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The euphoria at the peak of a #Bitcoin bull, and the despair in the depths of a bear have distinct on-chain signatures. Our analyst team has distilled these down into actionable signals which spot overheated, and widespread capitulation conditions. studio.glassnode.com/dashboards/sig

SOPR is another powerful tool to deploy during market corrections. Local top buyers often panic and spend coins, with increasing volumes, near correction lows. This pushes SOPR below 1 indicating realized losses🟥 Adv: glassno.de/3I5O5N1 Pro: glassno.de/3O1An1z

The cost basis for #Bitcoin Short-Term Holders is hovering around $25.2k, representing break-even for recent buyers. A successful retest of MVRV = 1.0 was achieved in the March correction, typical of uptrending markets. Will #Bitcoin reach $25.2k, and find support this round?

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1 Million Wholecoiner Addresses #Bitcoin

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Currently, the percentage of Futures Open Interest with Crypto-margined collateral remains at historic lows. Crypto-margined collateral such as #Bitcoin or #Ethereum is inherently more volatile, as fluctuations in the value of underlying collateral can amplify deleveraging… Show more

15h

📊For more information on Stablecoin performance, visit our dashboard below: glassno.de/44SxupK

Following the LUNA collapse, USDT has grown its relative #Stablecoin market share by 20% whilst USDC, BUSD and DAI have seen meaningful drops in dominance. 🟢 USDT Dominance: 65.9% (+20%) 🔵 USDC Dominance: 24% (-13%) 🟡 BUSD Dominance: 4.6% (-7.2%) 🔴 DAI Dominance: 3.9%… Show more

160

The #Bitcoin Dormancy Spending Ranges identifies the periods of time in the market where the average coin that is being spent today was acquired. 🔵LTH 7Day Spending Range: $67.6k - $35k 🔴STH 7Day Spending Range: $30.4k- $27.3k 🟡Market 7Day Spending Range: $15.8k - $28.5k

May 11

📊This chart is available to view live in studio below: glassno.de/3MjwLqs

Following the explosion in #Bitcoin Inscription popularity, the size of the Blockchain has increased by 24GB to a total of 479.7GB. This places the current Blockchain size within the projections of consistent 2.5MB and 1.35MB blocks. Assessing for the theoretical projections,… Show more

160

Currently, 4.3M Long-Term Holder coins are held at a loss, equivalent to 22.2% of the circulating supply. However, HODLer resolve remains resolute, with the majority of underwater coins remaining stationary despite incurring severe unrealized losses.

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May 10

Assessing the #Bitcoin On-Chain Cost Bases, we note a large upwards repricing of the Short-Term Holder Cost Basis over recent months, as their average acquisition price continues to approach the spot price. The reaction of spot price with respect to the STH-CB remains an area of… Show more

139

The Week On-chain: Bitcoin Fee Pressure Explodes Higher - Week 19,...

Accointing by Glassnode

@accointing

May 10

What are the tax loopholes for crypto investors Biden is talking about and where does the figure $18B come from? 🤔 A thread 👇🧵

#Bitcoin has experienced a massive surge in demand for blockspace this week, pushing fees above the block subsidy reward in some blocks. Our latest video report explores what is going on, and how we can assess the impact on #Bitcoin using on-chain data.

youtube.com

Start your Glassnode Advanced free trial today: https://glassno.de/3QFXu0S

Spotting Cycle Tops and Bottoms Dashboard: https://glassno.de/cycleextreme

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May 9

Happy #bitcoin miners. $17.7 million USD earned through transactions fees – in a single day. 📊glassno.de/3prBsWc

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May 9

As we've been receiving numerous questions from our users: we cannot confirm notable #BTC outflows from

@binance

. According to our data, their balance remains in a robust state, very close to all-time highs. 📊 glassno.de/3VU21Q0

115

Do you hold any BRC-20 tokens yet?

