News linked to both this project and an event.
CryptoQuant analyst MorenoDV_ noted that data shows the Ethereum Net Unrealized Profit/Loss (NUPL) on the Binance platform has fallen back to approximately -0.35, entering a range that has historically corresponded to significant price bottoms multiple times. This indicator reflects the unrealized profit/loss status of specific holding groups; the current negative value indicates that relevant Ethereum holdings are overall in a state of relatively deep unrealized losses.
此前消息，Ki Young Ju 发文表示，CME 对冲基金罕见转为 BTC 期货净多头，大户正看涨比特币。
According to Yonhap News, the phenomenon of "reverse Kimchi premium" in South Korea's virtual asset market has continued to intensify since the beginning of this year. According to monitoring by on-chain data platform CryptoQuant, the average Bitcoin Kimchi premium index in early August was -0.48%, and the Ethereum average was -0.49%, meaning domestic prices were lower than those on overseas exchanges. Of the 221 days this year, the number of days with a reverse Bitcoin Kimchi premium reached 123, marking the first time since CryptoQuant began tracking this data in July 2020 that it exceeded the number of days with a positive premium. The record for the longest consecutive streak was also recently broken—from June 20 to July 24 this year, a reverse premium was recorded for 35 consecutive days, surpassing the previous historical record of 23 days. Analysts noted that the continued expansion of the reverse Kimchi premium mainly stems from three factors: first, the South Korean stock market has continued to strengthen, attracting a large number of investors to shift away from the crypto market; second, tighter regulations have prevented new services such as derivatives from being launched, suppressing the inflow of new funds; third, the crypto asset taxation policy is about to be implemented, further depressing investment attractiveness.
CryptoQuant analyst Axel Adler Jr. stated on the X platform that Bitcoin is currently trading below the short-term holder (STH) cost basis, which refers to the average purchase price of Bitcoin held for less than 155 days. As of August 8, 2026, Bitcoin is trading at $64,952, while the short-term holder realized price stands at $67,523. The spot price is 3.8% below this level, with a gap of $2,571—the narrowest since July 21. Over the past 284 days, Bitcoin has closed below the STH realized price on 279 days. This time may be no exception, as short-term holders are likely to begin selling into the market to exit at the breakeven point.
CryptoQuant analyst abramchart stated that data shows Bitcoin recently recorded significant inflows into accumulation addresses, with over 38,000 BTC transferred into wallets typically associated with long-term holders and OTC settlement. On the surface, this movement leans positive, but when considered alongside the realized price of accumulation addresses, market signals remain relatively complex.
According to CryptoQuant on-chain data, total institutional BTC holdings, including trusts, ETFs, and closed-end funds, have decreased from 1.33 million BTC three months ago to 1.2 million BTC, a decline of approximately 10%. Meanwhile, the corporate Bitcoin treasury model is also facing pressure. Novaque Research analysts pointed out that the market cap of multiple Bitcoin treasury companies has currently fallen below the net asset value (NAV) of their BTC holdings, and the previous positive cycle mechanism of "stock price premium → financing to buy BTC → strengthening premium" has significantly weakened. The listed company with the largest holdings, Strategy, even sold 1,638 BTC last week.
Odaily News: CryptoQuant analyst Darkfost posted on platform X, stating that the cumulative trading volume of the Trump family-linked stablecoin USD1 on Binance has surpassed $50 billion. Data shows that since its launch over a year ago, USD1 has experienced rapid growth in trading scale. The stablecoin was launched by World Liberty Financial in March 2025, a project co-founded with the participation of the Trump family. USD1 is primarily backed by U.S. dollars and short-term U.S. Treasury assets, and adopts an institutional-oriented compliance framework. Currently, the market cap of USD1 has exceeded $4 billion.
CryptoQuant stated that as crypto asset prices remain under pressure, large holders are increasing their positions in Bitcoin, Ethereum, and XRP, indicating they may be preparing for the next market cycle.The firm believes this behavior suggests the current bear market may have entered its final phase. However, CryptoQuant also emphasized that the market has not yet confirmed a bottom, and prices could still decline further.CryptoQuant Research Head Julio Moreno stated that the largest holder groups of BTC, ETH, and XRP are increasing their supply holdings as prices approach or fall below their realized prices. This shift in positioning helps reduce downward pressure and aligns with characteristics typical of the late stage of a cyclical downturn.Data shows that, excluding exchanges and mining pools, Bitcoin whale balances have rebounded from a low of approximately 2.87 million BTC in December 2025 to roughly 3.06 million BTC. This data also excludes holdings by ETFs or digital asset treasury companies.CryptoQuant noted that Bitcoin whale holdings have maintained a positive 30-day growth for most of 2026, and accumulation intensified when Bitcoin fell below $60,000 in June. However, current whale balances remain below the 2025 bull market peak of approximately 3.23 million BTC, suggesting there is still room for continued accumulation.
CryptoQuant analyst Darkfost stated on the X platform that the current Bitcoin (BTC) supply profit ratio is approximately 52%, meaning nearly half of Bitcoin holdings are still at a loss, and the market is approaching a key turning point in the bear market cycle.The analysis points out that historically, during each bear market, the Bitcoin profitable supply ratio eventually falls below 50%, entering a stage where "loss-making positions are in the majority." This typically signals further release of market pressure and serves as an important indicator of the late bear market phase.Data shows that in June and July of this year, the Bitcoin profitable supply ratio briefly fell below 50%, but overall it remained near the critical level. Analysts believe this indicates that the current bear market cycle has entered a deeper stage.The analysis states that regardless of where the final market bottom price lies, the Bitcoin market may currently be entering the final phase of the bear market.However, the profitable supply ratio only reflects the on-chain cost structure of holdings and cannot alone determine the market bottom. Further observation combining indicators such as capital flows, macroeconomic conditions, and market sentiment is still required.
