"ForeDex" CVD by Order Size(Spot)
(Data based on a 1-month period)

It is uploaded daily to the official Telegram based on UTC.

1. Binance
2. Bybit
3. Bitfinex(usd)
4. Bitfinex(usdt)

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This is not much different from the view I shared in mid-January.

ETF inflows are picking up again, but it’s important to look at the underlying composition of those flows.

At the moment, total net inflows are effectively being driven by IBIT.
Meanwhile, key ETF such as FBTC, BITB, and ARKB are not showing meaningful increases.
What did IBIT flow look like when Bitcoin was at its peak?
It recorded the strongest inflows since November 2024.

However, ironically, this very signal ended up misleading market participants when forming their expectations.
In contrast, liquidity flowing through FBTC and ARKB had already been weakening over an extended period. - Read More

Author Mignolet
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It’s commonly said that a price increase accompanied by strong volume signals a “real” rally, but this is only partially true.

In the case of altcoins on Korean exchanges, a steady rise in volume from previously low levels can be viewed positively. However, when volume suddenly spikes, it often signals a potential top, and downside risk should be managed accordingly.

Volume also reflects market attention when public interest becomes excessive, the market is more likely to be nearing a peak.

Author Crypto Dan
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ForeDex Author Crazzyblock

When Smart Money Buys While Everyone Else Sells 🧵

This move isn’t about price going up. It’s about who is pushing it.

The CVD by order size shows a clear story: larger players are driving the trend, while smaller traders are fading it.

Price has been trending higher, but retail (small orders) has been net selling the whole way.
That means a lot of people don’t trust this move — they’re taking profits or staying defensive.

At the same time, medium and large orders are consistently positive.
Not random spikes — steady accumulation.
This is what real positioning looks like.

So what’s happening under the surface?
Absorption.
Large players are taking the other side of retail selling without letting price drop.
That’s how strong trends are built. - Read More

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ForeDeX Author Lukasz Wydra

This is one of the most important charts for Bitcoin (BTC) right now ⚠️

Long-Term Holder Supply in Loss is reaching levels last seen at the bottom of every previous bear market 👀

Share this - let everyone know!

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"ForeDex" CVD by Order Size(Spot)
(Data based on a 1-month period)

1. Binance
2. Bybit
3. Bitfinex(usd)
4. Bitfinex(usdt)

View Chart
ForeDex
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Wow, this is an incredible article that perfectly captures and explains the "ForeDex" data platform.

Highly recommended for everyone to read.

Full Article
📝 ForeDex Author Pelin Ay

The chart allows us to analyze the behavior of long-term Bitcoin investors alongside price using Coin Days Destroyed (CDD). This metric essentially answers the question, “Are old coins moving?”—a critical signal for determining market direction.

CDD in Profit has been elevated recently, indicating that long-term holders are realizing profits. However, this selling is not continuous.

At previous major tops, rising CDD was typically followed by price weakness. In the current situation, price remains strong and is holding within the upper range. The increase in CDD is not pushing price down, meaning there is selling pressure, but demand is effectively absorbing it. - Read More

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📝 ForeDex Author BLITZZ

Bitcoin – U.S. Mining Cost Averages

In 2024, Donald Trump signaled support for crypto mining companies in the U.S., encouraging them to stay and promising backing. In 2025, his sons, Eric Trump and Donald Trump Jr., launched a mining venture called American Bitcoin. However, 80% of this company is owned by Hut 8 Mining Corp., and it operates using Hut 8’s infrastructure.

Looking at current data, U.S.-based miners are under pressure and, in many cases, operating at a loss. For them to regain breathing room, Bitcoin likely needs to move back above the $80K level.

WULF: $48.77K
BITF: $77.3K
RIOT: $83.56K
HUT: $85.89K

Average: $73.88K

Over the past three years, Bitcoin has rarely traded below these mining cost levels. Even when it approached them, they typically acted as strong support, followed by upward moves. However, over the last two months, price has been frequently moving above and below this average, showing a shift in behavior.- Read More

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