The Week On-chain Market Recovery After recovering from the $101k level, Bitcoin continues its approach towards its ATH. However, under the surface, volatility appears to be brewing across both the on-chain and options market. In this report, we assess the momentum of the current rally and explore key support and resistance levels.
The Week On-chain Seasoned Holders Taking Profit Bitcoin hit a new ATH of $111.8k before retracing, as profit-taking by long-term holders began to weigh on momentum. With key support at $103.7k and $95.6k, and signs of older investors offloading, the bulls now face a critical test of their resolve.
Market Pulse Market Pulse: Week 23 BTC’s rally has stalled below $111K, triggering a broad cooldown. Spot signals show fading momentum, derivatives positioning remains cautious, and ETF flows have slowed. On-chain activity and profitability metrics suggest consolidation—not exit—amid a reassessment phase.
The Week On-chain Heating Up Strength in the Bitcoin market persists, with the leading digital asset reaching a new ATH of $111k and setting the third fresh ATH of this cycle. This has resulted in a broad uptick in activity across all major segments of the market.
Market Pulse BTC Market Pulse: Week 22 Latest BTC market developments reflect a maturing rally with emerging signs of a transition from moderation to a more heated structure, warranting close monitoring of investor behavior and market liquidity.
The Week On-chain Approaching All Time Highs Bitcoin’s strong price performance as of recent has significantly improved investor portfolios, prompting many to de-risk and take profit. This wave of fresh capital inflows has pushed Bitcoin’s Realized Cap to a new all-time high above $900B, a major milestone in the asset’s history.
Market Pulse Market Pulse: Week 21 Bitcoin hit $106K, pushing 97% of supply into profit - entering a high-risk, euphoric zone. ETF and Options markets remain strong, but cooling netflows and weakening Spot and Futures activity highlight slowing demand. A correction looms if fresh capital doesn’t return.
The Week On-chain Spot Leads, Derivatives Lag Bitcoin’s rally to $104k appears to be driven by strong accumulation in spot and ETF markets, whilst derivatives markets have been playing catch-up. The rally was fueled by a short squeeze, liquidating many leveraged traders who had bet against the move higher.
Market Pulse BTC Market Pulse: Week 20 The market has now entered a high-risk, high-reward structure, with 94% of supply in profit, NUPL nearing euphoric levels, and the Realized Profit/Loss ratio elevated at 2.38. This reflects growing incentives to realize gains.
The Week On-chain Gaining Ground Momentum increases for Bitcoin with its price climbing to a high of $97.9k, its highest in over two months. The rebound in price has provided significant financial relief to market participants, with over +3M BTC returning to a state of profit.
Market Pulse BTC Market Pulse: Week 19 While macro sentiment remains constructive, fading speculative momentum and rising unrealized gains point to greater sensitivity to downside risk. Read more in our weekly Market Pulse.
The Week On-chain A Structural Reset Bitcoin price momentum is facing its first wave of meaningful resistance, as price attempts to consolidate and break above key technical and on-chain levels. Under the surface, a number of structural resets have occurred across multiple facets of the Bitcoin economy.
Market Pulse BTC Market Pulse: Week 18 Spot demand and ETF participation are materially improving, Hot Capital Share is ticking higher, and profitability metrics have expanded notably. However, daily active addresses remain suppressed, suggesting organic network engagement is still rebuilding.
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The Week On-chain Mean Reversion Bitcoin has surged back to $94.7k amid optimism surrounding tariff relief, with the market reclaiming key levels and sparking profit-taking. Short-term holders have taken profits, traders shorted the rally, and ETF inflows hit $1.54B – signalling an important sentiment shift behind the move.
Market Pulse BTC Market Pulse: Week 16 While the recent rebound to $85K improved short-term sentiment, the market remains vulnerable. Liquidity is thin, profitability is subdued, and ETF flows are cautious. Read more in our weekly Market Pulse.
The Week On-chain Rethinking Foundations The macroeconomic environment remains uncertain with the restructuring of global trade relations ongoing. In spite of this, the performance of hard assets remains remarkable with Gold surging to a new ATH of $3300 and Bitcoin residing above $80k.
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Market Pulse BTC Market Pulse: Week 15 Bitcoin remains in a fragile state. Weak fundamentals, declining profitability, and soft liquidity make the market vulnerable to macro shocks. Yet, resilience around $80k suggests long-term participants are defending this level – a potentially constructive signal.
The Week On-chain Tariffs and Turmoil The announcement of Trump’s “Liberation Day” tariffs sent shock-waves through financial markets, with major macro indexes experiencing a unilateral decline. Digital assets have been no exception, experiencing a broad-based contraction occurring across all sectors.
Market Pulse BTC Market Pulse: Week 14 Amid looming macro risks such as a potential tariff war, low liquidity and rising hedging demand suggest that downside pressure remains a credible threat unless significant inflows return to the market.
The Week On-chain Rippling Away Bitcoin prices have continued to slide this week, with signs of seller exhaustion developing but no apparent trend reversal just yet. As a proxy for retail activity, we analyze XRP’s explosive rally as an initial burst of capital inflow stalls, momentum fades, and fragile sentiment raises caution.
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Market Pulse BTC Market Pulse: Week 13 Despite a short-term bounce, ETF, futures, and on-chain data show weak follow-through. Without stronger liquidity and conviction, the rally risks fading into a broader correction - more relief than the start of a lasting uptrend.
The Week On-chain Forging Long-Term Holders Challenging market conditions continue for digital assets, with Bitcoin Short-Term Holders finding themselves under increasing financial pressure. Under the surface, a shift towards Long-Term Holder accumulation appears ongoing, with wealth now transferring back towards price insensitive investors.
