surges 241K Despite $105K Price Stagnation

    Bitcoin’s network metrics are showing remarkable strength even as the price consolidates around $105,000, with on-chain data revealing significant spikes in both circulation and new address creation. This surge in activity could signal growing adoption despite the recent price rejection at $106,000.

    Key Network Metrics Hit Multi-Month Highs

    According to data from analytics firm Santiment, Bitcoin’s network has experienced a notable uptick in activity over the past week, with two critical metrics reaching significant milestones:

    • Circulation: Hit 241,360 coins – highest level since December
    • Network Growth: 556,830 new addresses created in a single day

    Understanding Bitcoin’s Circulation Metric

    The Circulation metric provides unique insights into Bitcoin’s organic activity by tracking distinct coins involved in daily transactions. Unlike traditional volume metrics, Circulation only counts each coin once per day, regardless of how many times it changes hands. This approach offers a clearer picture of genuine network usage versus potential wash trading or artificial volume inflation.

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    Network Growth Signals Potential Adoption Wave

    The creation of 556,830 new Bitcoin addresses represents a significant milestone in network growth. While some new addresses may be attributed to existing users managing their holdings, the scale of this increase suggests genuine new user adoption. This growth comes at a crucial time as Bitcoin continues testing support around the $105,000 level.

    Market Implications and Technical Outlook

    Despite Bitcoin’s price consolidation near $105,000, the surge in network activity could be a bullish indicator. Historically, increased network participation has often preceded significant price movements, as noted in our recent coverage of Bitcoin’s unprecedented bull cycle pattern.

    FAQ: Bitcoin Network Activity

    What does increased Bitcoin circulation mean?

    Higher circulation indicates more unique coins being actively used in transactions, suggesting increased economic activity on the network.

    Why is network growth important?

    Network growth through new address creation often correlates with broader adoption and can be a leading indicator for price movement.

    How does this compare to previous cycles?

    Current network metrics are showing stronger organic growth compared to previous cycles, suggesting more sustainable adoption patterns.

    Conclusion

    While Bitcoin’s price remains range-bound near $105,000, the substantial increase in network activity metrics provides encouraging signs for the cryptocurrency’s fundamental strength. The combination of high circulation and robust network growth suggests continued adoption despite short-term price consolidation.

  • Bitcoin Hashrate Hits ATH as $100K Price Level Shows Strength

    Bitcoin Hashrate Hits ATH as $100K Price Level Shows Strength

    Bitcoin continues to demonstrate remarkable strength in 2025, maintaining its position above $100,000 for an unprecedented 23-day streak while simultaneously achieving new network security milestones. Recent analysis shows weakening selling pressure with strong support at $112K, suggesting this bull run may have staying power.

    Record-Breaking Network Metrics

    The Bitcoin network’s computing power (hashrate) has reached its highest level of 2025, marking a significant milestone for the cryptocurrency’s security and resilience. This development comes as particularly noteworthy given the recent price stability above the psychological $100,000 barrier.

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    On-Chain Activity Shows Mixed Signals

    Despite the positive price action and network strength, several on-chain metrics have shown signs of decline, suggesting a potential divergence between market performance and network usage. This pattern often emerges during market transitions and requires careful monitoring.

    FAQ: Bitcoin Network Performance

    What does the record hashrate mean for Bitcoin?

    The increased hashrate indicates stronger network security and growing miner confidence in Bitcoin’s long-term value proposition.

    Is the $100K price level sustainable?

    While the 23-day streak above $100K is impressive, investors should monitor on-chain metrics for confirmation of sustainable price levels.

    How do declining on-chain metrics affect Bitcoin’s outlook?

    Reduced on-chain activity could signal a temporary cooling period, though historical patterns suggest this may be temporary during strong bull markets.

  • Bitcoin Selling Pressure Weakens: BTC Inflows Signal Strong $112K Support

    Bitcoin (BTC) continues to demonstrate resilience near its recent all-time high of $111,980, with on-chain metrics suggesting minimal selling pressure despite the elevated price levels. Recent analysis of macro triggers provides additional context for Bitcoin’s current consolidation phase.

