CryptoQuant Quicktake

• Renko is a Japanese charting method from the 19th century, introduced to the Western world by Steve Nison in his book Beyond Candlesticks (1994). His work was later continued by Prashant Shah, CMT and CFTe. The key distinction is dimensional: candlesticks are two-dimensional, as they use both time and value. Renko is one-dimensional. It only plots a new brick when value moves by a defined amount, removing time from the equation entirely. This makes it a "noiseless" chart. This method is particularly effective for identifying trend changes.

• The CMT Association was founded in 1973 by Ralph Acampora, John Brooks, and John Greeley, growing from informal meetings of technical analysts that began in New York in 1967. Over the following decades, Acampora and the association worked to legitimize the discipline (it was finally recognized by FINRA and the SEC). Today, the CMT represents the highest professional standard in technical analysis. Acampora himself evolved to advocate for what he calls "fusion analysis", the integration of technical and fundamental approaches, as the most complete way to analyze markets.

• The path of technical analysis toward institutional recognition is quite similar to Bitcoin’s. Both faced years of skepticism before regulators (SEC) acknowledged their legitimacy.

• Steve Nison, who was among the first to receive the CMT designation, is a renowned author and speaker who claims the distinction of pioneering candlestick charts to the Western world. Steve has authored three books, including the widely-known Japanese Candlestick Charting Technique. He is also an expert on Western technical analysis with over 30 years of real-world experience.

• Regarded as one of the foremost technical analysts in the world, Steve’s client list includes Fidelity, J.P. Morgan, Goldman Sachs, Morgan Stanley, NYSE and NASDAQ market makers, hedge funds and money managers.

Written by _OnChain

• Renko is a Japanese charting method from the 19th century, introduced to the Western world by Steve Nison in his book Beyond Candlesticks (1994). His work was later continued by Prashant Shah, CMT and CFTe. The key distinction is dimensional: candlesticks are two-dimensional, as they use both time and value. Renko is one-dimensional. It only plots a new brick when value moves by a defined amount, removing time from the equation entirely. This makes it a "noiseless" chart. This method is particularly effective for identifying trend changes.

• The CMT Association was founded in 1973 by Ralph Acampora, John Brooks, and John Greeley, growing from informal meetings of technical analysts that began in New York in 1967. Over the following decades, Acampora and the association worked to legitimize the discipline (it was finally recognized by FINRA and the SEC). Today, the CMT represents the highest professional standard in technical analysis. Acampora himself evolved to advocate for what he calls "fusion analysis", the integration of technical and fundamental approaches, as the most complete way to analyze markets.

• The path of technical analysis toward institutional recognition is quite similar to Bitcoin’s. Both faced years of skepticism before regulators (SEC) acknowledged their legitimacy.

• Steve Nison, who was among the first to receive the CMT designation, is a renowned author and speaker who claims the distinction of pioneering candlestick charts to the Western world. Steve has authored three books, including the widely-known Japanese Candlestick Charting Technique. He is also an expert on Western technical analysis with over 30 years of real-world experience.

• Regarded as one of the foremost technical analysts in the world, Steve’s client list includes Fidelity, J.P. Morgan, Goldman Sachs, Morgan Stanley, NYSE and NASDAQ market makers, hedge funds and money managers.

Written by _OnChain

Large XRP outflows accelerated again in late March, marking the strongest wave of whale-sized withdrawals since the heavy activity seen in early February.

My previous February update highlighted a major spike on Feb. 6, when large XRP outflows reached about 530 million XRP in a single day, followed by a March phase where daily withdrawals were averaging close to 50 million XRP.

On March 27, Binance recorded 85 million XRP in outflows from transfers above 1 million XRP, worth around $113.9 million at an XRP price of $1.34.

On the same day, Coinbase recorded 138 million XRP, equal to about $184.9 million.

Together, that brought the daily total to nearly $298.8 million.

