Thread by @OnChainData

Let's Talk: #Bitcoin Weekly Overview 🧵

1/ Price Action

$BTC continues to trade on the lower range of an uptrend channel, below relevant EMAs (20, 55, 100) and POC. Not great signs if you ask me.

#BTC needs to claim the higher range of the channel sooner rather than later.

2/ Daily Active Addresses

We've been follow this metric on a weekly basis for some time now, and it's impressive to see how well it keeps up.

Regardless $BTC price action, we are still averaging 930k+ active wallets on a daily basis, with lower activity during weekends. 📈

3/ #Bitcoin Supply on Exchanges

Supply has been quite constant during the past week, with no significant inflows or outflows.

We can see the trend so far (violet line) has been a decreasing stock of $BTC, meaning there's a light tendency for custody in cold wallets. 📈

4/ STH (Short Term) vs LTH (Long Term) Holders

What's the trend?

- STH stopped buying, which can easily be explained with a Fear & Greed Index into the "Fear" zone
- LTH, even with a decreasing trend line, have been getting some more $BTC
- Institutional inv. still accumulating

5/ MVRV Ratios

30day for $BTC = -11%
30day for $ETH = -9%

1year for $BTC = -15%
1year for $ETH = -13%

All values on the red, sill not in danger zone (around -25%). Investors might not be happy, but there´s not enough "loss" yet for anyone to start panic selling (history based)

6/ Funding Rates

When comparing the perpetual futures funding rates for some of the most significant exchanges with derivative trading (@binance @bitfinex @dYdX @FTX_Official ) there are all in the neutral area, with some slightly positive (meaning longs are paying the fee).

So that's all for today!

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Thanks @santimentfeed for the data, always spot-on with great #onchain data for analysis🤓

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