    Exchange Flow Analysis Reveals Bullish Signals

    According to CryptoQuant analyst Darkfost’s latest research, both short-term holders (STHs) and long-term holders (LTHs) are showing remarkable restraint in their selling behavior. The data reveals significantly lower inflows to Binance compared to previous market peaks:

    • Current STH inflows: 8,000 BTC
    • August 2024 correction: 12,000 BTC
    • March 2025 panic: 14,000 BTC

    Long-Term Holder Behavior Signals Confidence

    LTH metrics paint an even more bullish picture:

    • Current LTH deposits: 86 BTC
    • 2024 market peak: 626 BTC
    • Previous cycle top: 254 BTC

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    Technical Support Levels to Watch

    While the overall trend remains bullish, traders should monitor key support levels:

    • Primary support: $106,800
    • Secondary support: $103,500
    • Major resistance: $112,000

    Market Indicators Point to Continued Strength

    Several factors suggest the rally may have room to run:

    • Low retail participation compared to previous cycles
    • Increasing exchange withdrawals
    • Elevated unrealized profits without panic selling
    • Strong institutional demand

    FAQ Section

    What is causing the low selling pressure in Bitcoin?

    The combination of strong institutional demand, strategic holder behavior, and positive market sentiment has reduced selling pressure despite high prices.

    Could Bitcoin see a sharp correction soon?

    While the $106,800 support level remains crucial, current metrics suggest limited downside risk barring unexpected macro events.

    What role are institutions playing in the current rally?

    Institutional investors continue to accumulate Bitcoin through spot ETFs and direct purchases, providing steady buying pressure.

  • Bitcoin UTXO Profitability Hits 99%: Warning Sign or Bullish Setup?

    Bitcoin’s meteoric rise toward $112,000 has triggered a remarkable on-chain signal – 99% of all Bitcoin UTXOs are now in profit. This historically significant threshold comes as BTC tests its all-time high amid growing institutional demand, raising questions about whether we’re entering a period of euphoria or setting up for the next leg higher.

    The UTXO profitability metric, which measures the percentage of Bitcoin’s unspent transaction outputs in profit, has reached levels typically associated with market tops. However, this time may be different as institutional accumulation continues to drive a deepening supply crisis.

    Understanding the UTXO Profit Signal

    UTXOs represent the fundamental accounting structure of Bitcoin, tracking every unspent coin on the network. When 99% of these UTXOs are profitable, it means nearly all Bitcoin holders are sitting on unrealized gains – a situation that historically precedes significant market moves in either direction.

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    Technical Analysis and Market Structure

    Bitcoin currently trades at $109,679, consolidating below resistance while maintaining strong technical support levels:

    • Key Support: $107,000-$108,000 zone
    • Critical Resistance: $110,200-$112,000 range
    • Moving Averages: All aligned bullishly on 4H timeframe

    Expert Insights and Market Implications

    Top analyst Darkfost warns that while the trend remains bullish, the 99% UTXO profit level demands caution from late buyers. This aligns with recent institutional behavior, as major players continue accumulating despite elevated prices.

    FAQ: Bitcoin UTXO Profitability

    Q: What does 99% UTXO profitability mean?
    A: It indicates that 99% of all Bitcoin holdings are currently worth more than when they were last moved.

    Q: Is this a reliable sell signal?
    A: Historically it can precede corrections, but institutional adoption may change traditional patterns.

    Q: How does this compare to previous cycles?
    A: This is the highest sustained UTXO profitability since the 2021 bull run.

    Conclusion and Outlook

    While the 99% UTXO profit signal traditionally suggests caution, the current market structure, supported by institutional adoption and supply dynamics, may support continued upside. Traders should monitor key support levels while maintaining appropriate position sizing given elevated profit levels.

  • Ethereum Price Faces $2,800 Resistance as Cost Basis Data Shows Selling Pressure

    Ethereum Price Faces $2,800 Resistance as Cost Basis Data Shows Selling Pressure

    The Ethereum (ETH) price continues to face significant resistance around $2,800, with new on-chain data revealing why the second-largest cryptocurrency struggles to maintain momentum above $2,700. Recent analysis from blockchain intelligence firm Glassnode provides crucial insights into the current price dynamics.

    Key Takeaways:

    • Ethereum price repeatedly rejected above $2,700
    • Cost Basis Distribution (CBD) metric shows heavy investor concentration at $2,800
    • Next major support level identified at $2,380

    This analysis comes as Bitcoin and Ethereum correlation reaches record lows, suggesting unique market dynamics are affecting ETH’s price action.

    Understanding the $2,800 Resistance

    Glassnode’s analysis reveals a significant cluster of investor cost basis distribution around the $2,800 level. This concentration indicates many investors acquired their ETH positions in this price range, creating a natural resistance level as these holders look to break even on their investments.

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    Technical Analysis and Support Levels

    According to prominent crypto analyst Ali Martinez, if the current resistance persists, ETH could find its next major support level around $2,380. This aligns with previous technical analysis showing key support zones.

