December 7, 2021

Onchain Pulse: Fast Update 25 Aug 2021

A number of on-chain metrics provide a warning signal for the short term.

Dear readers, I hope the week is going well for you. I decided to release a small update with fresh information, which, I think, may be useful to you in the short term.

In Saturday's review, I talked about the attitudethe inflow to the outflow of funds on the exchanges stabilized in a sideways trend, and the illiquid supply ratio increased slightly. These trends have changed in recent days.

Key points:

  • BTC supply becomes more liquid;
  • since the preparation of the last review, the net inflow to exchange addresses amounted to 22,803 BTC;
  • the demand for block space is low;
  • there is some profit taking in exits last moved> 6 months ago;
  • the whales are slowly selling off their stocks, the sharp increase in stockpiling observed a few weeks ago has not yet been continued.

Firstly, BTC began to flock to the exchangeaddresses. In Saturday's review, I noted that the ratio of inflows to outflows on exchanges has stabilized and is in a sideways trend, but since then, the net inflow to exchange addresses has been 22,803 BTC. A significant portion of it came from Binance.

Stock balances (all exchanges)

Almost immediately after the release of the Saturday reviewWe also got a decent drop in the Illiquid Supply Shock. This suggests that the liquidity of the "coins" as a whole is growing. There is nothing surprising in some profit taking after such an aggressive move up, but I would not like it to develop into a trend. The Exchange Supply Shock (pink curve) graph in the screenshot below is in a horizontal movement turning into bearish.

Supply Shock Ratios

The whales have also reduced their BTC holdings somewhat in the past few days. The sharp rise that was observed a few weeks ago has not received the continuation that one hoped for.

Among the expendable exits, there is an increase in the percentage of exits with an age of more than 6 months. It's not the end of the world yet, but it's worth paying attention to.

That's it for today. Until Saturday. Take care of yourself!

The article does not contain investment recommendations,all the opinions expressed express exclusively the personal opinions of the author and the respondents. Any activity related to investing and trading in the markets carries risks. Make your own decisions responsibly and independently.

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