onchain

While the market was panicking below $70K, something very different was happening on-chain.
According to data from Glassnode, traders accumulated nearly 600,000 BTC during the recent correction.

Even more interesting?

Over 200,000 BTC were bought in just the past two weeks.

That means the drop toward the $60K–$70K zone triggered conviction buying, not mass panic.

On-chain data now shows a major ownership cluster forming there.

About 1.56 million BTC last moved in that price band — roughly 8% of the entire circulating supply of Bitcoin.

In market terms, clusters like this often act as strong support.

Why?

Because holders who bought in that range are less likely to sell at a loss if price revisits it.

Institutional demand may also be part of the story.

U.S. spot Bitcoin ETF products currently hold around 1.28 million BTC, and recent inflows suggest institutions started buying again during the dip.

But there’s another side to the equation.

Around 40% of BTC holders are still underwater, having bought above $70K.

If price climbs back toward $70K–$80K, some of those holders could create selling pressure.

Which means the next move could get interesting.

The dip created a massive accumulation zone.

Now the real question is:
Did smart money just build the next major support for Bitcoin…
or are we about to see a battle between new buyers and trapped sellers?

#Bitcoin #BTC #Crypto #Onchain #Markets $BTC

The Aave slippage disaster is trending because it was not a hack, not a protocol failure, and not some shadowy exploit. It was a brutal user mistake made in full view of the chain: on March 12, a wallet pushed roughly $50.4 million through Aave’s swap flow and ended up with about 327 aEthAAVE worth only around $36,000 after extreme price impact. Reporting around the trade also says the interface showed an extraordinary slippage warning before the order was confirmed. What makes this story stick is the uncomfortable lesson. DeFi did exactly what it was told to do, and that may be the real problem. Aave founder Stani Kulechov said the protocol would return about $600,000 in fees from the transaction, but the bigger conversation now is whether “permissionless” should still mean “allowed to self-destruct.”
#AAVE #defi #Onchain #CryptoRisk #Write2Earn

I've gone through 2 downtrend since 2017, and one thing I learned: this isn't the time to rush.
The key for success is patience, you must have the best possible position before next uptrend
Sometimes, basics are the best, you don't need to know much, these metrics of onchain $BTC are enough to determine the bottom zone:
1/ Realized price: the "average cost basic" at which all bitcoin were purchased!
Currently it stays around 55K -> compare with historical price, when $BTC drops to below the realized price, it's the most ideal price to all-in your bag.

2/ MVRV (Market Value to Realized Value)
Current: 1.22 -> market is at "fair value" zone, still higher than accumulation zone (<1.0).
Compared with historical data 0.5-0.8 at 2018/2022, $BTC may decline ~18-36% from here to meet the same MVRV levels.

3. SOPR (Spent Output Profit Ratio)
Current: 0.98 -> it shows the slight capitulation but not extreme levels (<0.95). The bottoming SOPR usually remains under 0.95 for a longer period.

4. NUPL (Net Unrealized Profit/Loss)
Current: 0.18 it's still in the "hope" phrase, we need a negative NUPL to see the market fully capitulate.
5. Puell Multiple (miner profitability by comparing daily revenue (USD) against its 365-day moving average.)
current: 0.77 -> Miners are under pressure but haven't reached full capitulation.
History shows that bottoms often forms when it below 0.5.

Bottom line:
Apply to this cycle, BTC is in the early stage of accumulation but has not reached the full capitulation. It needs time for deeper discount!
Using the metrics above to calculate:
Extremely bear: 38K-44K
Base case: 55K-60K
From my POV 55K-60K I'll start #DCA, under realized price I'll all-in my bag.
#Onchain #OnChainAnalysis