BTCBitcoinBullishBitcoin

10/4/2021 on

Bitcoin LTH- &STH-SOPR support bullish price movements

Spent Output Profit Ratio (SOPR) for both long-term (LTH) and short-term (STH) investors supports bullish price movements. LTH-SOPR reset recently to 1.0, followed by an aggressive bounce. This usually happens at the end of bear markets / during pre bull markets. STH-SOPR is positive and indicates a stop in profit taking (metric is not increasing further) and sufficient demand so that selling pressure can be absorbed.   

BTCBitcoinBullishBitcoin

9/8/2021 on

Long-term Bitcoin Holders unshaken by Flash Crash

The recent flash crash in Bitcoin sent shockwaves across investors. On-Chain data, however, shows, that long-term holders (LTHs) seem unshaken by the shakeout of short-term holders (STHs). Similarly to the events in May 2021, we see the STH-SOPR below 1.0, which indicates BTC being spent at a loss. LTH-SOPR on the other hand remains above 1.0, same with the adjusted SOPR, while the total % of BTC supply remains above 80 %. It was just a healthy shakeout, as far as presented data suggests     

ETHEthereumBullishEthereum

8/25/2021 on

Ethereum's long-term outlook grows even stronger because of...

...early ETH 2.0 Staking in cooperation with EIP-1559 burn. The more ETH gets locked in the deposit contract, the more ETH gets burned, the more likely we see a potential deflationary supply curve. Relevant data looks nice. More than 7 million ETH are locked in Staking already, exchange reserves dropped strongly, and we see continued deposits even while Ethereum showed a strong signal of recovery from the lows during May and July 2021.    

BTCBitcoinNeutralBitcoin

8/25/2021 on

Double Bottom for the BTC Whale Ratio

BTC Whale Ratio fell and bounced aggressively in an event we saw last on May 20th. After the first event, we observed BTC being in what seemed like an accumulation phase for months. All exchange reserves seem normal, net flows within ranges we expect. Fund flows on the other hand show a continued downtrend and consequently signal OTC deals. Lots of inflows to exchanges with custody solutions? Could be well just accumulated coins from OTC deals and Whales playing with the emotions of retail.     

BTCBitcoinBullish(Nuanced)Bitcoin

7/20/2021 on

The bull case for Bitcoin

Just as mentioned yesterday, I wanted to present some bullish signals next to the bearish ones. What I'm looking at is the Puell Multiple, which indicated upward rallies in the past decently. We recently fell below 0.5, which is the "buy zone". This comes with a NVT Golden Cross value close to the upside threshold recently. Leverage on exchanges is high, which leads me to believe that we will see a shakeout in over leveraged shorts soon. All while the SSR is still tending downwards.