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đ¨ Bybit Hack Sparks Market Chaos đ¨
Bybit faced a historic hack on February 21, 2025, losing 403,996 ETH (~$1.13B) due to a smart contract exploit. This breach triggered panic withdrawals, with total outflows reaching $4.3B across Bitcoin and stablecoins.
The hack led to a sharp market downturn, with Bitcoin dropping -13.6% and Ethereum -22.9%. Solana and Meme Coins saw even steeper declines, resetting market momentum to April 2024 levels.
Short-term holders are under pressure, realizing significant losses, as the market seeks demand to stabilize. The coming weeks are crucial for determining whether Bitcoin can recover or face further declines.
Bybit faced a historic hack on February 21, 2025, losing 403,996 ETH (~$1.13B) due to a smart contract exploit. This breach triggered panic withdrawals, with total outflows reaching $4.3B across Bitcoin and stablecoins.
The hack led to a sharp market downturn, with Bitcoin dropping -13.6% and Ethereum -22.9%. Solana and Meme Coins saw even steeper declines, resetting market momentum to April 2024 levels.
Short-term holders are under pressure, realizing significant losses, as the market seeks demand to stabilize. The coming weeks are crucial for determining whether Bitcoin can recover or face further declines.
đ Exciting news in the world of on-chain analytics! Cost Basis Distribution (CBD) coverage has expanded beyond Bitcoin, now including Ethereum, ERC-20, and SPL tokens. This advancement offers deeper insights into investor behavior across various asset classes, highlighting market conviction and capitulation.
CBD maps out price levels where assets were last transacted, revealing potential support/resistance zones. The new Heatmap Dashboard visualizes these dynamics, helping investors understand market positioning and sentiment.
Access these insights via the Glassnode API and stay tuned for more updates on leveraging CBD data for strategic trading and investment decisions. đ
CBD maps out price levels where assets were last transacted, revealing potential support/resistance zones. The new Heatmap Dashboard visualizes these dynamics, helping investors understand market positioning and sentiment.
Access these insights via the Glassnode API and stay tuned for more updates on leveraging CBD data for strategic trading and investment decisions. đ
đ Crypto Market Faces Contraction: After Bitcoin's failed attempt to break $105k, the market has entered a contraction phase. Bitcoin remains relatively stable, but Ethereum, Solana, and Memecoins have seen sharper corrections, reflecting a shift in risk appetite.
đ Solana's Highs and Lows: Solana has led in capital inflows over the past two years but has recently faced significant outflows alongside Memecoins. Perpetual futures open interest has dropped, indicating reduced speculative activity.
đ Institutional Dynamics: Bitcoin ETFs show strong institutional demand, contrasting with Ethereum's cooling interest. Bitcoin's resilience highlights its benchmark status, while Ethereum struggles to attract sustained inflows.
đ Solana's Highs and Lows: Solana has led in capital inflows over the past two years but has recently faced significant outflows alongside Memecoins. Perpetual futures open interest has dropped, indicating reduced speculative activity.
đ Institutional Dynamics: Bitcoin ETFs show strong institutional demand, contrasting with Ethereum's cooling interest. Bitcoin's resilience highlights its benchmark status, while Ethereum struggles to attract sustained inflows.
**Crypto Markets Enter 2025 with Institutional Momentum đ**
- **Bitcoin's Institutional Surge**: Spot Bitcoin ETFs saw record inflows, solidifying BTC as a macro asset. However, long-term holders took profits at cycle highs, reshaping market dynamics.
- **Ethereum's Layer-2 Growth**: Ethereum's Layer-2 solutions drove network activity, with daily transactions up 41% in Q4. Lower fees and increased adoption highlight Layer-2's role in scaling.
- **Stablecoins' Rising Dominance**: Stablecoin supply hit record highs, with transaction volumes reaching $30T in 2024. Their role as a liquidity backbone is crucial for institutional adoption.
đ For detailed insights, download the full report.
- **Bitcoin's Institutional Surge**: Spot Bitcoin ETFs saw record inflows, solidifying BTC as a macro asset. However, long-term holders took profits at cycle highs, reshaping market dynamics.
- **Ethereum's Layer-2 Growth**: Ethereum's Layer-2 solutions drove network activity, with daily transactions up 41% in Q4. Lower fees and increased adoption highlight Layer-2's role in scaling.
- **Stablecoins' Rising Dominance**: Stablecoin supply hit record highs, with transaction volumes reaching $30T in 2024. Their role as a liquidity backbone is crucial for institutional adoption.
đ For detailed insights, download the full report.
đ Bitcoin's current bull market shows striking similarities to the 2015â2018 cycle, with a gradual decline in price appreciation and a drawdown profile that mirrors past trends. Realized Cap has grown 2.1x, suggesting room for expansion as the euphoria phase hasn't fully impacted yet.
