On-Chain Forensics

On-Chain Forensics 24

You’ve all seen the recent BTC price action. Going back through previous reports, you’ll see how certain metrics highlighted this was on the way. Blockchain doesn’t lie. In today’s report, we will be looking into how the BTC price increase to above 60,000 USD has affected the sentiment and behaviour of investors. Key Points: The Exchange Net Position Change indicates that the aggressive accumulation that occurred when Bitcoin ranged between $40,000 – $50,000 has significantly slowed. Long-term investors, represented best by the 1-2 Year aged Coins cohort, have shown next to no interest in off-loading some of their Balances. HODLing remains their current sentiment. Whales have sold a small % of their holdings, but this selling volume is insignificant compared to the amount of Coins flowing into the Whale Wallets. The Puell Multiple indicates that there is still some distance till a market top; thus further upside should be expected.   Investors are still looking to add BTC to their […]

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