********BTC on-chain: LTH 4.37M ATH/CEX 867k ATL/ETF $471M/Strive/MS buys vs miner/whale dumps********
Key Questions
What is the record for long-term holder (LTH) Bitcoin?
LTH supply hit ATH 4.37M BTC, signaling quiet accumulation phase. Wallets surpassing this level indicate holders removing supply from exchanges. CEX BTC balances at ATL 867k.
How low are CEX Bitcoin reserves?
CEX BTC reserves fell to 867k, down 10万 in a year per CryptoQuant. This benefits BTC as holders withdraw rather than redeposit. Reserves at multi-year lows support price hold.
What were recent ETF inflows for Bitcoin?
April 6 saw $471M BTC ETF inflows, with Q1 divergence showing modest BTC gains vs ETH outflows. BlackRock, Fidelity, ARK led the highest since Feb. Total Q1 BTC ETF flows strong.
Which firms are buying Bitcoin on-chain?
MicroStrategy (MS) bought 22k BTC (~761k total), BlackRock HODL 2.6k ($177M), Strive added 13.7k/113 at $68k avg. Saylor's Strategy resumed spree with 4,871 BTC. Vs Riot/miner sales.
What are miners and whales doing with Bitcoin?
Riot sold 3,778 BTC in Q1 for $289.5M expansion, miners offloaded amid AI shift. Whales dumped -188k, but SOPR losses test 67-70k hold. Contrarian HODL signals bolster longs.
What does SOPR indicate currently?
SOPR shows losses amid FUD, with losing chips avg cost $93,600; high-cost bags trimmed. Bearish sentiment at 5-week high, retail activity lowest since 2017. Contrarian buy signals emerge.
Is there institutional absorption?
Yes, MS/BlackRock/Strive absorb vs miner/whale dumps; Strategy nearly 3x new supply. Saylor calls 4-year cycle dead, fueling buy optimism. Key signal building quietly despite flat price.
What price implications from on-chain data?
LTH ATH/CEX lows bolster 67-70k+ hold, eyeing $110k if absorption continues. Bear flag risks sub-50k breakdown alternative. Accumulation phases suggest $110k potential.
LTH 4.37M record/CEX BTC 867k ATL/reserves lows, BlackRock 2.6k/$177M + MS 22k/~761k/Strive 13.7k/ETF $471M Apr6 vs Riot 3778/miner/-188k whales; SOPR losses FUD tests 67-70k+ hold, contrarian HODL signals bolster longs.