We will report the latest data shared by Glassnode, which examines on-chain data on Bitcoin, Ethereum and many altcoins.
You can have an idea of the coming days by examining how the price moves after similar declines and rises on the charts.
The number of Bitcoins on exchanges dropped to the lowest level in the last 3 months with 2,369,310 units.
Ethereum mining difficulty has reached a new high.
The average volume of liquidated long positions in futures on Binance has reached an 8-month high.
The total value locked for Ethereum 2.0 has reached 8,904,802ETH. Its value is approximately 34 billion dollars.
The number of addresses sending Ethereum to exchanges fell to a 1-month low.
The number of Bitcoin wallets in profit fell to the lowest level in the last 5 months.
The daily average of addresses that were last active 2-3 years ago fell to the lowest level in 2 years.
The daily average of addresses that were last active 1-2 years ago has reached the highest level of 1 year.
The number of Ethereums on exchanges has reached a 23-month low.
When we look at the overall charts above, we see that the selling pressure has decreased and a new uptrend may start on the side of Bitcoin and Ethereum. Because many important metrics have been reset.
At this point, it would be more accurate to consider such in-chain data for medium and long-term expectations. Because it is not possible to predict short-term fluctuations by looking at these data.
*Not Investment Advice.