In the latest edition of the Market Pulse, we deep dive into the RVT Ratio and how it captures shifts in Bitcoin macro market cycles.

We also explore two new RVT Ratio variations and new analysis frameworks.

Join the Discussion on Glassnode Forum

#Bitcoin Miner Balance has seen large outflows since prices rejected from the local high of $24.5k.

This suggests aggregate Miner profitability is still under a degree of stress with ~8k $BTC/month being spent to cover USD denominated costs

Live Chart

September was an exciting month, with the Glassnode team delivering our brand new suite of #Ethereum Merge and Proof-of-Stake metrics.

Monthly highlights:
- 16x New Metrics
- 19x Workbench Constructions
- 2x New Dashboards
- 8x Research Reports

Read about our latest Product Updates for September

As global equity and bond markets continue to tread challenging ground, #Bitcoin hashrate defies the odds, pushing to yet another all-time high.

This week, we deep dive into $BTC mining to assess if the worst of the capitulation is over, or not.

Read more in The Week On-chain

#Bitcoin has been trading very close to its estimated cost of production price since the June sell-off.

The Difficulty Regression Model is hovering at $18,300, and signals a potential threshold for acute income stress in the mining industry.

Read more

The Week On-chain Video report for Week 40 is now live!

We deep dive into the #Bitcoin mining sector, to assess
- Hashrate and Difficulty ATHs
- Cost of production pricing models
- Risk and realities of mining capitulation

Watch our latest video report

If we assess #Bitcoin volumes flowing in and out of exchanges by Whale sized entities (> 1k $BTC), we can estimate their cost basis (Realized Price).

The average price of Whale Deposits/Withdrawals since Jan-2017 is currently around $15.8k.

Live Chart

The on-chain cost basis for #Bitcoin Short-Term Holders has now crossed below that of Long-Term Holders.

This means that buyers of $BTC over the last 5-months have a superior cost basis to those who HODLed through all the volatility of the 2020-22 cycle.

Live Chart

The Calm Before the #Bitcoin Storm video report is live.

We cover:
- Analysis of the Accumulation Trend Score.
- Focus in on Whale entities and their onchain behaviour.
- Supply profitability and adjusting for lost coins.
- Cross-over of Short- and Long-Term Holder Realized Price.

Watch out latest Week On-chain video report.

The #Bitcoin market is primed for a burst of volatility, with both realized and options implied volatility falling to historical lows.

Futures open interest has hit all-time-highs, despite liquidations being at all-time-lows.

Read our latest analysis in The Week On-chain.

#Bitcoin supply that was moved in the last 6-months is approaching all-time-lows, currently at 18.12% of circulating supply (3.485M $BTC).

Historically, very low volumes of mobile supply typically occur after prolonged bear markets.

Live on our new Dashboard

The #Bitcoin Spring is Coiled for High Volatility.

Our latest video report is now live covering:
- Realized and implied volatility coiled up
- On-chain spending patterns at a decision point
- $BTC Futures Open Interest at All-time-high

Watch our latest video report.

The #Bitcoin Hash Price has reached an all-time-low of $66,500 per Exahash.

This means that $BTC miners are earning the smallest reward relative to hashpower applied in history, and likely puts the industry under extreme income stress.

Live Chart and Miner Capitulation Dashboard

As volatility of #Bitcoin compresses to historical lows, we present both the 🐂 and 🐻 case for $BTC.

We assess:
- Potential $1.5B miner deleveraging
- Weak on-chain activity
- Persistent draining of exchanges
- Unwavering HODLer conviction

Read more in The Week On-chain

The latest Week On-chain Video report is live!

In this edition we cover the Bull and Bear case for #Bitcoin, assessing
- Weak on-chain activity and network utilization
- Risk of a $1.5B miner deleveraging event
- Accumulation trends and exchange balances draining

Watch our latest video report.

Our mission is to build crypto's leading market and portfolio intelligence platform that empowers investors to compound and protect their digital assets.

Today, we are proud to announce we have acquired Accointing.com – a key milestone towards this goal.

Learn more 👉 glassno.de/accointing

#Bitcoin has rallied back above the key $20k psychological level after many months of low volatility.

In this edition, we analyze how Bitcoin may be hammering out a near-textbook bear market floor and what risks may lay on the road ahead.

Read more in The Week On-chain

Is #Bitcoin hammering out a bear market bottom?

Our latest video report is live and covers:
- Pricing models of past cycle floors
- Supply redistribution since June lows
- Profitability of various $BTC cohorts

Watch our latest report

The #Bitcoin seller exhaustion constant has recorded the lowest value since November 2018.

This metric reaches such levels when volatility is low, but losses realized on-chain are high.

6-of-7 similar levels in the past preceded volatility to the upside

Live Chart

#Bitcoin faces strong resistance as it approaches several key on-chain cost basis.

With early signs pointing to a shift in demand, the #Bitcoin holder-base is slowly but surely becoming saturated by those with the strongest resolve.

Read more in The Week On-chain

Our latest video report covering the Fall of the #FTX Empire is live.

We cover:
- Relationship between FTX, Alameda and Binance.
- Token composition of multi-billion USD transfers.
- The collapse of FTX during the bank run.
- Reaction of #Bitcoin holders

Watch our latest video report on the collapse of FTX.