Glassnode

The Week On-Chain 40, 2024
For the first time since the ATH, Bitcoin has established a new technical higher high, as price bounced into the $66k region. Alongside this, there is a multitude of critical on-chain metrics that have also set higher highs, making this an interesting moment in time.

Executive Summary
- Bitcoin’s cyclical price performance shows a striking similarity across the last three cycles, with the index at nearly the same position.
- Long-term Holders holding BTC in loss have risen, as coins bought near the $73k ATH pass the 155-day mark.
- However, the unrealized loss for these investors is minimal, indicating little financial pressure on portfolios.
- Short-Term Holder profitability has improved in the recent rally, bringing relief to recent buyers.
- US ETF investors’ conviction remains strong, with only minor sell-side pressure despite being below their average inflow cost.

Read more in The Week On-Chain newsletter.

www.tgoop.com/glassnode/968

5.2K viewsedited  Oct 2 at 15:50

The Week On-Chain 40, 2024
For the first time since the ATH, Bitcoin has established a new technical higher high, as price bounced into the $66k region. Alongside this, there is a multitude of critical on-chain metrics that have also set higher highs, making this an interesting moment in time.

Executive Summary
- Bitcoin’s cyclical price performance shows a striking similarity across the last three cycles, with the index at nearly the same position.
- Long-term Holders holding BTC in loss have risen, as coins bought near the $73k ATH pass the 155-day mark.
- However, the unrealized loss for these investors is minimal, indicating little financial pressure on portfolios.
- Short-Term Holder profitability has improved in the recent rally, bringing relief to recent buyers.
- US ETF investors’ conviction remains strong, with only minor sell-side pressure despite being below their average inflow cost.

Read more in The Week On-Chain newsletter.

BY Glassnode