ChainCatcher news, CryptoQuant analyst G a a h stated that the BTC reserves on exchanges have hit the lowest level since November 2018, and the market may see a trend of Bitcoin appreciation.

ChainCatcher news, according to The Block, since the U.S. presidential election, Bitcoin has surged to a new high of over $93,500, with some large miners taking the opportunity to profit by selling part of their Bitcoin, approximately 2,000 coins sold last week.However, CryptoQuant analysts believe that Bitcoin is still undervalued, as valuation indicators do not show it to be overvalued, and with increasing market demand and improving liquidity, it is expected to soon challenge $100,000.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform: "The leverage ratio in the BTC-USDT perpetual contract market is too high, 2.7 times higher than at the beginning of this year, setting a new historical high. I have carefully checked the data, and it is accurate. Stay cautious."

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that the volatility in the Bitcoin market is increasing. During the price discovery phase, the order book is often thin due to a lack of consensus on support and resistance levels. This led to multiple price fluctuations during the last bull market cycle. Currently, there is almost no trading volume above $72,000 for Bitcoin, making it easy to rise and fall.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that two years ago he disclosed the FTX "run" data, helping investors avoid the impact, and FTX stopped user withdrawals two days after the data was disclosed.However, many crypto influencers fiercely attacked him at that time, but later everyone deleted their comments.

ChainCatcher news, according to Cointelegraph, CryptoQuant founder and CEO Ki Young Ju recently explained that although the supply of stablecoins continues to grow, the new trading volume is insufficient to create enough buyer liquidity to drive up Bitcoin prices.He pointed out that the current exchange reserve ratio of Bitcoin to stablecoins is about 6:1, which means that the amount of Bitcoin held on exchanges is six times that of stablecoins. In September 2021, the value of stablecoin reserves was approximately $30 billion.Currently, the total market capitalization of stablecoins is about $166 billion, but only 21% of stablecoins are used for trading, far below the 50% in 2021. Ki Young Ju believes that although the supply of stablecoins continues to grow, in the current market cycle, stablecoins are primarily used for other purposes rather than trading.

ChainCatcher news, CryptoQuant analysts indicate that Binance futures whales have shown strong buying momentum. Recently, the Binance futures market has experienced the strongest buying pressure since September of last year. The same pattern is observed not only in Bitcoin but also in Ethereum.

ChainCatcher news, CryptoQuant CEO Ki Young Ju posted on the X platform stating that stablecoins alone cannot provide sufficient buyer liquidity for Bitcoin. The ratio of BTC to stablecoins is 6.05, which means the BTC reserves are six times that of stablecoins, similar to the last ATH. ETF flows and Coinbase dollar liquidity will be crucial in the coming months.

ChainCatcher news, CryptoQuant CEO Ki Young Ju posted on the X platform stating that South Korean government officials claim that 10% of South Korea's trade transactions use stablecoins.USDT accounts for 72% of the stablecoin market, primarily on the TRON blockchain, which may be due to its fast speed and lower fees compared to ETH. For whatever reason, the market has chosen Tether and TRON; they have found a product-market fit.

ChainCatcher news, CryptoQuant CEO Ki Young Ju posted on the X platform that the demand for institutional Bitcoin custody wallets is rising. In the past year, the net inflow into U.S. spot ETFs has reached 278,000 Bitcoins (approximately 80% from retail investors), while large wallets (holding more than 1,000 Bitcoins, excluding exchanges and mining pools) have seen a net inflow of 670,000 Bitcoins, indicating that institutions are allocating Bitcoin through custody services at a scale approximately 2.4 times that of the ETF channel.Ki Young Ju further stated that these whale wallets are a superset of custody wallets. Since most ETF wallets hold less than 1,000 Bitcoins, this data can better reflect the actual situation of custody wallets. He also pointed out that more detailed data is needed for deeper market insights.

ChainCatcher news, CryptoQuant CEO Ki Young Ju stated on social media, "I agree with everything meme coin enthusiasts talk about, except for the meme coin cycle.Social media has evolved from being centered around relationships with friends and family to being centered around shared interests, and the next step is economically driven social media, which is also the vision of Web3. Memecoin is just a temporary combination of economy and common interests in the transitional phase of social media.Soon, we will see an era where economic interests align with the social value creation of the internet, and that is when the real altcoin season will begin."

