Joao Wedson

The balance of addresses holding more than $10M across all stablecoins has not been rising since the crypto market reached all-time highs in October 2025.

Stablecoins are the real liquidity heart of crypto. You should be paying closer attention to them. Alphractal.com

The Long/Short Ratio across the Top 5 Exchanges for Ethereum has been rising. Is that a good or bad sign?

I asked Alpha AI:

“The Long/Short Ratio is rising across the top 5 exchanges for Ethereum. Is this good or bad?”

Here was the answer:

“Looking at Ethereum’s Long/Short Ratio, a rise like this is not automatically good. In the current context, it is becoming more cautious-to-negative from a contrarian perspective, because the ratio has climbed from roughly 1.33 a month ago to about 2.77 now.

That means long positioning is increasingly dominant, and when crowd positioning becomes too one-sided, the market often becomes more fragile rather than stronger.

What matters is how fast this sentiment has shifted. Ethereum moved from a moderately long-biased setup into a much more crowded long regime, especially in the last stretch where the ratio pushed above 2.4 and then to nearly 2.8.

That kind of acceleration usually signals rising optimism and leverage concentration, not necessarily healthy spot-led demand. In practice, this can support upside briefly if momentum is still strong, but it also increases the risk of sharp flushes if price stalls and longs start getting squeezed.

So the clean read is: bullish sentiment, but elevated risk.

Tactically, this is better interpreted as a warning of crowding than a clean confirmation signal. If Ethereum keeps advancing while this stays elevated, the move may still continue, but the structure becomes less forgiving.

If the ratio starts rolling over after this steep rise, that would matter because it could reflect positioning being unwound rather than fresh conviction entering the market.

On Alphractal, the best next step is to compare this with Top Trader Long/Short positioning and Taker Buy/Sell pressure. That helps separate retail-style crowding from stronger directional participation.

Data > Narratives

Ask Alpha AI anything for free.

Visit: Alphractal.com $ETH

Any attempt at a rally in $BTC and $ETH could simply be a trap for the final liquidations? Probably yes. Stay alert.

The on-chain volume of USDT and USDC across all blockchains is declining. Even with prediction markets growing, the real volume of stablecoins has not reached the levels we saw at the end of 2021. Alphractal.com

Satoshi Nakamoto is Hal Finney, or Hal Finney is Satoshi Nakamoto? Nobody knows. But if Hal was Satoshi, maybe Bitcoin’s real supply should not be discussed only as 21M BTC anymore. The protocol supply is still ~21M. But the market does not trade the protocol limit. It trades the available float. Current circulating supply is around 20.02M BTC. Now add the structure: ETFs + funds: ~2M BTC Miners: ~1.8M BTC Exchanges: ~2.6M to 2.8M BTC Public treasuries: ~1.2M BTC Satoshi Nakamoto: ~700K to 1.1M BTC Potentially lost / never moved coins: ~6.5M to 7.39M BTC, including Satoshi A large part of Bitcoin is lost, dormant, locked in long-term hands, sitting in ETFs, miners, treasuries or exchange reserves. So the real question is not how many BTC exist. It is how many BTC are actually available to be bought, sold and repriced. And that number is much smaller than most people think. Bitcoin does not need everyone to buy. It only needs the available supply to keep shrinking while demand keeps rising.