CryptoQuant analyst Darkfost stated in a post that while Bitcoin continues to oscillate within the $60,000 to $65,000 range, the Binance Whale Inflow Ratio has risen to 0.52, hitting a new high in nearly four months. The rise in this indicator suggests that compared to retail and small-to-medium traders, whales have recently transferred more Bitcoin to Binance, implying that potential selling pressure in the market has increased.
CryptoQuant 分析师 Moreno 发文表示，数据显示，USDT 市值正经历历史上较为剧烈的收缩阶段，60 日市值变动约为减少 40 亿美元，接近历史低位区间。过去 11 天内，USDT 供应量进一步减少约 8.7 亿美元，表明收缩趋势仍在延续。
Odaily News, CryptoQuant analyst Moreno stated that USDT liquidity is experiencing one of the most severe contraction phases in its history. The 60-day change in USDT market cap has fallen to approximately -$4 billion, nearing historical extreme negative levels. Meanwhile, liquidity contraction is still accelerating, with USDT supply decreasing by approximately $870 million over the past 11 days, indicating this is not merely a lagged effect of earlier redemptions.Stablecoins are the most direct source of available liquidity in the crypto market. Sustained USDT expansion is typically accompanied by stronger BTC price performance, while prolonged contraction phases often correspond to weak demand, market pullbacks, and declining risk appetite. However, the correlation between USDT flows and BTC price does not prove direct causation—both may be simultaneously influenced by risk-aversion sentiment, with redemption pressure and spot selling occurring in tandem. The current BTC decline is not an isolated event but is occurring against the backdrop of one of the market's primary liquidity sources steadily shrinking, which also explains why recent bounces have been difficult to sustain. To improve market conditions, we need to see the 60-day change in USDT stabilize, daily supply contraction slow, and a return to an expansion phase.
Odaily News - CryptoQuant analyst Darkfost stated on the X platform that on August 1, short-term holders (STH) transferred over 32,000 BTC to exchanges, with all of these bitcoins being sold at a loss. This event became one of the largest loss-making sell-offs by short-term holders in the past 30 days. He noted that market chips are shifting from more conviction-driven long-term holders to short-term holders.
as the suspected hacking incident involving Coldcard wallets continues to unfold, Bitcoin small-value transfers have surged significantly, reaching their highest level since the FTX exchange collapse, reigniting market discussions on Bitcoin self-custody security.Julio Moreno, Head of Research at CryptoQuant, disclosed data on X platform showing that the number of on-chain Bitcoin transfers below 1 BTC has risen to its highest level since November 2022, with approximately 39,600 BTC transferred in a single day—only about 300 BTC below the record of 39,900 BTC set on November 16, 2022, just days after FTX filed for bankruptcy. He believes that users proactively taking action to address risks is a positive signal. Additionally, Eric Balchunas, Senior ETF Analyst at Bloomberg, noted that Bitcoin ETFs, backed by a mature regulatory framework and convenience, may offer some users a safer investment approach.However, industry insiders point out that the Coldcard incident more likely reflects issues with a single wallet provider or specific security processes, rather than indicating a failure of the entire Bitcoin self-custody system. This event once again highlights the importance of security awareness, risk diversification, and wallet usage habits in personal asset management.
CryptoQuant analyst Axel Adler Jr stated that data shows Bitcoin is shifting from short-term speculators to long-term holders. The share of Short-Term Holders (STH) has dropped to 23%, the lowest level since the bottoming phase from 2022 to 2023; meanwhile, the share of Long-Term Holders (LTH) is approaching historical highs.
On-chain data shows that Avalanche (AVAX) currently has approximately $204.77 million worth of tokens staked, accounting for about 43% of the circulating supply, with a large amount of holdings locked. Meanwhile, according to CryptoQuant data, whale investors are adding positions simultaneously in the spot and futures markets, positioning in advance without waiting for breakout confirmation. Technically, AVAX is currently consolidating near the apex of the pennant pattern at $6.46, and the Stochastic RSI has not yet touched the oversold zone. According to the CoinGlass liquidation heatmap, over $1 million in liquidity is clustered near the $6.90 price level, becoming the next key target price for bulls.
CryptoQuant analyst Darkfost stated that since July, sentiment in the derivatives market has recovered, and the Binance funding rate, as an important reference indicator for the futures market, has started to turn positive again. He believes that from March to late May, Bitcoin experienced a deep correction, market pessimism accumulated and drove the funding rate to turn negative at one point, and this process once provided support for Bitcoin's technical rebound.
CryptoQuant analyst Darkfost posted that data shows the volume of Bitcoin long-term holders (LTH) inflows to exchanges recently reached a phased high. Based on the 90-day average, current long-term holder inflows account for 5.1% of total exchange inflows, approaching historical highs, surpassed only by the level of approximately 5.5% in 2020.
CryptoQuant 分析师 Darkfost 表示，数据显示，7 月比特币现货成交量延续下滑趋势，主要交易平台较 2024 年末高点普遍显著回落，整体市场活跃度已接近 2023 年熊市后期水平。其中，币安 7 月现货成交额超过 350 亿美元，但明显低于 2024 年 11 月的 2460 亿美元；同期，Bybit、Coinbase 和 OKX 的现货成交量分别下降 85%、61% 和 67%，显示成交萎缩并非单一平台现象，而是全球性趋势。
CryptoQuant analyst Darkfost stated that since the beginning of the year, Bitcoin's overall demand structure has shown weakness, primarily exhibiting two states: first, simultaneous contraction of spot and futures demand; second, a brief rebound in futures demand driven solely by speculation, while spot demand continued to shrink.