CryptoQuant Quicktake

The number of daily BTC transactions has surged from 300,000–400,000 in January of this year to 550,000–900,000 in June and July, indicating a clear uptick in trading activity 📈
However, the number of active addresses hasn’t increased in tandem; instead, it has actually contracted slightly.
What does this mean?
It appears more like “existing capital being reallocated more frequently” rather than “a massive influx of new users.”
Exchange activity has also been relatively subdued: net outflows of about 1,000 BTC in June and about 6,000 BTC in July. Selling pressure is light, and there’s even a slight tendency toward accumulation, though the intensity doesn’t yet qualify as institutional-level aggressive accumulation.
In terms of valuation, the MVRV ratio sits between 1.15 and 1.25, which is significantly lower than last October’s peak—there is no overbought condition, but we also haven’t seen evidence of aggressive capital inflows yet.
Conclusion: The on-chain structure is neutral, with no panic selling; however, the divergence between rising volume and stagnant prices reminds us that a reversal is not yet in sight. Other data even suggests that the consolidation phase may extend throughout August.So for now, everyone should remain patient, avoid excessive trading, and wait quietly for favorable conditions to emerge.
Written by Sunny Mom

Bitcoin spot volumes on Binance and other major exchanges have dropped to very low levels, similar to those seen in 2023 coming out of the bear market.
This is a first signal pointing to the current lack of interest in Bitcoin.
Even though volumes are declining, it’s still interesting to note that altcoins now represent the largest share of volume on Binance.
In May, Bitcoin dominated trading and accounted for nearly 40% of volumes compared to ETH and altcoins.
Today, altcoins dominate volumes at over 60%, compared to just 22% for Bitcoin and 18% for ETH.
Investor boredom is setting in. Bitcoin has barely moved for weeks, and some seem to be favoring altcoins, likely hoping to take advantage of the little volatility present in the markets.
It’s worth noting that altcoins have corrected much more sharply than
Bitcoin, so some investors are betting they can outperform Bitcoin by positioning in altcoins instead.
A risky bet, but one that can pay off for those who manage to handle their positions strategically.
Written by Darkfost

The latest Binance Netflow/Reserve Ratio remains close to zero, indicating that Bitcoin inflows and outflows are small relative to Binance's total reserves. This suggests that the market is experiencing neither significant selling pressure nor aggressive accumulation.
Netflow volumes also remain modest compared to previous periods, when transfers frequently exceeded 15,000 BTC. This indicates that whales and institutional investors are not moving large amounts of Bitcoin to or from Binance.
At the same time, the lack of deeper negative netflow readings shows that there is no substantial withdrawal of BTC from the exchange, meaning supply is not tightening significantly. Likewise, weak positive netflows suggest there is no meaningful increase in exchange deposits that would signal large scale selling.
Overall, Binance's Netflow and Netflow/Reserve Ratio paint a neutral picture. Selling pressure remains limited, but there is also no strong reduction in exchange supply to support a sustained rally. As a result, Bitcoin continues to reflect a consolidation phase from a netflow perspective.
In short, on-chain exchange flows are not currently providing a strong bullish or bearish signal. The next meaningful move in Bitcoin is therefore more likely to depend on stronger demand, rather than changes in Binance netflows alone.
Written by PelinayPA

XRP’s derivatives market is operating with significantly lower leverage than during the major expansion phases of 2025, as open interest across leading exchanges remains well below previous peaks.
On July 31, XRP open interest in stablecoin-margined contracts on Binance declined to approximately $186 million, its lowest level since April 2025. Bybit recorded the largest position among the three leading exchanges at around $229 million, exceeding Binance by roughly $43 million, while OKX open interest stood near $49 million.
The figures indicate that leveraged XRP activity is currently concentrated mainly on Bybit and Binance, which together account for nearly 89% of the combined open interest across Bybit, Binance, and OKX.
Lower open interest suggests that XRP is trading with a lighter leveraged-position base compared with 2025. However, open interest alone does not determine the next price direction and should be evaluated alongside funding rates, trading volume, liquidations, and spot-market demand.
Written by Amr Taha

