CryptoQuant Quicktake

White House official Patrick Witt said the U.S. is aiming to pass the CLARITY Act — also known as the “Crypto Market Clarity Act” — by July 4.
This bill is considered highly important for determining how crypto assets will be classified in the U.S., which agencies will oversee them, and under what regulatory framework the market will continue to grow.
If the process moves forward as planned, this could open the door to a new era not only for the U.S., but also for Bitcoin, altcoins, exchanges, and institutional crypto investments.
The market is now focused on one key date:
Will regulatory clarity for crypto arrive on July 4? 👀
Written by İbrahim COŞAR

With Bitcoin trading at $61,691 (-25% over 30 days), on-chain metrics suggest a noticeable shift in market participation structure and cohort profitability.
Looking at the UTXO Realized Price Age Bands, all 5 tracked short-to-long-term crossover pairs are currently submerged (Fast RP < Slow RP). The deepest negative spreads are seen in the 1m_3m > 6m_12m (-27.4%) and 0d_1d > 3m_6m (-24.0%) cohorts. This alignment indicates that short-term holders (STH) are holding at a significant unrealized loss relative to older cohorts.
This on-chain stress is closely mirrored by erratic exchange dynamics. Binance Netflows have exhibited aggressive volatility, swinging from a massive +6,527 BTC inflow on June 1 to a sharp -4,403 BTC outflow by June 8.
When combining this flow data with derivatives, a clearer picture emerges: Binance Funding Rates have flattened to zero, and the Coinbase Premium remains persistently negative (-0.07). This suggests the recent heavy outflows from Binance are likely driven by risk-off behavior and retail capitulation, rather than strategic institutional accumulation.
Probabilistic Outlook:
While Long-Term Holders (LTH) maintain a 56% baseline, balancing the distribution, the convergence of deeply negative RP spreads and muted derivative demand creates conditions historically associated with prolonged consolidation phases before market momentum can effectively reset.
Written by CryptoOnchain

• Bitcoin’s Price, Supply, Demand, and Holders.
Written by Facundo Fama

The chart shows that the amount of staked ETH continues to increase despite the recent price decline. While ETH fell from around $3,400 to the $1,650 region, total staked ETH rose from roughly 36 million to over 39.7 million ETH. This suggests that many investors prefer locking up their ETH rather than selling it.
The fastest price reactions are usually seen on Binance, where most whale and institutional activity takes place. That is why I primarily follow Binance price data.
As a result, Ethereum’s long term liquid supply continues to tighten. While this alone does not guarantee higher prices, it remains a structurally bullish factor.
Staking activity has also remained relatively stable, with no major inflow or withdrawal waves recently. If investors expected significantly lower prices ahead, a decline in the staking ratio would likely be visible. Instead, the staking ratio remains near record highs at around 32.5%, meaning nearly one third of the circulating ETH supply is locked.
A shrinking liquid supply can amplify future price recoveries if demand returns. However, price action still shows lower highs and lower lows, meaning the short term trend remains bearish and a confirmed bottom has not yet formed.
A notable divergence has developed: staked ETH keeps rising while price keeps falling. Such divergences rarely last forever. Either price eventually catches up with the ongoing accumulation and recovers, or macroeconomic pressure persists and keeps ETH under pressure for longer.
My view is that ETH may be approaching a bottoming phase. Although the short-term trend remains weak, long-term investor behavior does not support a strongly bearish outlook. The steady rise in staked ETH suggests that on-chain selling pressure is not increasing.
Based solely on this data, the probability of consolidation and a gradual recovery appears slightly higher than the probability of an accelerated sell off in the coming weeks.
Written by PelinayPA

• Bitcoin’s Price, Supply, Demand, and Holders.
Written by Facundo Fama

XRP is facing renewed selling pressure near the $1.14 area, but large exchange withdrawals are moving in the opposite direction.
Multi Exchanges Daily Outflow Amount Above 1M chart shows a fresh wave of large XRP withdrawals from Binance, with transactions above 1 million XRP each becoming more active since the start of June.
From June 3 to June 11, Binance alone recorded around 465 million XRP in large daily outflows. The size and repetition of these withdrawals suggest that whale-sized movements are again becoming a key part of XRP’s market structure.
The important point is that this is not a single-day spike. The data shows repeated large withdrawals across several days, making the current Binance activity worth monitoring closely.
Large withdrawals from exchanges do not automatically confirm accumulation, but they can reduce the amount of XRP immediately available on exchange order books. When this happens during price weakness, it can create an important contrast between short-term selling pressure and larger holders moving coins away from trading venues.
For now, the key question is whether this wave of Binance outflows will continue — and whether reduced exchange liquidity can help XRP stabilize after its recent decline.
Written by Amr Taha

