KoinMisteri

The price of Bitcoin fell from $109K to around $80K, but the hashrate and mining difficulty reached all-time highs.

The increasing difficulty may seem detrimental due to higher mining costs, but it reflects a strong fundamental in Bitcoin's intrinsic value, which is the strength of mining and the security of its network.

Ki Young Ju, CEO of CryptoQuant, revealed that the potential market capitalization of Bitcoin based on hashrate could reach $5 trillion.

With the current market capitalization at $1.6 trillion, the potential for growth remains significant.

Bitcoin reserves on Binance increased from 568,768 BTC (March 28) to 590,874 BTC (April 9), an increase of 22,106 BTC. This rise indicates a strong acceleration in the inflow of BTC to Binance. Investors appear to be actively moving funds to Binance, driven by macroeconomic uncertainty and ahead of the upcoming CPI announcement.

Although the market shows uncertainty, optimism towards BTC remains high. This surge in reserves could be an indication that investors see BTC as a hedge asset amid economic uncertainty. Thus, even though the global market is turbulent, BTC continues to demonstrate its appeal as a more stable investment option.

The spot trading volume of Bitcoin and altcoins has experienced a significant decline over the last two months, along with the correction in crypto prices. The spot trading volume of Bitcoin fell from $44 billion on February 3 to $10 billion at the end of Q1. Altcoins also saw a decline from $122 billion to $23 billion.

Amid this decline, Binance's dominance has increased, with its share of daily spot trading volume for Bitcoin rising from 33% to 49%. Binance has become the largest liquidity venue when market volatility is high.

Despite the correction in the crypto market, optimism towards Bitcoin remains. This movement shows that even though the market is sluggish, Bitcoin still has long-term potential.

The crypto market is experiencing turmoil again with the largest long liquidation for Bitcoin since the beginning of this bull cycle. On April 6, approximately 7,500 Bitcoin in long positions were liquidated, marking the largest single-day long liquidation during this bull run.

The main cause is increased volatility due to uncertainty surrounding Trump’s economic policies, particularly regarding tariffs. This serves as a clear reminder to remain vigilant during periods of heightened volatility like the current one.

However, amidst this uncertainty, optimism for BTC remains. It is important to preserve and protect your capital.

The crypto market is experiencing significant pressure this week, with Bitcoin down about 15% from $88,000 to $74,400. However, behind this price drop, there are important dynamics between short-term holders (STH) and long-term holders (LTH).

- On April 7, STH suffered significant losses, reaching $10.1 billion, while LTH increased their accumulation by $9.7 billion. This indicates a shift in ownership from weak hands to strong hands.

- On April 8, STH losses slowed down, showing signs of capitulation fatigue, while LTH continued to buy, adding $1.13 billion.

This difference indicates that long-term investors are confident in Bitcoin's potential, despite the volatile market.

Short-term investors continue to sell crypto assets at a loss, indicating medium/long-term opportunities. This intense selling period often becomes a good buying zone in a bull market.

If the cycle structure remains, buying below $80k could be equivalent to buying below $60k in 2024, and below $26k in 2023. However, this indicator can provide signals for several months, as it indicates areas rather than specific values in the short term.

Although the market is currently sluggish, optimism towards BTC remains, given the potential for future gains.

The crypto market is once again volatile. Recent data shows a significant spike in Exchange Inflow CDD, indicating movement of old coins. History shows that when old coins start to move, the market tends to experience selling pressure. The price of Bitcoin dropped from $82K to $76K after this spike. Is this a sign that long-term holders are preparing to sell again? Nevertheless, optimism towards BTC remains. Many analysts believe that despite the current market volatility, Bitcoin's long-term potential remains strong and could yield significant profits in the future.

The current altcoin market shows weaker performance compared to Bitcoin in terms of market capitalization growth. Recent analysis indicates the difference between the 365-day moving average and the 30-day moving average as a momentum growth indicator.

The current ratio has reached levels similar to those seen in October 2023. Historically, when this ratio turns negative, it often signals a strong correction, which can be a period of buying opportunity.

It is important to note that this view is a general overview of both large-cap and small-cap altcoins. Each altcoin should be analyzed separately and in its own context.

The decline in selling pressure from short-term Bitcoin holders is clearly visible. Short-term SOPR data and UTXO Age Band indicate that investors holding BTC for 1 to 3 months are starting to reduce their activity in the market. After taking profits from short-term trades, this group shows a decrease in the amount of Bitcoin being transferred.

Although the market is experiencing negative pressure, optimism towards Bitcoin remains. The reduction in selling activity by short-term investors could be a positive signal for BTC price stability in the future. With decreasing selling pressure, there is hope that Bitcoin can maintain its value even as the market is sluggish.

The current crypto market shows a worrying trend.

- Short-term holders are sending less BTC to Binance, only 6,300 BTC, compared to an average of 24,700 BTC to other exchanges. This indicates lower selling pressure on Binance.

- On the other hand, BTC inflow to other exchanges has increased, indicating different investor behavior depending on the platform.

- Although Binance has the highest trading volume, many investors seem to consider it a trusted exchange. However, the increased inflow to other exchanges indicates a change in investor preferences.

Optimism remains for BTC, despite the market showing uncertainty.

The current crypto market is showing negative pressure, particularly among short-term investors. The latest data indicates that Bitcoin holders who have kept their coins for 1 to 3 months are the most active sellers, realizing losses. This is a significant change as typically the most reactive sellers are those holding for less than a week.