đ Exchange balances have dropped to 2.7M BTC, largely due to coins moving to ETF wallets, not a supply shock. Capital rotation from long-term holders to new investors is driving the market, with recent trends echoing late 2017 and early 2021. This could signal a potential demand exhaustion phase ahead.
đ Exchange balances have dropped to 2.7M BTC, largely due to coins moving to ETF wallets, not a supply shock. Capital rotation from long-term holders to new investors is driving the market, with recent trends echoing late 2017 and early 2021. This could signal a potential demand exhaustion phase ahead.
**Bitcoin Market Nears Equilibrium Amid Reduced Sell-Side Pressure**
- Capital inflows into Bitcoin have slowed since hitting $100k, indicating reduced sell-side pressure and a market approaching equilibrium. đ
- Long-term holders show decreased selling activity, with exchange inflows dropping significantly, suggesting profit-taking may be complete for now.
- Volatility measures are tightening, with Bitcoin trading in a narrow 60-day range, often a precursor to significant market movement.
- Retail investors are absorbing more BTC than miners produce, highlighting strong demand.
- The market's current state suggests a potential for increased volatility ahead. đ
- Capital inflows into Bitcoin have slowed since hitting $100k, indicating reduced sell-side pressure and a market approaching equilibrium. đ
- Long-term holders show decreased selling activity, with exchange inflows dropping significantly, suggesting profit-taking may be complete for now.
- Volatility measures are tightening, with Bitcoin trading in a narrow 60-day range, often a precursor to significant market movement.
- Retail investors are absorbing more BTC than miners produce, highlighting strong demand.
- The market's current state suggests a potential for increased volatility ahead. đ
**Bitcoin Market Update đ**
- Bitcoin is in a correction phase, trading 11% below its all-time high of $108k, yet maintaining key support levels, indicating a resilient market structure.
- The MVRV ratio, at 1.32, shows an average unrealized profit of 32%, suggesting positive market sentiment despite recent corrections.
- Short-term holders face moderate stress, with 2.0â3.5M BTC underwater, but the market remains less distressed than previous cycles.
- The optimized 1-year MVRV Z-Score offers a framework for identifying market phases, with Bitcoin still in bullish territory, trading at $94,398.
- Bitcoin is in a correction phase, trading 11% below its all-time high of $108k, yet maintaining key support levels, indicating a resilient market structure.
- The MVRV ratio, at 1.32, shows an average unrealized profit of 32%, suggesting positive market sentiment despite recent corrections.
- Short-term holders face moderate stress, with 2.0â3.5M BTC underwater, but the market remains less distressed than previous cycles.
- The optimized 1-year MVRV Z-Score offers a framework for identifying market phases, with Bitcoin still in bullish territory, trading at $94,398.
đ Solana's Surge: Solana has outperformed Bitcoin and Ethereum since November 2022, driven by a net liquidity increase of +$55B. With 61 Solana tokens, including 52 memecoins, now supported, new metrics like address activity and volume are available for deeper insights. Despite profit-taking, Solana's unrealized profitability suggests room for growth.
đ Capital Inflows: Solana's capital inflow has surpassed Ethereum's for the first time, highlighting strong demand. The asset's Realized Cap has grown from $22B to $77B, with significant contributions from diverse investor profiles. Solana's market remains heated but shows potential for further growth.
đ Capital Inflows: Solana's capital inflow has surpassed Ethereum's for the first time, highlighting strong demand. The asset's Realized Cap has grown from $22B to $77B, with significant contributions from diverse investor profiles. Solana's market remains heated but shows potential for further growth.
**Bitcoin's Bull Market: A Deep Dive into Current Trends đ**
- Bitcoin's price has soared above $100k, marking a new ATH in realized profits at $2.1B. Long-Term Holders are capitalizing on this surge, selling coins aged 6-12 months, while older coins remain largely untouched.
- Despite significant sell-side pressure, demand remains robust, with new investors holding a larger share of network wealth. This shift indicates a healthy demand profile, typical of late-stage bull markets.
- Interestingly, market drawdowns are less severe, with the deepest at -32%, reflecting strong demand from spot ETFs and institutional interest. đ
- The AVIV Ratio suggests potential for further growth, as the market hasn't reached its peak profitability pressure.
- Bitcoin's price has soared above $100k, marking a new ATH in realized profits at $2.1B. Long-Term Holders are capitalizing on this surge, selling coins aged 6-12 months, while older coins remain largely untouched.
- Despite significant sell-side pressure, demand remains robust, with new investors holding a larger share of network wealth. This shift indicates a healthy demand profile, typical of late-stage bull markets.
- Interestingly, market drawdowns are less severe, with the deepest at -32%, reflecting strong demand from spot ETFs and institutional interest. đ
- The AVIV Ratio suggests potential for further growth, as the market hasn't reached its peak profitability pressure.