Becoming a wholecoiner, meaning an investor who holds more than 1 BTC, is becoming increasingly difficult over time.
Bitcoin's market cap keeps rising and holding a full 1 BTC isn't within reach of every investor.
Wholecoiners will keep becoming rarer over time.
But what this chart highlights here is more their activity, through their inflows on Binance, the exchange holding the largest BTC reserves with more than 654 000 Bitcoin.
The average annualized inflows of wholecoiners on Binance are reaching historically low levels, comparable to those of 2018.
Between 2021 and today these inflows went from 15 400 BTC to just 6 000 BTC, a reduction of more than 61%.
What's striking is the difference between the 2021 cycle and this one.
In 2021 these wholecoiners' inflows on Binance increased as Bitcoin's price climbed. During this cycle these average inflows have kept falling.
Inflows were 3 times higher than today during the bear market and a bit after.
This drop in activity suggests that as the number of wholecoiners indeed decreases, their inflows decrease as well.
This could also be linked to the arrival of ETFs, since a clear decline can be seen starting early 2024.
In any case, this situation reflects well the decrease in on chain activity of wholecoiners, who could become a species on the verge of extinction over time.
Written by Darkfost

When normalizing the path from the Halving to the cycle bottom, the 2024 cycle remains ahead of the bottoming windows seen in 2016 and 2020. What matters here is not just timing, but market psychology: the market is exhausted, yet it has not reached full capitulation.
For now, the cycle data only suggests that downside risk remains. It is still too early to conclude that a bottom has formed.
Don’t confuse “the price has fallen significantly” with “the market has bottomed.”
Written by Rei Researcher

Bitcoin’s Short-Term Holder Realized Cap fell to $249.7 billion on July 31, marking its lowest reading since October 7, 2024, when the metric stood at $244.4 billion.
The latest reading is the first move below $250 billion in nearly 22 months and leaves the metric just $5.3 billion above its October 2024 low.
The decline is also substantial compared with late-2025 levels, when Short-Term Holder Realized Cap exceeded $600 billion.
Since then, the metric has contracted by more than $350 billion, reflecting a major reduction in the realized capital base associated with recently active Bitcoin holders.
The divergence is notable because Bitcoin remained near $64,700, meaning the short-term holder capital structure has returned close to October 2024 levels while the market price is still above $64,000.
The downtrend developed throughout 2026 and accelerated in recent months, turning the July 31 reading into the continuation of a broader structural contraction .
Short-Term Holder Realized Cap measures the aggregate cost basis of coins currently classified within the short-term holder cohort.
Its decline does not represent an equivalent amount of capital leaving Bitcoin, but it does indicate a significant reset in the cost-basis structure of recently active supply.
Written by Amr Taha

XRP Withdrawal Transaction Share Hits Highest Since February 2021 as Binance Reaches 55.6%
XRP withdrawal transactions gained their strongest dominance in more than five years on July 31, as the seven-day share on Binance climbed to 55.6%, its highest level since February 2021.
The same shift appeared across the broader centralized exchange market, where withdrawal transactions reached 54%, also marking their highest share since February 2021. The synchronized move indicates that the change was not limited to a single trading venue.
At the same time, XRP deposit transaction shares fell to multi-year lows.
Binance’s deposit share declined to 44.3%, while the aggregate figure across all centralized exchanges dropped to 45.95%—the lowest readings for both metrics since February 2021.
This created an 11.3-percentage-point gap between withdrawal and deposit transactions on Binance, compared with approximately 8.05 percentage points across all exchanges.
Binance’s withdrawal share also stood 1.6 percentage points above the market-wide average, while its deposit share was roughly 1.65 percentage points lower.
The shift accelerated sharply during the final weeks of July rather than developing gradually, with withdrawal shares rising as deposit shares moved in the opposite direction.
The divergence is particularly notable because XRP was trading near $1.08, well below its previous price highs, suggesting that exchange transaction behavior was changing despite continued price weakness.
However, the metric tracks the number of deposit and withdrawal transactions, not the volume of XRP transferred or confirmed net exchange flows.
It therefore signals a major change in transaction structure but does not, by itself, prove accumulation, reserve declines, or net capital movement away from exchanges.
Written by Amr Taha