    FAQ: Ethereum Price Action

    Why can’t Ethereum break above $2,800?

    The concentration of investor positions at this level creates natural selling pressure as previously underwater investors seek to exit at breakeven.

    What needs to happen for ETH to break resistance?

    Buy-side pressure must significantly outweigh the selling pressure from existing holders looking to exit their positions.

    Where is the next support level?

    Technical analysis indicates $2,380 as the next major support level if current prices fail to hold.

    Market Outlook

    While the immediate price action appears constrained, the broader market context suggests potential for upward movement if buying pressure can overcome the current resistance zone. Traders should monitor the Cost Basis Distribution metric for changes in investor behavior patterns.

  • Bitcoin Long-Term Holders Show Resilience at $100K: Key Metrics Signal Strength

    As Bitcoin maintains its position above the historic $100,000 mark, on-chain data reveals fascinating insights into long-term holder behavior. Recent analysis of key metrics has indicated potential profit-taking, but the broader picture suggests a remarkably resilient market structure.

    Understanding Current Market Dynamics

    The Spent Output Profit Ratio (SOPR) shows increased profit realization, particularly following Bitcoin’s surge from $74,000 to new highs. However, this profit-taking appears measured and healthy, characteristic of mid-cycle behavior rather than market tops.

    Long-Term Holder Supply Analysis

    Despite some distribution, the Long-Term Holder Supply metric continues its upward trajectory. Over 70% of Bitcoin’s supply remains in wallets older than six months, indicating strong conviction among experienced investors. This aligns with broader market projections targeting $200,000 for Bitcoin in 2025.

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    HODL Waves and Market Implications

    The HODL Waves analysis reveals a subtle shift in holder composition, with newer entrants gradually transitioning into long-term holders. This organic market maturation suggests sustainable growth rather than speculative excess.

    Future Outlook and Market Sentiment

    Current data indicates we’re still in a structurally sound phase of the bull market. While some profit-taking is occurring, it’s happening at a sustainable pace that historically precedes further upside potential.

    FAQ Section

    Are we seeing signs of a market top?

    No, current metrics suggest healthy mid-cycle behavior rather than exhaustion typically seen at market peaks.

    What percentage of Bitcoin is held by long-term investors?

    Over 70% of Bitcoin’s supply is currently held in wallets older than six months.

    Is the current profit-taking concerning?

    No, the current level of profit-taking appears sustainable and typical for this stage of a bull market.

  • Ethereum Addresses in Profit Surge 90% as ETH Tests $2,700 Resistance

    Ethereum Addresses in Profit Surge 90% as ETH Tests $2,700 Resistance

    Ethereum’s market dynamics are showing remarkable signs of recovery, with the percentage of profitable addresses nearly doubling since April’s lows. As Bitcoin’s recent all-time high signals a potential altcoin season, ETH’s price action at $2,500 suggests a critical turning point for the second-largest cryptocurrency.

    Key Highlights of Ethereum’s Recovery

    • ETH addresses in profit increased from 32% to nearly 60% since April
    • Price holding steady above $2,500 despite previous 60% correction
    • Testing critical resistance at $2,700 (200-day SMA)
    • Volume indicators showing renewed buyer interest

    On-Chain Metrics Signal Strong Recovery

    According to data from Sentora (formerly IntoTheBlock), Ethereum has demonstrated remarkable resilience following its December 2024 correction. The percentage of addresses in profit has surged from a concerning low of 32% in April 2025 to nearly 60% currently, marking the strongest recovery since the 2017 bull cycle.

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    Technical Analysis: Critical Price Levels

    ETH is currently testing a crucial resistance level at $2,700, coinciding with the 200-day simple moving average. The asset has shown strong support at $2,444 (200-day EMA), creating a solid foundation for potential upward movement. A successful break above $2,700 could trigger a rally toward the $3,000 psychological level.

    Market Implications and Future Outlook

    With Bitcoin reaching new all-time highs, Ethereum’s current position suggests it could lead the next phase of altcoin market growth. The combination of improving on-chain metrics and technical indicators points to growing momentum that could catalyze a broader market rally.

    FAQ

    What is causing the increase in profitable Ethereum addresses?

    The surge in profitable addresses is primarily driven by ETH’s price recovery from April lows, combined with increased institutional interest and improving market sentiment.

    Will Ethereum break above the $2,700 resistance?

    Technical indicators and market momentum suggest a breakout is possible, but bulls must maintain support above $2,600 to confirm the upward trend.