đ Bitcoin's blockchain transparency offers unique insights into coin holder behavior. A recent analysis reveals a power-law relationship between coin age and spending probability, providing a predictive framework for understanding investor actions and coin dormancy.
- **UTXO Model**: Unspent Transaction Outputs (UTXOs) are key to analyzing Bitcoin's ecosystem. Their age and spending probabilities reveal holder behavior.
- **Power-Law Dynamics**: As coins age, their likelihood of being spent decreases predictably, enhancing on-chain analysis.
- **Investment Insights**: This framework aids in refining trading strategies and anticipating market shifts.
đ Embrace these insights for a data-driven edge in Bitcoin analysis!
- **UTXO Model**: Unspent Transaction Outputs (UTXOs) are key to analyzing Bitcoin's ecosystem. Their age and spending probabilities reveal holder behavior.
- **Power-Law Dynamics**: As coins age, their likelihood of being spent decreases predictably, enhancing on-chain analysis.
- **Investment Insights**: This framework aids in refining trading strategies and anticipating market shifts.
đ Embrace these insights for a data-driven edge in Bitcoin analysis!
**Bitcoin Breaks $100k Milestone đ**
- On December 5th, Bitcoin crossed the $100,000 mark for the first time, briefly pushing its market cap over $2 trillion, surpassing silver's valuation. This achievement marks a significant milestone in Bitcoin's journey from its Genesis Block.
- Miners have earned $71.49 billion since inception, reflecting Bitcoin's robust security and economic incentives. The network has processed 1.12 billion transactions, settling $131.25 trillion in transfer volume.
- Bitcoin's supply distribution shows a broad ownership range, from retail investors to large institutional holders, highlighting its growing institutionalization and market stability.
- On December 5th, Bitcoin crossed the $100,000 mark for the first time, briefly pushing its market cap over $2 trillion, surpassing silver's valuation. This achievement marks a significant milestone in Bitcoin's journey from its Genesis Block.
- Miners have earned $71.49 billion since inception, reflecting Bitcoin's robust security and economic incentives. The network has processed 1.12 billion transactions, settling $131.25 trillion in transfer volume.
- Bitcoin's supply distribution shows a broad ownership range, from retail investors to large institutional holders, highlighting its growing institutionalization and market stability.
Bitcoin has surged to a new all-time high of $99.4k, breaking out of its previous $54k-$74k range. đ However, several risk metrics indicate a Very High Risk đĽ zone, with elevated unrealized profits and potential for market corrections. The Realized Profit/Loss Ratio suggests intense profit-taking, hinting at near-term demand exhaustion. Despite this, realized profit volumes have dropped by 76%, and futures funding rates are stabilizing, indicating a cooling market. Key demand clusters are forming between $87k and $98k, as the market seeks equilibrium amidst heightened volatility.
Bitcoin nears the $100k milestone as Long-Term Holders (LTH) distribute 507k BTC, marking a significant yet smaller sell-off compared to March's 934k BTC. LTHs are locking in a record $2.02B in daily profits, driven by coins aged 6 months to 1 year. This trend suggests swing traders are capitalizing on recent market gains. Despite the sell-side pressure, the market's robust demand side is crucial for absorbing the supply and sustaining price growth. As the market navigates this price discovery phase, the balance between profit-taking and demand will be pivotal. đđ
đ Bitcoin's recent attempts to breach $100K have sparked debate: are we at a local top, or is more momentum ahead? On-chain data offers insights, with a positive signal flashing for Bitcoin. Momentum in New Addresses has surpassed the yearly average, indicating growing network activity and bullish sentiment. Historically, such signals have preceded rallies, suggesting potential market strength.
Meanwhile, Glassnode has expanded its coverage to include BNB and TON metrics, alongside Solana. These additions allow for deeper analysis of altcoin activity, providing a comprehensive view of ecosystem momentum. đ
Meanwhile, Glassnode has expanded its coverage to include BNB and TON metrics, alongside Solana. These additions allow for deeper analysis of altcoin activity, providing a comprehensive view of ecosystem momentum. đ
**Bitcoin's Meteoric Rise to $93k đ**
- Bitcoin's price has soared to a new all-time high of $93k, driven by robust capital inflows totaling $62.9 billion in the past 30 days. This surge is largely fueled by institutional interest, particularly through U.S. Spot ETFs, which absorbed 90% of the selling pressure from long-term holders.
- The market is witnessing a shift, with capital moving from traditional assets like gold and silver to digital ones. Bitcoin's market cap now stands at $1.796 trillion, surpassing silver and nearing Amazon.
- Despite increased profit-taking by long-term holders, institutional demand continues to stabilize the market, highlighting the growing influence of ETFs in the crypto space.
