On-Chain Forensics

On-Chain Forensics 25

Today we will be looking into the On Chain Forensics for BTC. With the price action being at ATH territory, we look to understand current investor sentiment and whether the market is overextended. Key Points The Exchange Net Position Change indicates that the accumulation phase has come to an end, with an expected neutral phase upcoming. The Exchange Balance (Percent) has flattened out, indicating that investors want to have liquidity easily available for profit booking. The majority of the market is currently in unrealised profit, and we are approaching euphoria levels. This could lead to certain investors look to book profit ‘early’, especially if they held through the previous crash. This profit booking can be seen from the long term investors, who have sold some of their holding. The selling is of insignificant size as it stands To summarise accumulation has turned to HODLing and slight profit booking. Conviction remains, with only marginal selling occurring from long term investors. More […]

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