Julio Moreno
@jjcmoreno
Head of Research @CryptoQuant_com | Data-driven analysis of Bitcoin and digital assets.
1.3K Following 23.2K Followers
Market regime has switched to Bull for Bitcoin.
Basically all metrics are pointing to the initial phase of a new bull market.
Two things to keep in mind:
- Bitcoin's price still has to cross above its 365-day MA ($83K today) for the bull market to be "officially" confirmed.
- A price correction is possible given high unrealized gains after the recent price rally, and potential selling pressure from a spike of exchange inflows.
All in all, the data is very constructive.
Full analysis in our report:
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Bitcoin's final boss: the 365-day moving average, standing at $83K right now.
Holder sweep transactions spiked amid the Coldcard hack and the days after.
On July 31, 1.2K BTC were swept by holders, up from just 65 BTC the day before the hack.
Bitcoin transferred by swept transactions remained elevated until August 7, with a total of 2,575 BTC moved in this period.
A swept transaction is defined here as:
- Total address' BTC holdings are transferred in the transaction.
- The total holdings are transferred to 1 new address.
- Transfers < 1 BTC in this case.
The attackers' addresses are excluded in this analysis.
This chart is live in our Coldcard hack dashboard here:
Our research report:
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Short activity spike on Bitcoin futures markets, the equivalent to +22K Bitcoin in just a few hours.
Short behavior is dominating.
The Trader's On-chain Realized Price has continued to be a resistance for Bitcoin, today at $65.6K
Key level to watch.
Live chart:
Most of the BTC stolen by the coldcard hackers sit on a few addresses.
The top 5 attacker addresses by current BTC balance concentrate almost 83% of the confirmed stolen funds, or 1,127 BTC.
Check the data and addresses on our live dashboard:
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