• Market timeline from April to June, 2026.
Written by Facundo Fama

Data from the XRP Whale Inflow to Binance shows a significant increase in XRP inflows from large wallets to the Binance platform, coinciding with the cryptocurrency trading near $1.17. According to the data, total whale inflows over the last 30 days have risen to approximately 1.33 billion XRP, the highest level in two months, after the indicator had fallen below 1 billion XRP in recent weeks. This development reflects a renewed increase in activity among major investors on the platform.
The data also shows a clear recovery in inflows following a period of decline that lasted several weeks. Inflows have risen again to reach a two-month high, indicating that a larger volume of XRP is being transferred to the platform compared with previous periods. This trend suggests renewed activity among large holders after a phase of relative calm.
Historically, substantial increases in whale inflows to trading platforms have often been associated with higher levels of liquidity and market activity. While these inflows do not necessarily signal an immediate intention to sell, they remain an important indicator of large investors' willingness to move their holdings and respond to prevailing market conditions.
The rise in XRP whale inflows to their highest level in two months reflects a notable shift in the behavior of major investors on the XRP network. As these flows continue to be monitored in the coming days, whale activity may provide valuable insights into liquidity trends and the potential direction of market activity in the near term.
Written by Arab Chain

• Price action from April to June, 2026.
Written by Facundo Fama

• The dynamic between Apparent Demand Growth and Supply in Loss.
• More than 10 million BTC in loss.
• Chronology from April 2025 to June 2026.
Written by Facundo Fama

Gate is rebuilding confidence through its TradFi perpetual futures volume.
Gate held only 3.4 billion dollars in TradFi perp volume in January 2026.
Volume surged to 56.7 billion dollars in February 2026. Volume reached 295.8 billion dollars in March 2026. This figure exceeded Bybit's 7.4 billion dollars by 39.8 times. Gate alone made up 85 percent of the gate bybit and other exchanges total in March.
Gate's volume pulled back to 3.06 billion dollars in June 2026.
Gate reached 1.6 times Bybit's 1.87 billion dollars at this level. Gate still held 44 percent of the active series in June. This figure is 127 times Gate's 24 million dollar volume from a year earlier.
Conclusion:
Gate produced a total of 377.5 billion dollars in volume in the TradFi perp segment in the first half of 2026.
Gate started to make a difference in the sector in the TradFi perp segment with its massive volume growth compared to 2025. Gate kept its lead among the active series even as volume normalized after the March peak.
Gate is now a permanent player in the TradFi perpetual futures market.
Written by burakkesmeci

Trump said that if no agreement is reached with Iran, the U.S. could hit Iran “very hard tonight.”
Military targets may not be the only focus. Kharg Island, seen as the heart of Iran’s oil exports, and key energy infrastructure could also return to the target list.
This scenario could impact not only Iran, but also oil prices, energy markets, and global risk appetite directly.
For markets, tonight could be critical. ⚠️
Written by İbrahim COŞAR

On June 4th, AMP recorded a single-day trading volume exceeding $14 billion — roughly 17 times its typical daily range. Transaction counts surged to over 5,300 that day, compared to a baseline of around 700. Yet through all of this activity, the spot price remained pinned near $0.001, showing no meaningful response.
This combination of explosive volume alongside price immobility suggests that the June 4th event was not driven by directional conviction. When large volume moves through a market without lifting or depressing price, it typically indicates one of two dynamics: either aggressive supply absorption by large buyers, or coordinated distribution where sellers found sufficient liquidity to exit quietly. The Binance netflow data adds an important layer — the 7-day average netflow turned deeply negative (-32M AMP), meaning tokens were consistently leaving Binance throughout this period.
Over the past three months, Binance reserves have declined by approximately 32%, while overall on-chain volume has expanded by nearly 300%. This divergence between shrinking exchange supply and rising transfer activity may suggest tokens are migrating away from centralized venues. However, the price declining 44% over the same period serves as an important counterweight — organic accumulation rarely produces sustained price weakness of this magnitude.
The June 4th spike and the broader pattern of elevated volume alongside declining exchange reserves create conditions that have historically preceded either a supply squeeze or a prolonged distribution phase. The data alone cannot resolve which scenario is unfolding. What it does establish clearly is that something structurally significant occurred, and AMP’s on-chain behavior warrants closer monitoring in the sessions ahead.
Written by CryptoOnchain