- Bitcoin's price has soared to a new all-time high of $93k, driven by robust capital inflows totaling $62.9 billion in the past 30 days. This surge is largely fueled by institutional interest, particularly through U.S. Spot ETFs, which absorbed 90% of the selling pressure from long-term holders.
- The market is witnessing a shift, with capital moving from traditional assets like gold and silver to digital ones. Bitcoin's market cap now stands at $1.796 trillion, surpassing silver and nearing Amazon.
- Despite increased profit-taking by long-term holders, institutional demand continues to stabilize the market, highlighting the growing influence of ETFs in the crypto space.
Glassnode and Fasanara Digital have teamed up to release a comprehensive Q4 report on the crypto market, combining on-chain analytics with a scientific trading approach. đ This collaboration offers insights into institutional behavior, market structure, and capital flows, showcasing the practical applications of data-driven tools for strategic investments.
Key highlights include record-breaking futures volumes, signaling market stability, and significant inflows into Bitcoin ETFs, reflecting mainstream confidence. The report also notes early capital rotation into altcoins, suggesting diversification opportunities. With Bitcoin near $90K, this report provides a strategic foundation for navigating the bullish market landscape. đ
Key highlights include record-breaking futures volumes, signaling market stability, and significant inflows into Bitcoin ETFs, reflecting mainstream confidence. The report also notes early capital rotation into altcoins, suggesting diversification opportunities. With Bitcoin near $90K, this report provides a strategic foundation for navigating the bullish market landscape. đ
đ Bitcoin has surged to a new all-time high, driven by strong demand in spot markets, particularly through U.S. spot ETFs. Institutional interest has spiked post-election, with notable inflows into CME futures and ETFs, favoring spot exposure and fueling Bitcoin's entry into a new ATH discovery phase.
đ Over 95% of Bitcoin's circulating supply is now in profit, a level often followed by significant profit-taking. While realized profits have increased, they remain below previous peaks, suggesting room for further growth as investors anticipate higher prices.
đ Over 95% of Bitcoin's circulating supply is now in profit, a level often followed by significant profit-taking. While realized profits have increased, they remain below previous peaks, suggesting room for further growth as investors anticipate higher prices.
đ Bitcoin has soared to a new all-time high of $75.4k, driven by the potential re-election of President Trump. This milestone follows months of consolidation and signals a phase of price discovery, with investor sentiment nearing euphoria.
đ° Capital inflows into Bitcoin have surged, reflecting a growing investor appetite. Despite increased profit-taking, realized losses remain minimal. The market is in a profit-dominant phase, with profits vastly outweighing losses.
đ Options markets indicate heightened volatility expectations, with balanced hedging on both sides. As the US election looms, investors brace for potential market swings, underscoring the dynamic nature of the crypto landscape.
đ° Capital inflows into Bitcoin have surged, reflecting a growing investor appetite. Despite increased profit-taking, realized losses remain minimal. The market is in a profit-dominant phase, with profits vastly outweighing losses.
đ Options markets indicate heightened volatility expectations, with balanced hedging on both sides. As the US election looms, investors brace for potential market swings, underscoring the dynamic nature of the crypto landscape.
**Bitcoin Rallies Above $69k Amid Market Optimism**
Bitcoin's spot price surged past $69k, nearing its $73k ATH from March. This rally has broken through key technical levels, including the 200DMA đ˘ and 111DMA đŁ, indicating market resilience. On-chain data shows all Short-Term Holder sub-age groups now hold unrealized profits, boosting sentiment.
Futures markets have seen open interest hit a new ATH of $32.9B, driven by institutional activity and cash-and-carry strategies. Despite subdued trading volumes, the market's liquidity and capital inflows are rising, suggesting a positive outlook for Bitcoin. đ
Bitcoin's spot price surged past $69k, nearing its $73k ATH from March. This rally has broken through key technical levels, including the 200DMA đ˘ and 111DMA đŁ, indicating market resilience. On-chain data shows all Short-Term Holder sub-age groups now hold unrealized profits, boosting sentiment.
Futures markets have seen open interest hit a new ATH of $32.9B, driven by institutional activity and cash-and-carry strategies. Despite subdued trading volumes, the market's liquidity and capital inflows are rising, suggesting a positive outlook for Bitcoin. đ
đ Glassnode and Coinbase have launched their Q4 crypto market report, highlighting key trends and insights. Despite Bitcoin's range-bound price action between $50,000 and $60,000, the market has matured with increased liquidity and sophistication. Institutional interest remains strong, with US Bitcoin spot ETFs seeing $5 billion in net inflows. Ethereum staking hit an all-time high, reflecting growing confidence in its long-term value. Stablecoins also reached a record $170 billion market cap, proving their utility in cross-border transactions. đ Download the full report for a comprehensive view of these trends.
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