On March 30, Binance recorded another 49 million XRP in large outflows, worth about $65.7 million, while Coinbase saw 170 million XRP withdrawn, equivalent to roughly $227.8 million.

That pushed the combined daily total to around $293.5 million.

Across those two sessions, total large XRP outflows from Binance and Coinbase reached about 442 million XRP, worth nearly $592.3 million.

This comparison helps frame the latest move more clearly.

The late-March outflow wave was still below the exceptional 530 million XRP spike seen on Feb. 6, but it was meaningfully stronger than the roughly 50 million XRP daily pace that characterized much of March afterward.

From a market structure perspective, outflows of this size matter because they suggest that a large amount of XRP was moved away from exchanges rather than left available in immediate sell-side liquidity.

When this kind of activity reappears after a quieter stretch, it usually points to a renewed pickup in whale-level movement.

The late-March readings therefore stand out as the clearest return of large XRP withdrawals since the early-February surge, with exchange outflows rising back to levels significant enough to matter for short-term supply conditions.

Written by Amr Taha

Over the past few days, Bitcoin has been in a fairly neutral state, but with a cautious bias.

Price is still moving around the $67K area, which means there is no clear sign of a major trend breakdown yet. However, the key point to watch is that the Coinbase Premium Index-EMA(30) remains below the 0 level. This suggests that buying pressure from U.S. investors on Coinbase is not truly strong at the moment, or at least not strong enough to give the sense that “active buying flow is coming back” like in previous breakout phases.

Historically:

- After the previous sharp drop in the premium, the index did recover.

- However, that recovery did not last long and is now turning lower again.

- Meanwhile, BTC price has only seen a technical rebound and is moving sideways rather than extending its upside momentum.

The market is not outright weak yet, but it also has not shown a solid confirmation of strength returning.

If the premium stays negative, there is a high chance that BTC will continue to trade in a choppy manner, with weak rebounds, and it will be difficult to get a sustainable breakout in the short term.

Written by nghialee

The 30-day liquidity index (30D Liquidity Index) for XRP on Binance indicates a significant decline in market depth, with the index dropping to approximately 0.062, one of its lowest levels in recent periods. This decrease reflects weakening available liquidity within the market, meaning that buy and sell orders are less dense compared to periods of higher liquidity.

Meanwhile, the 30-day turnover index (turnover_30d) stands at approximately $4.46 billion, a relatively low level that reflects a clear decline in trading activity. The combination of low turnover and reduced liquidity suggests weak participation from both institutional and retail traders.

A decline in liquidity typically indicates that the market is becoming more sensitive to price movements, as relatively large trades can trigger sharper price swings. Similarly, a lower turnover rate reflects reduced capital flow within the market, which could contribute to continued stagnation or a weaker price trend in the near term.

The liquidity index reaching such low levels may also signal a potential accumulation phase, as markets sometimes experience reduced liquidity before larger price movements occur once trading activity returns. With the liquidity index falling to 0.062 and the turnover rate declining to $4.46 billion, the XRP market appears to be experiencing a clear period of weak activity, which could pave the way for sharper price movements if liquidity returns and trading volumes increase in the coming period.

Written by Arab Chain

• Renko is a Japanese charting method from the 19th century, introduced to the Western world by Steve Nison in his book Beyond Candlesticks (1994). His work was later continued by Prashant Shah, CMT and CFTe. The key distinction is dimensional: candlesticks are two-dimensional, as they use both time and value. Renko is one-dimensional. It only plots a new brick when value moves by a defined amount, removing time from the equation entirely. This makes it a "noiseless" chart. This method is particularly effective for identifying trend changes.

• Here, I apply a Renko chart to a price smoothed by on-chain data (Realized Price - UTXO Age Bands), in order to visualize Bitcoin’s prevailing trend more clearly (behind raw price movements).

• Insight: On the $5K Renko chart, the last time this Realized Price (a price smoothed by on-chain data - UTXO Age Band) closed below (4) its most recent higher low (2), after an ATH in raw price (3) and two years since the last halving (1), was in May 2022.

