Bitcoin is trading around $76,000–$77,000 after sliding below $77k amid macro pressures like rising oil prices and Treasury yields.

Key Bitcoin On-Chain Highlights

HODLer Strength: Long-term holders remain resilient — nearly 60% of BTC supply hasn't moved in over a year. Exchange balances are near six-year lows, signaling reduced selling pressure from centralized platforms.

Short-Term Holders Underwater: Short-term holder MVRV is below 1, meaning recent buyers are on average in loss. This increases sensitivity to further downside from macro shocks.

Cycle Maturity: MVRV Z-Score is low (near 1) compared to prior cycle peaks, indicating the current bull market hasn't reached euphoric extremes yet. Institutions (via ETFs) have absorbed much of the exchange float.

Network Activity: Metrics like active addresses, transaction counts, and miner flows are stable but not showing explosive growth. Support clusters exist around lower levels (e.g., $65k–$70k in some analyses).

Overall BTC Sentiment: Mixed-to-cautious. Strong long-term conviction and low exchange supply provide a floor, but short-term weakness and macro headwinds (oil, yields) keep the market vulnerable to volatility. No signs of major capitulation yet.Ethereum & Broader Market

ETH is trading lower (~$2,100–$2,200 range recently), with whale accumulation noted earlier in May but facing pressure from broader risk-off moves.

On-chain: Staking remains high (~1/3 of supply locked), DeFi TVL recovering, and L2 activity supportive, but price action lags BTC dominance.

Market Context: Total crypto market cap ~$2.5–2.7T. Volumes are moderate; risk assets broadly under pressure today.

Three core crypto hashtags: #Bitcoin #OnChain #CryptoFor real-time updates, check Glassnode, CryptoQuant, or Binance Research. Markets move fast—DYOR and manage risk!