📊 On-chain metrics are recovering, but are 1.7 million BTC holders underwater above $93,000?
Coinbase Q4 market outlook × the latest Glassnode data—here are a few key figures:
1️⃣ Bitcoin NUPL has rebounded from 0.11 to 0.38, re-entering the “Optimism/Anxiety” zone; the share of supply in profit has risen from 46% to 71%
2️⃣ MVRV is at 1.56, while the realized price is around $53,600. Valuations have returned to normal, still far from historical tops
3️⃣ Long-dormant wallets that haven’t moved for over a year have added around 340,000 BTC. Diamond hands aren’t budging
But the pressure is real, too:
• Around 1.7 million BTC last changed hands in the $89,600–$93,700 range, creating a dense supply zone overhead
• Supply that has moved in the past 3 months increased by 16%, and long-term holders turned to slight net selling in August
• Crypto ETFs saw $610 million in net outflows in a single week, with Ethereum outflows surpassing Bitcoin’s
Spot prices: $BTC 81,315 (24h +0.07%)｜ $ETH 2,410 (24h -0.75%)｜ BNB 714 (-1.23%)｜ SOL 103.6 (-0.15%)
BTC briefly fell below $81,000 intraday, while Ethereum dropped below $2,400, before both recovered some of their losses.
The broader backdrop: U.S. PPI for September surged to 6.3% year over year, stoking expectations of Fed rate hikes. The 10-year Treasury yield climbed to 5.29%, its highest level since 2002. Even so, Bitcoin rose 43% in Q3, bucking the trend and outperforming gold and U.S. stocks.
How long do you think high interest rates can hold back crypto’s recovery? Share your thoughts in the comments 👇
#比特币 #以太坊 #链上数据 #BitcoinMarket
⚠️ Personal opinion. DYOR and be aware of the risks
Coinbase Q4 market outlook × the latest Glassnode data—here are a few key figures:
1️⃣ Bitcoin NUPL has rebounded from 0.11 to 0.38, re-entering the “Optimism/Anxiety” zone; the share of supply in profit has risen from 46% to 71%
2️⃣ MVRV is at 1.56, while the realized price is around $53,600. Valuations have returned to normal, still far from historical tops
3️⃣ Long-dormant wallets that haven’t moved for over a year have added around 340,000 BTC. Diamond hands aren’t budging
But the pressure is real, too:
• Around 1.7 million BTC last changed hands in the $89,600–$93,700 range, creating a dense supply zone overhead
• Supply that has moved in the past 3 months increased by 16%, and long-term holders turned to slight net selling in August
• Crypto ETFs saw $610 million in net outflows in a single week, with Ethereum outflows surpassing Bitcoin’s
Spot prices: $BTC 81,315 (24h +0.07%)｜ $ETH 2,410 (24h -0.75%)｜ BNB 714 (-1.23%)｜ SOL 103.6 (-0.15%)
BTC briefly fell below $81,000 intraday, while Ethereum dropped below $2,400, before both recovered some of their losses.
The broader backdrop: U.S. PPI for September surged to 6.3% year over year, stoking expectations of Fed rate hikes. The 10-year Treasury yield climbed to 5.29%, its highest level since 2002. Even so, Bitcoin rose 43% in Q3, bucking the trend and outperforming gold and U.S. stocks.
How long do you think high interest rates can hold back crypto’s recovery? Share your thoughts in the comments 👇
#比特币 #以太坊 #链上数据 #BitcoinMarket
⚠️ Personal opinion. DYOR and be aware of the risks