• If you want to know technically why this Realized Price is displayed using Renko Chart, check the link below ↓

Written by _OnChain

Neskatoties uz apmēram 15% korekciju, zelta cena joprojām ir uzmanības centrā finanšu tirgos.

Šo dinamiku galvenokārt virza ģeopolitiskās spriedzes, kas saistītas ar konfliktu Irānā, kuru ekonomiskās sekas sāk izplatīties globāli.

Šajā kontekstā zelts turpina tikt uztverts kā drošs aktīvs, piedāvājot aizsardzības formu pret inflācijas risku, kas tiek uzskatīts par augstu un grūti kontrolējamu.

Šī redzamības trūkums, apvienojumā ar pieaugošo globālo nenoteiktību, turpina atbalstīt strukturāli spēcīgu pieprasījumu pēc zelta, veicinot atvasināto risinājumu attīstību, kas ļauj investoriem iegūt ekspozīciju pret to, piemēram, tos, ko tagad piedāvā Binance.

In the crypto market, “altcoins” refer to all assets other than Bitcoin. While major assets like Ethereum, Solana, and XRP are included, they are fundamentally treated as higher-risk assets relative to BTC. In practice, analysis often focuses on top altcoins with sufficient liquidity and reliable data.

As of 2026, the market is in a validation phase with no clear trend. Bitcoin has held within a range without entering a strong uptrend, while altcoins remain under deeper pressure.

This divergence is evident in the CEX Volume Ratio (Altcoins vs BTC), developed by CryptoQuant CEO Ki Young Ju. The ratio has declined significantly since the 2021 peak, indicating a structural shift in capital preference from altcoins to Bitcoin. This reflects not just outflows, but a broader risk-off positioning across the market.

Further confirmation comes from the “Altcoins near ATL” metric by CryptoQuant analyst Darkfost. Currently, about 38% of major altcoins are trading near their historical lows. Importantly, this reflects widespread unrealized losses rather than simply low prices.

Historically, such levels appear during late bear phases, suggesting that altcoins may be in an advanced stage of sell-side exhaustion. However, the persistently low volume ratio indicates that broad demand recovery has not yet occurred.

The base scenario remains a BTC-led range environment. While altcoins may be nearing a structural bottom, sustained recovery is unlikely without renewed capital inflows and rising trading activity.

If BTC weakens structurally, altcoins could face further downside due to their relative fragility.

At present, the market reflects an asymmetric structure: BTC holding, altcoins already adjusted.

The base case is continued BTC-led consolidation. However, if altcoin volume expands and the ATL ratio declines simultaneously, this view should be reassessed.

Written by XWIN Research Japan

Bitcoin begins the month of April priced at $68,077.71, showing a slight recovery of +0.5% in the last 24 hours, after absorbing a weekly retracement of -3.88%. When we look at the order flow, the market reading becomes extremely clear and optimistic: Binance derivatives open the month with the Longs in control.

To understand the weight of this metric, the Taker Buy/Sell Ratio hitting 1.10 on Binance means that the volume of buy orders executed at market (Taker Buys) is surpassing market sales (Taker Sells) by an expressive 10%. It is the pure buying aggression of the bulls consuming the liquidity of the book. Furthermore, the 7-day moving average (SMA7D) sustained at 1.06 on the exchange reinforces that this strength is not a "short-lived rally" [translating the idiom "voo de galinha"] or an isolated bounce, but a continuous demand throughout the entire week.

CONCLUSION

This aggressive momentum, led by the volume of the largest centralized exchange in the world, influences the global market. The aggregate ratio of all exchanges (All Exchanges) rose to 1.03, breaking its own SMA7D, which had been repressed in seller territory at 0.98. This turning point in the macro flow — leaving a contraction average for a clear dominance of market purchases — is the classic signature that the bottom of the weekly correction may have been marked. Liquidity has returned, and risk appetite gives strong signs that it intends to dictate the direction of the trend.