Ethereum open interest across all exchanges stood at $11.83 billion as of July 31, 2026, with price near $1,906, marking a modest recovery from the sub-$10 billion lows hit earlier in the summer even as the metric remains well below its 2025 peak.
Open interest tracked price closely through 2025, climbing from roughly $17-20 billion in early 2025 toward a peak above $30 billion in August-September as ETH pushed toward $4,500. Both metrics then declined together into year-end, before a sharper break lower in early 2026 pulled open interest down to the $10-11 billion range alongside a price drop from the $3,000s to the $2,000 area. A partial rebuild followed through spring, then another leg down in June pushed open interest back toward cycle lows before the current stabilization.
This pattern of leveraged positioning contracting roughly in step with price suggests deleveraging rather than a divergence-driven setup. The current $11.83 billion level sits closer to the depressed readings seen in February and April 2025 than to the elevated positioning of last summer, indicating that speculative leverage in ETH derivatives markets remains comparatively light relative to the size of the market earlier this cycle.
The honest read is that lighter open interest cuts both ways. It reduces the risk of a leverage-driven cascade in either direction, but it also signals reduced conviction and thinner liquidity, meaning price moves from here may be more sensitive to spot flows than to derivatives-driven momentum until positioning rebuilds meaningfully.
Ethereum's open interest stabilizing near $11.8 billion after months of contraction points to a derivatives market that has largely reset, leaving room for renewed leverage to build in either direction depending on how price behaves from current levels.
This reflects my own views. Not financial advice.
Written by Rich_dady

The FOMC left interest rates unchanged as expected, but the Fed’s tone was interpreted as more hawkish than markets had anticipated. Bitcoin volatility increased after the decision, yet derivatives and on-chain data show that traders had entered the meeting without a strong directional conviction.
Four indicators help explain the setup.
First, Bitcoin’s taker buy-sell ratio remained near 1.0, showing that aggressive buyers and sellers were almost evenly balanced. The market was waiting for a catalyst rather than positioning decisively.
Second, perpetual-futures activity showed only a mild short bias. Bears repeatedly failed to push Bitcoin below the $62,000–$63,000 support zone, indicating that selling pressure lacked conviction.
Third, funding rates remained positive. This suggested that underlying demand for long positions had not disappeared, although persistent positive funding also left crowded longs vulnerable to sudden liquidations.
Finally, exchange inflows stayed relatively low. There was no clear sign that holders were rushing to move Bitcoin onto exchanges for immediate selling.
Together, these indicators showed a market coiled ahead of the Fed: cautious, balanced, and waiting. The post-FOMC volatility did not emerge from strong bearish positioning, but from a neutral market rapidly repricing a more hawkish policy message.
Written by XWIN Japan

ETH has traded between 1,840 and 1,953 over the past two weeks, currently sitting near $1,908. The staking rate has crept steadily from 33.44% to 33.90%, suggesting continued gradual asset lock-up.
Over the same window, aggregate exchange netflow (netflow_all) has been negative on most days, while the Coinbase premium index has slipped further to -0.12 - a combination that may point to relatively softer US spot demand versus the broader market.
A more notable shift appears in the 90-day structural data: Binance - still the deepest and most closely watched venue for ETH stablecoin settlement - saw its stablecoin netflow (stable_netflow_binance_netflow_total) fall 518% week-over-week, 347% versus the monthly baseline, and 728% versus the quarterly baseline, among the largest structural moves across the 148 metrics tracked. Because Binance’s order book depth typically makes it the first place large flow shifts become visible, this reversal offers an early read on where stablecoin liquidity may be repositioning.
At the same time, weekly fees_burnt_total_usd rose roughly 48%, though it remains about 54% below its 90-day average, and large-holder exchange activity (inflow/outflow_top10) is trending lower across all three windows - weekly, monthly, and quarterly.
Taken together - thinning stablecoin liquidity on Binance, a weaker Coinbase premium, and declining large-holder exchange participation - these conditions resemble prior phases that historically preceded price consolidation ahead of a directional resolution. This combination doesn’t guarantee a bullish or bearish outcome, but it may mark a transitional zone worth monitoring as the next phase develops.
Written by CryptoOnchain

XRP’s whale-versus-retail spread on Binance climbed to 45% on July 30, surpassing the 35.9% aggregate reading across all centralized exchanges for the first time since June 7.
The crossover created a 9.1-percentage-point premium for Binance over the broader CEX benchmark.
This marks a notable shift in the relative concentration of whale activity compared with retail participation on the platform.
Importantly, the indicator is calculated using a seven-day moving average, meaning the crossover reflects a change that developed across several trading sessions rather than a single-day fluctuation.
The metric does not independently confirm whether large participants are buying or selling.
However, the renewed divergence shows that XRP’s whale-retail structure on Binance has recently strengthened relative to the wider centralized-exchange market.
Written by Amr Taha

