Thread by @crypto_mystery

Morning update:

With #BTC hovering around $62k, let’s take a look at key on-chain indicators. First of all, the exchange reserves. While different platforms provide slightly different data, it is obvious that we are currently at the lowest levels seen during this bull market👀

This is extremely bullish and signals that supply shock can kick in anytime. Since the supply is much lower than it was at the previous parabolic run, this means that things could get even wilder😉 #BTC

Looking at #Ethereum exchange reserves, things are not much different!🤑

Miners continue to prove themselves as the real diamond hands as their outflows continue to hover below the yearly mean💎 Since they are known to accumulate when prices are low and sell near the top, this is a very encouraging sign. Looks like we have a long way to go!🚀 #BTC

Funding rates saw a small spike but are still very low compared to the levels seen in the past. Before the crash in May, the rates were around 0,2% while we are currently hovering near 0,02%! This is another encouraging sign👌 #BTC

#Bitcoin active addresses saw a nice recovery and are near levels seen before the correction in May ✅

Almost the same chart can be observed looking at the hash rate or mining power. Still, remember the China ban and panic around the hash rate?😂 #BTC

Kimchi Premium is low and is not showing any signs of retail euphoria👌 #BTC

The social sentiment has cooled down after the initial raise that occurred when we broke the previous ATH... Healthy😇 #BTC

To not make this too long, I will cover $LUNA tomorrow🤑 What do you say about a full $LUNA update? No #BTC and #ETH, just $LUNA 🌖