"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
(Data based on a 1-month period)
1. Binance
2. Bybit
3. Bitfinex(usd)
4. Bitfinex(usdt)
View Chart
ForeDex
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-Offer ends April 29, 11:00 UTC (April 29, 07:00 GMT-4)
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-Offer ends April 29, 11:00 UTC (April 29, 07:00 GMT-4)
Wow, this is an incredible article that perfectly captures and explains the "ForeDex" data platform.
Highly recommended for everyone to read.
Full Article
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
View Chart
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
View Chart
📝 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
View Chart
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
View Chart
"ForeDex" has been live for less than a month.
However, well-known analysts from various countries are already actively using our datasets.
Thank you once again.
You can explore a wide range of differentiated datasets simply by signing up.
https://foredex.io/charts
However, well-known analysts from various countries are already actively using our datasets.
Thank you once again.
You can explore a wide range of differentiated datasets simply by signing up.
https://foredex.io/charts
"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
(Data based on a 1-month period)
1. Binance
2. Bybit
3. Bitfinex(usd)
4. Bitfinex(usdt)
View Chart
📝 ForeDex Author Rei Researcher
"Korean Market Sentiment"
The Korean Retail Risk Sentiment chart provides an objective view of retail capital flows:
BTC Price is moving sideways around the 77k level, with limited volatility.
Altcoin Combined Ratio: At 17.1%, significantly below the 50% overheated threshold. FOMO-driven buying pressure has not emerged.
Additionally, ForeDex is an on-chain data analytics platform used across Asia, focusing on measuring crowd sentiment through real-time on-chain data.
The current reading reflects an accumulation phase, with no signs of extreme euphoria recorded so far. However, we are still waiting for more constructive confirmation from capital flows.
View Chart
"Korean Market Sentiment"
The Korean Retail Risk Sentiment chart provides an objective view of retail capital flows:
BTC Price is moving sideways around the 77k level, with limited volatility.
Altcoin Combined Ratio: At 17.1%, significantly below the 50% overheated threshold. FOMO-driven buying pressure has not emerged.
Additionally, ForeDex is an on-chain data analytics platform used across Asia, focusing on measuring crowd sentiment through real-time on-chain data.
The current reading reflects an accumulation phase, with no signs of extreme euphoria recorded so far. However, we are still waiting for more constructive confirmation from capital flows.
View Chart
📝 ForeDex Founder Mignolet
What is clear is the following:
In past Bitcoin market cycles, large inflow transactions into Coinbase and Binance were frequently observed, and these often translated into actual trading activity (blue box).
However, in this cycle, such patterns have not appeared (yellow box).
If we apply the same historical data framework, it becomes difficult to explain the market shock that has occurred since October last year.
The prevailing view was that there would be no major market disruption following ETF approval. Yet, a shock did occur, and its impact is still ongoing.
Ultimately, the market structure and transaction patterns have clearly changed since the ETF era.
View Chart
What is clear is the following:
In past Bitcoin market cycles, large inflow transactions into Coinbase and Binance were frequently observed, and these often translated into actual trading activity (blue box).
However, in this cycle, such patterns have not appeared (yellow box).
If we apply the same historical data framework, it becomes difficult to explain the market shock that has occurred since October last year.
The prevailing view was that there would be no major market disruption following ETF approval. Yet, a shock did occur, and its impact is still ongoing.
Ultimately, the market structure and transaction patterns have clearly changed since the ETF era.
View Chart
📝 ForeDex Author Pelin Ay
On ForeDex charts, we can analyze multiple parameters within a single chart. This is a powerful feature. Since we have this opportunity, let’s take a look at gold, the S&P 500, and Brent oil together. Each of these assets reflects different macro expectations.
Gold has shown a very strong, almost parabolic rise recently. Moves like this typically indicate increasing safe-haven demand, rising liquidity expectations, or growing macro uncertainty. However, after such steep rallies, the market usually enters a phase of sideways consolidation.
Brent, on the other hand, followed a prolonged period of weakness with a sharp upward spike. Still, it has not yet established a stable trend.