    How does this recovery compare to previous cycles?

    The current recovery pattern shows similarities to the 2017 bull cycle, particularly in terms of address profitability and volatility metrics.

  • Bitcoin Price Shows Strong Momentum: Unrealized Profits Hit 10.7% Without Sell-Off

    Bitcoin Price Shows Strong Momentum: Unrealized Profits Hit 10.7% Without Sell-Off

    Bitcoin’s recent 22.5% surge over the past month has raised questions about potential market exhaustion, but on-chain indicators suggest more upside potential remains. Despite elevated unrealized profits, key metrics show no signs of widespread selling pressure that typically precedes major corrections.

    Understanding Current Market Dynamics

    According to CryptoQuant analysis, new Bitcoin investors (holding less than one month) are sitting on 6.9% unrealized profits, while short-term holders (less than six months) show 10.7% gains. This profit distribution pattern differs significantly from previous cycle peaks.

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    Key Market Indicators

    • New investors’ unrealized profit: 6.9%
    • Short-term holders’ profit: 10.7%
    • Current BTC price: $106,528
    • 24-hour change: +1.8%

    Expert Analysis and Price Targets

    Crypto analyst Ali Martinez projects a potential new all-time high around $111,500, citing recent bullish breakout patterns. This aligns with broader market sentiment targeting the $120,000 level.

    Retail Participation Growing

    Small wallet addresses (holding under $10,000 in BTC) show increasing accumulation, indicating growing retail participation without the typical FOMO behavior seen at market tops.

    Risk Factors to Consider

    • Subdued Demand Momentum indicators
    • Limited supply scarcity impact
    • Potential macro market volatility

    FAQ Section

    Is Bitcoin showing signs of a market top?

    Current data suggests balanced profit distribution without the extreme concentration typically seen at market peaks.

    What’s driving the current Bitcoin rally?

    A combination of institutional inflows, retail participation, and strong market fundamentals support the ongoing price appreciation.

    Could we see a price correction soon?

    While corrections are always possible, on-chain metrics show limited selling pressure and healthy market structure.

  • Dogecoin Whales Accumulate $300M as On-Chain Metrics Signal Breakout

    Dogecoin Whales Accumulate $300M as On-Chain Metrics Signal Breakout

    Fresh on-chain data reveals major Dogecoin (DOGE) investors have quietly accumulated over $300 million worth of tokens in the past month, potentially setting the stage for a significant price breakout. This surge in whale activity comes as multiple technical indicators align to suggest DOGE could be preparing for its next major move.

    Whale Accumulation Hits 4-Week High

    According to data from Santiment, addresses holding between 100 million and 1 billion DOGE have increased their collective balance from 24.6 billion to nearly 26 billion DOGE between April 13 and May 13. This 1.4 billion DOGE accumulation, worth approximately $300 million, represents one of the most significant periods of whale accumulation in 2025.

    This accumulation pattern shows striking similarities to previous whale activity that preceded major price movements, suggesting institutional and large-scale investors may be positioning themselves for an anticipated upward move.

    Network Activity Surges to Record Levels

    Supporting the bullish narrative, network metrics have shown remarkable growth:

    • Daily active addresses peaked at 680,000 (May 12-13)
    • Transaction volume reached $1.21 billion
    • Large transactions ($1M+) have increased significantly

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    Critical Price Levels to Watch

    DOGE currently trades at $0.22, facing crucial resistance between $0.24-$0.26. A breakthrough above this range could trigger a rally toward $0.30, while failure might see prices retreat to mid-$0.17 support levels.

    Expert Analysis and Price Targets

    Market analyst Ali Martinez suggests that a decisive close above $0.26 could spark a new bull run, potentially leading to significantly higher prices. The combination of whale accumulation and increasing network activity provides fundamental support for this bullish outlook.

    Frequently Asked Questions

    What is driving the current Dogecoin accumulation?

    Large investors appear to be positioning themselves ahead of potential market movements, with on-chain data showing significant whale accumulation over the past month.

    What are the key resistance levels for DOGE?

    The primary resistance zone lies between $0.24-$0.26, with $0.30 serving as the next major target if this range is broken.

    How significant is the current whale activity?

    The recent accumulation of 1.4 billion DOGE ($300M) by large holders represents one of the most substantial periods of whale activity in 2025.

    As the market awaits a potential breakout, investors should monitor whale activity and network metrics for confirmation of the current bullish setup. The next few weeks could prove crucial for DOGE’s price trajectory.