On June 4th, AMP recorded a single-day trading volume exceeding $14 billion — roughly 17 times its typical daily range. Transaction counts surged to over 5,300 that day, compared to a baseline of around 700. Yet through all of this activity, the spot price remained pinned near $0.001, showing no meaningful response.
This combination of explosive volume alongside price immobility suggests that the June 4th event was not driven by directional conviction. When large volume moves through a market without lifting or depressing price, it typically indicates one of two dynamics: either aggressive supply absorption by large buyers, or coordinated distribution where sellers found sufficient liquidity to exit quietly. The Binance netflow data adds an important layer — the 7-day average netflow turned deeply negative (-32M AMP), meaning tokens were consistently leaving Binance throughout this period.
Over the past three months, Binance reserves have declined by approximately 32%, while overall on-chain volume has expanded by nearly 300%. This divergence between shrinking exchange supply and rising transfer activity may suggest tokens are migrating away from centralized venues. However, the price declining 44% over the same period serves as an important counterweight — organic accumulation rarely produces sustained price weakness of this magnitude.
The June 4th spike and the broader pattern of elevated volume alongside declining exchange reserves create conditions that have historically preceded either a supply squeeze or a prolonged distribution phase. The data alone cannot resolve which scenario is unfolding. What it does establish clearly is that something structurally significant occurred, and AMP’s on-chain behavior warrants closer monitoring in the sessions ahead.
Written by CryptoOnchain

One of CryptoQuant’s charts and research insights were recently featured in a major article by Japan’s leading financial newspaper, the Nikkei.
The article highlighted a striking trend: spot trading volume across major cryptocurrency exchanges has fallen by more than 70% from its 2024 peak. At first glance, this may appear to signal a weakening market. However, the deeper story is far more important.
Based on CryptoQuant’s on-chain data and market analysis, the decline in spot trading activity reflects a structural transformation of the Bitcoin market. Capital is increasingly moving from retail-driven exchange trading toward institutional channels such as spot Bitcoin ETFs, corporate treasury allocations, and long-term investment vehicles.
In other words, Bitcoin is gradually evolving from a speculative trading asset into a recognized financial asset class.
As a CryptoQuant Certified Analyst and one of the contributors supporting CryptoQuant research in Japan, it is exciting to see on-chain analytics gaining recognition from mainstream financial media. The growing adoption of professional blockchain data analysis demonstrates how institutional investors, policymakers, and traditional financial markets are increasingly relying on transparent on-chain insights to understand the future of digital assets.
This is not simply a story about declining trading volume. It is a story about the maturation of the Bitcoin market.
Written by XWIN Japan

XRP has faced sustained downward pressure recently, with spot prices drifting to 6-month minimums near $1.09. Unsurprisingly, broader on-chain network activity has cooled, with total transaction counts dropping by 25% month-over-month. However, beneath the surface, derivatives positioning tells a very different story. Open Interest has expanded significantly, climbing to 494M, alongside a rising Estimated Leverage Ratio.
Strikingly, this leverage buildup is heavily skewed to the short side. Binance Funding Rates have plunged into deeply negative territory (-0.006 avg, dropping over 550% week-over-week). The crowd appears to be heavily betting on further downside, aggressively piling into short positions exactly as the price touches local lows.
A fascinating structural divergence emerges when we compare this derivative bearishness to actual spot flows. While futures traders short the asset, large entities are quietly withdrawing spot XRP. On June 10th, Binance recorded a massive outflow of nearly 90 million XRP, drastically overpowering the inflows. Overall, Binance outflows have surged by over 83% month-over-month. Spot supply is being actively removed from the exact venue where derivatives traders are heavily shorting.
When elevated Open Interest and deeply negative funding rates combine with aggressive spot withdrawals from major exchanges like Binance, it creates the classic ingredients for a localized short squeeze. While further downside is never off the table, the systematic removal of spot liquidity suggests that sophisticated players are accumulating. Historically, when late-stage shorts encounter thinning exchange supply, the market becomes highly sensitive to explosive upward reversals.
Written by CryptoOnchain