Written by GugaOnChain

• On the $5K Renko chart, the last time this Realized Price (a price smoothed by on-chain data - UTXO Age Band) closed below (4) its most recent higher low (2), after an ATH in raw price (3) and two years since the last halving (1), was in May 2022.

• If you want to know technically why this Realized Price is displayed using Renko Chart, check the link below ↓

Written by _OnChain

Bitcoin miner transfers to Binance have once again moved above 23,000 BTC, marking the fourth major spike since the second half of 2024.

The largest miner to Binance flow events were:

August 5, 2024: around 24,000 BTC

November 12, 2024: around 27,200 BTC

February 25, 2025: around 23,300 BTC

February 5, 2026: around 23,151 BTC

What stands out is that each of these spikes was followed, after a relatively short period, by stronger Bitcoin prices.

At first glance, large miner inflows to Binance may look bearish because they suggest higher sell-side activity.

But the historical pattern on this chart points to a more balanced interpretation.

In these cases, the market absorbed the added supply without falling into a deeper breakdown.

Instead, Bitcoin often stabilized, defended key levels, and later moved higher.

That reaction matters because miners are not ordinary holders.

They operate like capital-intensive companies with large recurring costs.

Selling part of their mined Bitcoin in phases is often necessary to maintain operations.

When Bitcoin trades above mining cost, miners can realize profits to cover electricity bills, buy newer machines, and expand capacity. During strong market phases, this becomes even more important as they compete to secure more efficient hardware.

In weaker periods, lower hardware prices can also encourage smart miners to upgrade equipment in preparation for the next cycle.

The key signal is the market’s response after the transfer.

Despite these large flows to Binance, Bitcoin did not break into fresh lower levels after those spikes.

Instead, demand was strong enough to absorb miner-related selling pressure and contain downside.

So far, the pattern suggests that miner flows to Binance above the 23K BTC zone have not led to sustained weakness.

Instead, they have tended to mark periods where supply was absorbed efficiently and Bitcoin later regained upward momentum.

Written by Amr Taha

Data indicates a significant rise in the Bitcoin Estimated Leverage Ratio on the OKX platform. On March 27, the index reached its highest level since 2023, signaling increased leverage usage within the platform's derivatives market.

The OKX Estimated Leverage Ratio climbed to approximately 0.372, marking its highest point since 2023.

This surge suggests a strong return of speculative activity to the OKX platform, with traders increasingly relying on leveraged positions, which raises the potential for significant market volatility. Historically, high leverage levels often lead to a greater likelihood of large-scale liquidations in both directions, especially when large positions accumulate in one direction.

However, this surge was short-lived, as data later showed the leverage ratio falling back to 0.341, reflecting a partial decline in leverage usage on the OKX platform. This decline may indicate limited liquidations or traders reducing their positions after a sharp rise in risk levels.

a continued rise in the Estimated Leverage Ratio suggests a return of investor appetite for derivatives trading on the platform. As traders increasingly rely on leveraged positions, speculative activity tends to grow, often in anticipation of larger price movements.

Written by Arab Chain

The Fund Flow Ratio becomes far more useful when it is read as a regime-reset indicator, not just as a proxy for “exchange activity is high or low.”

By definition, it measures the share of Bitcoin network activity tied to exchanges. High readings usually reflect a market dominated by trading, repositioning, speculation, and profit realization. But the more interesting signal in this chart is what happens when that activity cools back toward ~0.065.

Historically, that zone has repeatedly acted as a structural reset level during broader bullish cycles. I highlighted the following zones: late 2017/early 2018, several points in 2019, late 2020, mid-2023, and now again in 2026.

In each prior case, when the 30d Fund Flow Ratio compressed into that area, BTC was either finishing a corrective phase or moving through a consolidation that later resolved higher. That distinction matters.