ChainCatcher news, according to Cointelegraph, Bitcoin mining difficulty has surged by 378% over the past three years, driven by institutional investments in large-scale mining operations, reaching unprecedented levels. This situation has led to unprecedented mining competition and raised the entry barrier for individual miners.CryptoQuant's CEO Ki Young Ju predicts that this could be a positive signal for Bitcoin. The rise in mining difficulty may be a precursor to Bitcoin evolving into a stable currency by 2030. With the increasing dominance of institutions, Ju believes this could reduce the volatility of the cryptocurrency market.With macroeconomic data and expected market fluctuations, analysts will closely monitor Bitcoin's performance in the coming weeks, with some expecting Bitcoin to test its all-time high again before the end of the year.

ChainCatcher news, according to The Block, based on data from CryptoQuant, retail investor activity has slowed down from June to late September, but has started to pick up since October. The agency noted in a report released on Tuesday: "In the past 30 days, retail demand has increased by about 13%, showing a trend similar to when we approached the previous historical peak in March."The report pointed out that the increase in retail demand for Bitcoin is occurring alongside a rise in institutional interest. While retail investors are returning to the market, institutional investors have been steadily increasing their investments in Bitcoin this year. This contrasts sharply with the first quarter of 2024, when market demand was primarily driven by large investors. The current dynamics of retail and institutional investor demand are similar to previous Bitcoin market cycles, and the recent increase in retail activity may signal a similar pattern of renewed optimism.To gauge retail investor demand, CryptoQuant focused on several key indicators. One of them is tracking the total amount of Bitcoin held in wallets that hold less than one Bitcoin. This total has increased from 1.734 million Bitcoins in mid-March to the current 1.752 million Bitcoins, an increase of 18,000. Another indicator is the volume of on-chain transactions below $10,000, which reflects the activity of small investors and provides a reference for the market sentiment of non-institutional investors.

ChainCatcher news, CryptoQuant writer Burakkesmeci stated that as of October 18, 2024, the number of Ethereum accumulation addresses holding ETH has exceeded 19 million.Burakkesmeci expects that by the end of this year, these addresses will hold more than 20 million ETH. At that time, the price of Ethereum is expected to be around $4000, with a total value exceeding $80 billion, comparable to the market capitalization of some of the largest companies in the world.

ChainCatcher news, according to CoinDesk, Arkham Intelligence data shows that Tesla has transferred its Bitcoin reserves for the first time in over two years, causing some Bitcoin traders to panic. CryptoQuant community analyst Maartunn speculates that Tesla's transfer of BTC may have several reasons:Compliance or internal audit: Tesla may transfer Bitcoin to fulfill accounting or legal obligations related to reporting or internal audits;Wallet management: Tesla may use multiple wallets for operational purposes, although this seems unlikely;Restructuring funds: Restructuring Bitcoin holdings as part of a strategy to prepare for future sales or loans.

ChainCatcher message, regarding this morning's news that "Tesla has transferred Bitcoin for the first time in two years, moving $770 million worth of Bitcoin to multiple new addresses," CryptoQuant CEO Ki Young Ju stated that even if Tesla chooses to sell these Bitcoins, the impact would only be slightly higher than half of the German government's.The actual profit of the German government is $816 million, while Tesla's as of today is $515 million.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that the apparent demand for Bitcoin is recovering. Apparent demand is an on-chain metric used to compare changes in issuance and inventory. Specifically, the apparent demand for Bitcoin measures the difference between the BTC mining issuance and the supply of tokens that have been idle for over a year. Ju emphasized that if the reduction in inventory exceeds the issuance, it indicates that apparent demand is increasing.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on social media that 285 days have passed in 2024, and if Bitcoin cannot start a bull market within 14 days, it will set the record for the longest consolidation period since the halving.

ChainCatcher message, Cryptoquant analysts released a report stating that based on historical data, the price of Bitcoin is currently in a key psychological turning point, situated between optimism and pessimism. Market participants form optimistic or pessimistic views based on whether they are in profit; as long as Bitcoin remains within this range, it indicates that a significant drop is unlikely.Historical data shows that maintaining stability in key areas is crucial for the continuation of a bull market. Specifically, the "profit supply" indicator, which reflects periods of investor profitability, suggests that when a large portion of the supply is in profit, optimistic sentiment tends to rise. The current price level of Bitcoin is testing this optimistic zone.

ChainCatcher news, CryptoQuant analyst Burak Kesmeci pointed out that the average cost of short-term Bitcoin holders is playing a key role. Currently, the average cost for 1-3 month holders is $61,633, and for 3-6 month holders, it is $64,459. These two levels are approaching each other daily, and the direction of the breakout will be decisive.Kesmeci believes that if the price breaks above $64,500, it will empower the bulls; conversely, if it falls below the average cost of 1-3 month holders at $61,600, the patience of Bitcoin investors will be severely tested.