Bitcoin's MVRV ratio stood at 1.207 as of July 27, 2026, with price near $63,701, placing the metric just above the historically undervalued band below 1.0 and far removed from the overheated zone above 3.7 that has marked prior cycle tops.
The ratio peaked above 3.7-4.0 near the early 2021 top, then again approached similar levels near the 2025 cycle high before rolling over sharply. Over the past several months MVRV has compressed from the high-2 range down toward 1.2, a decline steep enough to bring it within range of levels that historically preceded the tail end of prior drawdowns in 2019, 2022, and briefly in late 2022.
This positioning suggests the market has priced out much of the excess built up during the 2025 rally, with realized value now sitting much closer to market value than at any point since the 2022 bear market. Historically, readings in the 1.0-1.3 range have coincided with periods where aggregate holder profit has thinned considerably, often setting up either a basing phase or, if the decline continues, a push into the undervalued sub-1.0 zone last seen in 2022.
The honest risk is that momentum has been persistently negative for months, and MVRV has not yet reached the sub-1.0 threshold that has historically marked capitulation extremes. A break below 1.0 would put the ratio in territory associated with deep bear-market lows, meaning the current level, while compressed, may not yet represent the full extent of this cycle's reset.
Bitcoin's MVRV ratio sitting near 1.2 signals a market that has unwound much of its prior excess valuation, with the sub-1.0 undervalued zone now within reach if the decline persists.
This reflects my own views. Not financial advice.
Written by Rich_dady

Bullish??
Written by Crypto_Lion

Bullish
Written by Crypto_Lion

uhhh
Written by Crypto_Lion

Before 2024, Bitcoin had never reclaimed its previous all time high ahead of a halving.
Previous recoveries took:
2013 to 2017: 1,181 days
2017 to 2020: 1,097 days
2021 to 2024: 851 days
The latest recovery arrived 42 days before the 2024 halving, marking a first in Bitcoin’s history.
Each recovery has taken less time than the one before it. This does not guarantee that the pattern will continue, but it suggests that Bitcoin’s market cycle may be changing.
If recovery periods continue to compress, buyers waiting for another prolonged accumulation window may need to reconsider how long those opportunities remain open.
Written by Andrew Kamsky

Before 2024, Bitcoin had never reclaimed its previous all time high ahead of a halving.
Previous recoveries took:
2013 to 2017: 1,181 days
2017 to 2020: 1,097 days
2021 to 2024: 851 days
The latest recovery arrived 42 days before the 2024 halving, marking a first in Bitcoin’s history.
Each recovery has taken less time than the one before it. This does not guarantee that the pattern will continue, but it suggests that Bitcoin’s market cycle may be changing.
If recovery periods continue to compress, buyers waiting for another prolonged accumulation window may need to reconsider how long those opportunities remain open.
Written by Andrew kamsky

Bitcoin spot trading activity has fallen to its weakest levels in months across major centralized exchanges, pointing to a broad contraction in market participation rather than an isolated decline on a single platform.
According to seven-day average data, Bitcoin spot volume on Binance declined to approximately $1.16 billion on July 29, its lowest level since October 2025. Across a group of more than 16 centralized exchanges excluding Binance, combined volume dropped to $3.7 billion—the lowest reading since July 2024.
The deeper historical low recorded outside Binance suggests that reduced activity has spread across the wider spot market.
Binance, however, continued to hold substantial market weight: its volume was equivalent to roughly 31% of the combined volume recorded by all other tracked exchanges, representing nearly 24% of total observed activity.
The reading coincided with the Federal Reserve’s latest policy decision.
The Fed maintained its target rate at 3.50%–3.75%, but the decision passed by a 9–3 vote, with three members supporting a 25-basis-point increase.
The unusually divided vote kept the prospect of further monetary tightening in focus, reinforcing uncertainty around liquidity conditions for risk assets.
Because the volume indicator represents a seven-day average, the decline cannot be attributed solely to the Fed announcement. However, the absence of a meaningful recovery around one of the month’s most closely watched macroeconomic events indicates that Bitcoin spot traders remain cautious and selective.
The central signal is clear: Bitcoin is experiencing a market-wide decline in spot participation, while Binance continues to retain a significant share of the remaining trading activity.
Written by Amr Taha

Data from CryptoQuant shows that the number of Binance User Deposit Addresses has continued to increase significantly, recently reaching its highest level in several months.
This indicates that more and more addresses are transferring $BTC to Binance. In general, a rising number of deposit addresses reflects more active on-chain activity related to the exchange, but it does not necessarily mean that all of this $BTC will be sold immediately. If the number of deposit addresses continues to rise while Netflow also turns strongly positive, short-term selling pressure could increase significantly.
Written by Rei Researcher