A falling Fund Flow Ratio does not automatically mean bearishness. It can mean that speculative churn is being flushed out, coins are moving less aggressively through exchanges, and the market is transitioning from distribution/noise back into tighter supply and cleaner positioning.

This is why the current setup deserves a more precise read. Since the late-2025 peak in Fund Flow, BTC has corrected sharply while the ratio has continued to trend lower, now returning toward the same ~0.065 area that previously marked important reset zones. What this says is that the correction has not been accompanied by a renewed expansion in exchange-relative activity. That weakens the idea of broad panic distribution and instead suggests that the market has been undergoing a participation washout.

BTC may be completing another internal reset inside a larger cycle, with diminished speculative froth and a better base for re-acceleration. If it breaks materially below prior support, then this time the contraction would look less like a healthy reset and more like a deeper deterioration in market engagement.

Written by MorenoDV_

Looking at the Bitcoin Spot Average Order Size chart (CryptoQuant), we can observe that:

From below 10/2025, when order sizes were only around the low tens to ~126K, Big Whale Orders suddenly took over and have remained dominant for more than 5 months.

This suggests that:

✅ Whales are quietly accumulating in lower price zones

✅ Retail investors are being driven by emotions, chasing pumps or panic selling

✅ Spot liquidity is gradually shifting from the crowd to smart money

At the moment (early April 2026), BTC is moving sideways around $65K–$70K, while Big Whale Orders remain highly active.

Written by nghialee

BTC pašlaik tiek tirgots ap $66K–$68K, kamēr ETH ir ap $2,100–$2,130. Bet aiz cenu kustības iekšējā aina kļūst arvien novirzītāka:

1. BTC mazumtirdzniecības investors:

Dati no CryptoQuant rāda, ka mazumtirdzniecības investoru pieprasījums (pārsūtīšanas apjoms $0–$10K diapazonā) pēdējo 30 dienu laikā ir bijis negatīvs vai ļoti zems. Lai gan cena ir piedzīvojusi vairākus spēcīgus pieaugumus, pirkšanas spiediens no mazumtirdzniecības investoriem ir acīmredzami ievērojami vājinājies.

Savukārt, biržas vaļu attiecība (vaļu ieplūdes uz biržām attiecība) pašlaik ir augstākajā līmenī daudzu mēnešu laikā → tas nozīmē, ka vaļi izrāda daudz lielāku kontroli pār kapitāla plūsmām. Šajā posmā BTC tirgu galvenokārt virza vaļi un institūcijas, ar mazākām kustībām no mazumtirdzniecības pūļa.

Recently, Bitcoin has been recovering from a drop around the $68K level. At the same time, exchange reserves are increasing. In other words, inflows to Binance are rising. As you know, whales and institutional players primarily use Binance due to its high liquidity, which makes this chart particularly important.

An increase in exchange reserves indicates that investors are moving their coins from cold wallets to exchanges, effectively activating the option to sell. While this does not directly mean selling, the fact that reserves increase even during small price rises of 1–2K shows that sell-side liquidity is building up.

In a healthy uptrend, reserves typically decline as price rises. However, here we see the opposite. Supply is entering the market during the rally. It appears that whales may be using these relief rallies as opportunities to sell.

This structure has appeared several times on the chart. When it does, rising reserves have generally created downward pressure on price.

Under current conditions, it suggests that the recovery is being met with selling pressure and that the downtrend may continue.

Written by PelinayPA

There is one chart to particularly monitore for assessing the health of the market at a glance : the Bull Score Index.

It is an index that aggregates several key market metrics and converts them into a single score.

After a full market reset phase between December and February, during which the Bull Score fell to 0, market dynamics now appear to be improving.

Today, the index has returned to neutral territory with a score of 40. A score between 40 and 60 is generally considered neutral.

This suggests that, at current market valuations, more and more investors are starting to see value in gaining exposure again.

In other words, it may indicate that the end of the bear market is getting closer.