Oil generally serves as a proxy for real economic activity. If global growth were strong, oil would likely be trending upward in a more stable manner. In its current state, oil does not provide a clear signal of strong economic growth- Read More
View Chart
On ForeDex charts, we can analyze multiple parameters within a single chart. This is a powerful feature. Since we have this opportunity, let’s take a look at gold, the S&P 500, and Brent oil together. Each of these assets reflects different macro expectations.
Gold has shown a very strong, almost parabolic rise recently. Moves like this typically indicate increasing safe-haven demand, rising liquidity expectations, or growing macro uncertainty. However, after such steep rallies, the market usually enters a phase of sideways consolidation.
Brent, on the other hand, followed a prolonged period of weakness with a sharp upward spike. Still, it has not yet established a stable trend.
Oil generally serves as a proxy for real economic activity. If global growth were strong, oil would likely be trending upward in a more stable manner. In its current state, oil does not provide a clear signal of strong economic growth- Read More
View Chart
📝 ForeDex Founder Mignolet
Two key datasets gave Bitcoin market participants strong conviction near the price peak.
Expectations of rate cuts, a rebound in the U.S. equity market, and large-scale capital inflows all seemed to support further upside.
However, the outcome unfolded in the exact opposite direction. Even during the price shock, whale activity continued to increase, which distorted market perception and led participants to misjudge the situation.
In particular, CVD-based whale patterns—widely used and considered highly useful—became counterproductive in this cycle. Despite the price shock, the indicator continued to show strength, reinforcing bullish conviction. But in reality, the market did not follow through.
Ultimately, since the ETF era, market structure and transaction patterns have become far more sophisticated. If a signal is obvious to everyone, it is no longer an edge -Read More
View Chart
Two key datasets gave Bitcoin market participants strong conviction near the price peak.
Expectations of rate cuts, a rebound in the U.S. equity market, and large-scale capital inflows all seemed to support further upside.
However, the outcome unfolded in the exact opposite direction. Even during the price shock, whale activity continued to increase, which distorted market perception and led participants to misjudge the situation.
In particular, CVD-based whale patterns—widely used and considered highly useful—became counterproductive in this cycle. Despite the price shock, the indicator continued to show strength, reinforcing bullish conviction. But in reality, the market did not follow through.
Ultimately, since the ETF era, market structure and transaction patterns have become far more sophisticated. If a signal is obvious to everyone, it is no longer an edge -Read More
View Chart
📝 ForeDex Author Crypto Dan
“Crypto Market – Current Sentiment of Korean Investors”
The crypto market has been moving through a prolonged sideways phase since Bitcoin touched $60K earlier this year.
Recently, both altcoins and Bitcoin have shown gradual rebounds, which has led to improving sentiment among Korean investors (see chart).
However, in a downcycle, such movements are more likely to be false rallies that precede further declines, so excessive risk-taking is not advisable.
That said, from a cycle perspective, the current range still appears relatively cheap, and when viewed with a long-term horizon beyond 2028, it can be considered more than sufficiently undervalued.
View Chart
“Crypto Market – Current Sentiment of Korean Investors”
The crypto market has been moving through a prolonged sideways phase since Bitcoin touched $60K earlier this year.
Recently, both altcoins and Bitcoin have shown gradual rebounds, which has led to improving sentiment among Korean investors (see chart).
However, in a downcycle, such movements are more likely to be false rallies that precede further declines, so excessive risk-taking is not advisable.
That said, from a cycle perspective, the current range still appears relatively cheap, and when viewed with a long-term horizon beyond 2028, it can be considered more than sufficiently undervalued.
View Chart
📝 ForeDex Author Gaah
"Realized Price Active supply" is just above the current price, around ~$85,000
This price range converges with new (as yet untested) resistance channel of current BTC subcycle.
This line served as support throughout the uptrend of the last cycle.
For end of the current bear market to be confirmed, this price must be surpassed.
View Chart
"Realized Price Active supply" is just above the current price, around ~$85,000
This price range converges with new (as yet untested) resistance channel of current BTC subcycle.
This line served as support throughout the uptrend of the last cycle.
For end of the current bear market to be confirmed, this price must be surpassed.
View Chart
"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
(Data based on a 1-month period)
1. Binance
2. Bybit
3. Bitfinex(usd)
4. Bitfinex(usdt)
View Chart