Whether whales or retail investors, the current period in Bitcoin is putting all types of market participants under pressure.
BTC is currently trading more than 50% below its previous all time high from October 2025, and this correction has left some investors so uneasy that they react emotionally to even the smallest price movements.
On Binance, both whales and retail investors have significantly increased their BTC inflows (90 dam) as Bitcoin recently fell below the $60 000 level once again.
For comparison, whale inflows to Binance have risen to an average of 5 280 BTC over the past three months. Since March, that average had been hovering around 1 900 BTC.
Retail investors, while moving smaller amounts, have followed a similar pattern. Their average inflows have climbed to 410 BTC, reflecting the same trend observed among whales.
This marks the second notable episode of panic observed this year. In early February, whale inflows to Binance surged to 6 200 BTC, while retail inflows reached 570 BTC as Bitcoin also traded below the $60 000 threshold.
These behaviors highlight how market conditions can affect both whales and retail participants alike. Inflows tend to increase at the worst possible moments, illustrating the transfer of coins from weaker hands to stronger hands that often occurs during periods of heightened market stress.
Written by Darkfost

Bitcoin is moving into a zone historically associated with bottom formation, but the on-chain structure still points to capitulation, not confirmation.
STH MVRV measures recent buyers' market value against their aggregate cost basis. At 1.0 they break even; the metric has now bled toward the 0.75–0.80 zone, meaning the average coin bought in recent months sits at a loss.
Historically this band is where weak hands are flushed and durable floors form, every prior tag preceded a local bottom. The caveat is each rally since 2024 has printed a lower MVRV high and low (descending channel), so demand momentum is fading even as the metric reaches oversold.
aSOPR confirms the behaviour. It tracks whether spent coins move at a profit (>1.0) or a loss (<1.0). The 7-day SMA is pressing the ~0.96 support that has marked every major seller-exhaustion event since 2019. Below 1.0, holders are realizing losses, selling into pain, precisely the condition that precedes reversals once the selling base is spent.
The signal completes only on double confirmation: aSOPR (7D SMA) reclaiming and holding above 1.0 for several sessions, and STH MVRV turning back through 1.0 toward its realized price.
A price bounce alone is necessary but insufficient, without both metrics flipping, this stays an oversold market, not a regime change.
Written by MorenoDV_

Ethereum Open Interest Shows Exchange-Level Divergence as Liquidation Clusters Build Above Price
Ethereum derivatives data is showing a notable shift in market structure, with open interest changing differently across major exchanges while the largest liquidation clusters remain above the current spot price.
On June 10, Binance recorded a 30-day open interest change of +616,400 ETH, marking its highest level since 2019. At the same time, Gate.io recorded a 30-day open interest change of -631,700 ETH, moving below its April 27, 2025 level of -564,500 ETH.
Liquidation heatmap data adds another important layer.
The larger liquidation clusters are currently located above ETH’s spot price, with the most visible areas around $2,200 and $2,400.
That does not mean ETH must move higher. However, it does suggest that these levels may become important sensitivity zones if the price starts to recover. When large liquidation clusters sit above spot price, traders often monitor those zones closely because they can influence short-term volatility if the market moves toward them.
Overall, ETH derivatives data is presenting a mixed but important signal: Binance’s 30-day open interest change has reached a multi-year high, Gate.io is showing a notable negative 30-day change, and liquidation liquidity appears more concentrated above the current price.
For now, the market message is clear: ETH is trading in a derivatives environment where positioning is uneven across exchanges, while key liquidation levels remain overhead near $2,200 and $2,400.
Written by Amr Taha

The Bitcoin Realized Price metric continues to provide an important perspective on the broader market cycle. Realized Price, which represents the average acquisition cost of all circulating BTC, currently sits around $53.5K, while spot price remains near $62.5K.
Historically, Bitcoin tends to maintain bullish market conditions while trading above its realized price. Despite the recent correction, BTC still holds a meaningful premium above this level, suggesting that the broader cycle structure remains constructive.
However, the chart also shows that the realized price has flattened in recent months after a strong rise throughout 2024 and 2025. This slowdown reflects reduced capital inflows and a cooling phase in investor activity.
As a result, although the long-term on-chain picture remains supportive, it does not necessarily prevent additional short-term downside. Similar periods in previous cycles often saw prolonged consolidations and multiple retests of support before a stronger trend resumed.
For now, the combination of weakening technical structure and a still-positive on-chain backdrop suggests that Bitcoin may experience further pullbacks toward the $60K support region before attempting a more sustainable recovery.
Written by ShayanMarkets