If dumping happens again, it might come from Bitfinex.
Most of the exchanges have digested most of the $BTC inflows after the plunge. Except for Bitfinex.
All eyes on Finex whales 👀
Analyst: Ki Young Ju | @cryptoquant_official
Most of the exchanges have digested most of the $BTC inflows after the plunge. Except for Bitfinex.
All eyes on Finex whales 👀
Analyst: Ki Young Ju | @cryptoquant_official
⚠️ We’re aware of the server issue caused by DDos attack and are working on it urgently. We'll resolve this issue ASAP.
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Conflicted sentiment in $BTC negatively impacts exchanges withdrawals and deposits.
- Both all exchanges inflow and outflow are decreasing
- Inflow addresses are decreasing
- Outflow addresses are decreasing and hit a 1-year low of 15.5K
Quicktake | @cryptoquant_official
- Both all exchanges inflow and outflow are decreasing
- Inflow addresses are decreasing
- Outflow addresses are decreasing and hit a 1-year low of 15.5K
Quicktake | @cryptoquant_official
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A perfect BTFD hit rate since 2019, and it just printed another buy signal. Bitcoin to stablecoin ratio oscillator. It's the ratio of bitcoin to stablecoins on all exchanges. A moving average crossover in the bottom green area is considered bullish.
Analyst: Cole Garner | @cryptoquant_oficial
Analyst: Cole Garner | @cryptoquant_oficial
Fear among $BTC investors is cooling off after the correction
- Neutral funding rate
- Increasing open interest
- Increasing leverage trading
Quicktake | @cryptoquant_official
- Neutral funding rate
- Increasing open interest
- Increasing leverage trading
Quicktake | @cryptoquant_official
$BTC market is very uncertain right now.
Whale selling indicates a bear/fake-bull market, and retail selling implies a bull market. We're in neutral now.
Stop trade, be patient and wait for the next volatility.
Analyst: Ki Young Ju | @cryptoquant_official
Whale selling indicates a bear/fake-bull market, and retail selling implies a bull market. We're in neutral now.
Stop trade, be patient and wait for the next volatility.
Analyst: Ki Young Ju | @cryptoquant_official
Miners keep holding $BTC.
Bitcoins periodically sent to exchanges from miners are decreasing. Chinese regulations can force miners to sell their rigs but not Bitcoin. If you look at the data for each miner, it has been a decreasing trend since March this year.
(Disclaimer: I'm not a Bitcoin maxi)
Analyst: Ki Young Ju | @cryptoquant_official
Bitcoins periodically sent to exchanges from miners are decreasing. Chinese regulations can force miners to sell their rigs but not Bitcoin. If you look at the data for each miner, it has been a decreasing trend since March this year.
(Disclaimer: I'm not a Bitcoin maxi)
Analyst: Ki Young Ju | @cryptoquant_official
BTC Liquidations a Clue to Positioning
The two charts below show the past 6 days of aggregate $BTC long and short liquidations every hour.
One thing to note, which shouldn't be a surprise given how negative funding has been, is that even as price has drifted lower, there have been more short liquidations than longs.
Two ways to interpret this:
1. Market is much more short than long here and max pain is to squeeze them higher.
2. There's more long liquidity lower, likely $29k - $30k, since we haven't raided those longs yet.
Analyst: joemccann| @cryptoquant_official
The two charts below show the past 6 days of aggregate $BTC long and short liquidations every hour.
One thing to note, which shouldn't be a surprise given how negative funding has been, is that even as price has drifted lower, there have been more short liquidations than longs.
Two ways to interpret this:
1. Market is much more short than long here and max pain is to squeeze them higher.
2. There's more long liquidity lower, likely $29k - $30k, since we haven't raided those longs yet.
Analyst: joemccann| @cryptoquant_official
Bearish signals from $BTC NVM ratio
- $BTC NVM ratio exceeded 1.5 again after the 17th of April
About NVM ratio
Live Chart | @cryptoquant_official
- $BTC NVM ratio exceeded 1.5 again after the 17th of April
About NVM ratio
Live Chart | @cryptoquant_official
China's ban on $BTC mining
To put the recent hash rate drop into perspective, we can look at the Historical Volatility index (standard deviation from 14-day mean value); HV (14). Historically speaking, we have not seen high volatility in the 14-day hash rate yet (overall integrity is intact). Still, a 25% drop in hash rate compared to its 14-day-moving average value (ROC (14)) is a bearish sign for the market (short-term negative effect on market sentiment).
Analyst: CryptoVizArt| @cryptoquant_official
To put the recent hash rate drop into perspective, we can look at the Historical Volatility index (standard deviation from 14-day mean value); HV (14). Historically speaking, we have not seen high volatility in the 14-day hash rate yet (overall integrity is intact). Still, a 25% drop in hash rate compared to its 14-day-moving average value (ROC (14)) is a bearish sign for the market (short-term negative effect on market sentiment).
Analyst: CryptoVizArt| @cryptoquant_official
I hate to say this, but it seems like the $BTC bear market confirmed.
Too many whales are sending $BTC to exchanges.
Analyst: Ki Young Ju | @cryptoquant_official
Too many whales are sending $BTC to exchanges.
Analyst: Ki Young Ju | @cryptoquant_official
BTC highest spot inflow mean since March 2020
I'm not in the business of creating fear by using March 2020 comparisons, but I will call something out when I see it, and yesterday we saw the highest daily spike in BTC Inflow Mean to Spot Exchanges since the March 2020 crash.
Also, a 7 day moving average of spot exchange netflows just turned significantly positive for the first time since the distribution in the 50k range.
Analyst: TemptingBeef | @cryptoquant_official
I'm not in the business of creating fear by using March 2020 comparisons, but I will call something out when I see it, and yesterday we saw the highest daily spike in BTC Inflow Mean to Spot Exchanges since the March 2020 crash.
Also, a 7 day moving average of spot exchange netflows just turned significantly positive for the first time since the distribution in the 50k range.
Analyst: TemptingBeef | @cryptoquant_official
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What's the impact of China's broader ban on miners?
- $BTC Hash rate is below 105B for two days in a row.
- The number of daily issued $BTC reduced.
- As a result, $BTC Puell Multiple hit an 8-month low, 0.81.
Data Guide: Puell Multiple| @cryptoquant_official
- $BTC Hash rate is below 105B for two days in a row.
- The number of daily issued $BTC reduced.
- As a result, $BTC Puell Multiple hit an 8-month low, 0.81.
Data Guide: Puell Multiple| @cryptoquant_official