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BTC $77,088.25 -0.81%
ETH $2,119.36 -2.35%
BNB $645.32 -0.90%
XRP $1.39 -0.75%
SOL $84.97 -0.97%
TRX $0.3546 +0.32%
DOGE $0.1064 -1.71%
ADA $0.2509 -0.90%
BCH $389.45 -5.85%
LINK $9.52 -1.31%
HYPE $45.81 +10.47%
AAVE $88.52 -0.84%
SUI $1.04 -0.81%
XLM $0.1496 -0.49%
ZEC $527.15 +5.27%
BTC $77,088.25 -0.81%
ETH $2,119.36 -2.35%
BNB $645.32 -0.90%
XRP $1.39 -0.75%
SOL $84.97 -0.97%
TRX $0.3546 +0.32%
DOGE $0.1064 -1.71%
ADA $0.2509 -0.90%
BCH $389.45 -5.85%
LINK $9.52 -1.31%
HYPE $45.81 +10.47%
AAVE $88.52 -0.84%
SUI $1.04 -0.81%
XLM $0.1496 -0.49%
ZEC $527.15 +5.27%

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Data: Four on-chain signals indicate that Bitcoin supply is tightening and selling pressure is exhausted

Binance Research released a chart analysis this week indicating that four on-chain signals point to the same conclusion: supply is tightening, and selling pressure has been exhausted.Long-term dormancy: Nearly 60% of BTC supply has not moved for over a year, significantly higher than 27% in 2012. The dormancy rate peaked at 69.5% when the spot Bitcoin ETF was approved in January 2024 and has since remained close to historical highs.SLRV indicator: The short-term to long-term holder value ratio is deeply entrenched in historical bottom territory, indicating a lack of market sentiment. Long-term holders dominate the supply, while short-term speculators have largely exited. Historically, every cycle bottom has been accompanied by this ratio entering the current region.Exchange balances: Since peaking at 17.6% during the pandemic, exchange balances have dropped to 15%, with approximately 500,000 BTC permanently leaving exchanges, and seller supply has fallen to a six-year low.STH MVRV indicator: Since November 2024, the BTC short-term holder MVRV has mostly remained below 1, gradually exhausting selling pressure. Currently, this ratio has rebounded to 1, and short-term holders are beginning to reaccumulate unrealized gains. As profit accumulation is still in its early stages, a new wave of selling pressure is unlikely to emerge immediately; historically, this pattern often appears before a sustained recovery.
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