However, realized losses are relatively low compared to unrealized losses. Selling pressure to exchanges is also decreasing, indicating that short-term holders prefer to hold onto their assets despite being in a losing position.

In previous cycles, significant losses often preceded local lows. The decrease in selling pressure may indicate a change in sentiment, with holders willing to endure short-term pain for long-term gains. If this trend continues, it could be the process of bottom formation, paving the way for stabilization or even price reversal.

Short-term holders currently have 28% of the circulating Bitcoin supply. If these assets shift to long-term holders, it could be a catalyst for a future surge in Bitcoin prices. The coming weeks will be crucial.

The crypto market is showing signs of significant change. The Value Days Destroyed (VDD) indicator for Bitcoin surged to 2.27 in December 2024, indicating long-term holders are realizing massive profits, a classic signal of a potentially overheated market. However, the decline in VDD to 0.65 in March 2025 suggests that the most intense profit-taking phase has passed.

Although selling pressure has decreased, the market is now entering a new phase. Lower VDD indicates that the market may be building a healthier foundation. However, history shows that this period could be followed by consolidation or new accumulation before the next major movement.

Traders should monitor whether VDD remains stable or shows new activity. The current trajectory of VDD indicates that Bitcoin is in a transitional period that could determine its medium-term direction.

The crypto market is facing serious challenges. The NVT Golden Cross indicator shows that Bitcoin's market capitalization is currently high, while network transaction volume is low.

This suggests that Bitcoin's price may experience inflation due to speculative activity. Conditions like this often indicate a potential price decline.

For short-term and long-term analysis, it is advisable to wait for the NVT indicator to move into the green zone. This zone indicates low market capitalization and increasing transaction volume, which usually presents a buying opportunity.

Currently, the NVT indicates that the likelihood of a decline continues, and the recent price increase has been driven by manipulation. For the upward trend to be sustained, transaction volume must increase.

The crypto market continues to experience a decline as a dead cross occurs in funding rates. This indicates that speculators prefer to avoid risks rather than take them. This condition reflects the uncertainty and caution that dominate the market currently.

However, there is a glimmer of hope for Bitcoin. When speculators return and begin to use leverage with high ambitions, the crypto bull market is predicted to come back to life. Analysts believe that Bitcoin has the potential to rise and lead the resurgence of the crypto market in the future.

The crypto market is showing signs of weakness with the Bitcoin MVRV ratio approaching its long-term historical average. Although the market has exited the overheating zone, there are no clear fundamental signals yet.

- In March, a "dead cross" occurred when the 30-day MVRV moving average fell below the 365-day average, indicating increasing downward pressure.
- This pattern is similar to previous cycles, where price declines occurred after a local peak was reached.

Investors are advised to remain cautious of further downside risks. However, optimism still exists for Bitcoin as this corrective pattern reflects past cycles, opening opportunities for long-term recovery.

Panic selling in the crypto market shows a decline, even though Bitcoin prices continue to drop. Recent data indicates that the inverted premium on Coinbase has decreased. This suggests that the panic selling of Bitcoin on the Coinbase exchange is starting to diminish, opening up the possibility of a trend reversal. Although the crypto market is currently in a negative state, there is hope that Bitcoin may strengthen again. On-chain analysts are observing this potential recovery as a positive signal for investors who remain optimistic about Bitcoin's future.

The crypto market is currently facing significant challenges. The SOPR (Spent Output Profit Ratio) indicator for short-term holders (STH) has been below 1 for more than two months, indicating that many STH are selling their assets at a loss. This ratio, which currently stands at 0.98, signifies capitulation among STH, which often triggers short-term price declines.

Additionally, there has been a significant increase of 46,000 Bitcoin sent to exchanges to be realized at a loss. Although market conditions seem bleak, optimism for BTC remains, with strong potential for long-term recovery.

The crypto market is currently showing a negative trend, especially for short-term investors. The STH SOPR (Short-Term Holder Spent Output Profit Ratio) indicator is below 1, indicating that most on-chain transactions are experiencing losses. This situation is similar to the decline that occurred in March, where short-term investors sold their assets at a loss. Fear and panic dominate market sentiment.

However, amid this uncertainty, Bitcoin (BTC) remains a hope for many investors. With strong fundamentals, BTC is seen as an asset that can endure and recover faster compared to other crypto assets.

The crypto market is showing a negative trend with increasing selling pressure. Recent data indicates that the inflow of Bitcoin to exchanges has increased, signaling higher selling pressure and a bearish market trend.

However, there is optimism for Bitcoin. Since February 6, 2025, the amount of Bitcoin withdrawn from exchanges has significantly increased. This indicates investor confidence and potential price increases. When Bitcoin is moved to cold wallets, investors anticipate price rises.

High outflows are usually followed by significant price increases. Although the crypto market is highly reactive to news, historical data shows potential volatility in a positive direction for Bitcoin.

Net inflows to Bitcoin ETF showed a positive spike of +538 million USD on March 24, marking the first time since February 14, 2025.

This positive cash flow indicates an increase in investment in Bitcoin ETFs, reflecting strong investor demand and confidence in Bitcoin.

Although the market in general shows a negative trend, optimism towards Bitcoin remains high.

This surge in investment could be a signal of bullish sentiment, potentially pushing Bitcoin prices higher.

Investors seem to have more faith in Bitcoin's long-term potential compared to the current sluggish market conditions.