Yes
8.5%
No
91.5%

977 votesFinal results

Assessing the #Bitcoin Year-over-Year Regional Supply Change, we can observe a dichotomy forming between the supply held according to US and Asia trading hours. A near equal and opposite supply change can be noted, suggesting coins previously based in the US continue to transfer… Show more

199

May 8

Compelling negative correlation between #Bitcoin active addresses and transaction count. It's currently sitting at its lowest value in history. A flurry of transactions, yet addresses lag behind. 📊glassno.de/3LB8YRa

May 8

We previously simulated the potential economic outcomes of ETH withdrawals enabled by the Shapella upgrade. In this edition, we will examine what actually happened to the 1.55M withdrawn ETH, and how stake has reshuffled between stakers, staking service providers, and sell-side… Show more

107

Addresses on #Bitcoin have taken an extreme dive; new and active addresses are approaching the 365-DMA. New addresses are at YTD lows, while active addresses are at 1-year lows. Despite record transaction levels.

May 8

A few recent blocks have seen tremendous total fees paid of 5.87 $BTC, approaching 94% of the 6.25 $BTC block subsidy. Our mempool is currently full, and purging transactions approaching the 50sat/vbtye fee rate band. 📊 glassno.de/3NODwSa

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#Bitcoin is experiencing extremely high demand for blockspace, driven by BRC-20 tokens, utilizing text based inscriptions, and ordinals This is a revenue boost for Miners, as the average fee paid per block has reached 2.905 $BTC, near past bull peaks 📊glassno.de/3VGam9E

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591

May 7

62.9% of all #Bitcoin transactions are now using Taproot 🤯 Chart: studio.glassnode.com/metrics?a=BTC&

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For more information on metric performances across Epochs, visit our dashboard below 👇 glassno.de/3LDKHKi

#Bitcoin adoption continues to soar as the number of Non-Zero Addresses reaches an ATH of ~46.1M. When comparing for growth across Epochs, we note a decline in relative growth, but an increase in absolute growth as the number of Non-Zero Addresses continues to expand: 🔴Epoch… Show more

118

473

As the Long-Term Holder threshold of 155 days ages through the FTX failure, accumulated coins which have not been spent since are maturing to LTH status. This has pushed the total supply held by Long-Term Holders to an ATH of 14.35M coins (74% of the circulating supply).

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May 5

Following an ATH in Transaction Count, the Percent of Miner Revenue from Fees has reached a value of 12.4%, with only 254 / 5228 (4.9%) trading days providing a larger fee contribution. When comparing to the 2019 rally, we note the proportion of fees from total revenue has… Show more

113

On the recent increase of #Bitcoin transactions, and what's driving this 🧵 The number of #BTC on-chain transactions has recently seen an astounding surge, crossing 0.5 million daily transactions, with a record high of 682,000 on May 1st. Chart: glassno.de/3VuwGTL

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ICYMI: Exchanges are a common destination for speculator funds and the primary venue for price discovery. We can assess the capital flowing into/out of exchanges as a measure of the investor response. The recent rally was no exception, with exchanges seeing non-trivial… Show more

117

Backtesting Onchain Metrics in 5 Minutes? Absolutely. See How

@Glassnode

and GPT-4 Can Help You Achieve It in 5 Steps. 👇 #btc #eth #onchain #chatgpt

The #Bitcoin Trend Accumulation Score by Cohort has transitioned into a regime of moderate distribution with all cohorts vigorously dispensing coins. However, the largest of Whales (>10k) have once again deviated from the behavior of the other cohorts, shifting from a… Show more

252

Researchers generated the numbers using two metrics: thermocap and transaction fees, which are “the cumulative sum of issuance multiplied by spot price in addition to all-time generated fee revenue” and difficulty production cost. (

)

I had the pleasure of sitting down with the sharp

@_Checkmatey_

lead analyst at

. He gives an on-chain masterclass and brings a lot of bitcoin market dynamics into perspective!

Quote Tweet

The Bitcoin Layer

@TheBitcoinLayer

NEW GUEST LECTURE

Bitcoin Is Building Strength On-Chain | Checkmate youtu.be/WNT5HOTOf58 In this episode, Joe and Nik sit down with @_Checkmatey_ to discuss trends he's observing using data derived directly from bitcoin's blockchain, including why he believes #bitcoin put… Show more