That said, this is not a tool designed to time the market.

However, historically, when the market entered a deep bear regime (score below 30), those periods often represented interesting entry opportunities.

We can therefore consider that we may now be entering a regime where implementing an exposure strategy start to makes sense, while still remaining cautious given the current tensions affecting global markets.

Written by Darkfost

[Summary]

Bitcoin's "Supply in Profit" has hit a multi-year floor, while "Supply in Loss" is spiking. This alignment has historically marked the terminal phase of market corrections.

🔍 On-chain Quick View

Realized Price Support: BTC is currently testing the $54.1k Realized Price (Yellow Line). Historically, this level serves as the ultimate macro support for bull cycles (2019, 2020, 2023).

Supply in Profit (56.9%): This metric has plummeted to the 50% threshold. Whenever profit levels drop this low, it signals that speculative froth is gone and "weak hands" have fully exited.

Supply in Loss (43%): Nearly half of the total supply is now "underwater." This level of widespread loss is a classic precursor to a macro bottom.

💡 The Bottom Line

We are witnessing a "Maximum Pain" scenario. Every time these three indicators aligned in this zone, a major trend reversal followed. The current setup confirms we are in a high-conviction value zone, not a momentum trap.

When 40%+ of the supply is in loss, the bottom is closer than it feels.

Written by 우민규 Woominkyu

The current situation in the share of profitable Bitcoin coins looks weak, but the market has not yet reached a full reset scenario. As of April 1, 2026, the metric has recovered to 66.4%, while the 30DMA stands at 69.1%. The key reference point here is the 365DMA, which remains at 87.5%. That is what fundamentally separates the current phase from the true structural reset seen in past cycles.

In previous cycles, it was the SMA365 that signaled a full reset in market structure. After peaking in the 96-97% range at the end of 2017, it declined steadily and fell to 63.8% by May 2019. That was a real reset: the average annual share of profitable coins compressed sharply, confirming a deep market cleansing after the end of the bull cycle.

The current picture is different. Despite the sharp decline in the metric itself and weakness in the 30DMA, the SMA365 remains abnormally high at around 87.5%. This suggests that the network’s average annual profit structure has not yet entered a full capitulation regime.

The contrast becomes even clearer when looking at the three drawdowns of this cycle. In September 2023 and September 2024, the market put pressure on short-term profit structure, but did not break the long-term average. The current 2026 drawdown looks deeper in the underlying metric: the low has already reached 55.7%, while the 30DMA fell to 66.7%. However, the SMA365 still remains far above the reset zone of the previous cycle.

The conclusion is straightforward: the market is going through a severe internal compression in profitability, but by the 365DMA standard, it is still far from a true structural reset. As long as the long-term average holds near 87.5%, this is better described as a prolonged cyclical correction with elevated two-way volatility, rather than a full bearish-phase reset.

Written by AxelAdlerJr

If you’ve been watching crypto-related stocks, CRCL likely caught your attention. The stock surged from around $50 to roughly $140 (+175%) in just a few weeks. Then suddenly, it dropped to $100 (-40%). During the sell-off, Circle saw its second-largest volume spike since July 2025.

What happend?

- CRCL sold off after a leaked CLARITY Act document suggested tighter limits on stablecoin reward programs. At the same time, Tether announced it will undergo a Big Four audit, strengthening its credibility and competitive positioning. While the news flow was chaotic, the move also has the characteristics of a classic shakeout after an overheated rally.

In summary 👇

- A leaked CLARITY Act draft introduced potential restrictions on stablecoin rewards (yield)

- Rewards are key for user adoption and distribution

- Tether’s audit progress weakens part of Circle’s “compliance premium”

- The stock was crowded on the long side after a strong run

This move is likely a mix of regulatory repricing, competitive pressure, and profit-taking after an outsized rally. This won’t change the long-term stablecoin thesis, but the playing field is shifting.

Written by maartunn