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Analysis: Buyback inflow is returning significantly, Bitcoin shows cross-cohort accumulation and enters a “buy-the-dip” phase
: On-chain data analytics platform Glassnode posted on X that its “Accumulation Trend Score” indicator shows that after Bitcoin’s price dipped to the $60,000 range in early June, the overall behavior of on-chain addresses has notably shifted toward accumulation.This indicator measures the intensity of on-chain accumulation behavior by combining holding sizes with recent balance changes. A score close to 1 represents widespread accumulation, while a score near 0 indicates ongoing distribution.Glassnode notes that as the price enters lower ranges, the scores for holders of different sizes rise simultaneously, indicating a typical “buy-the-dip” market structure. That is, the price decline did not trigger sustained selling, but instead sparked stronger on-chain demand inflows.Analysts believe that this cross-cohort synchronized accumulation structure typically appears in the early stages of market sentiment recovery, reflecting that medium- to long-term capital is being repositioned.
Analysis: Bitcoin MVRV Metric Suggests Bear Market May Be Nearing Its End, But Bottom Not Yet Confirmed
According to Odaily, a key on-chain indicator for Bitcoin, the Market Value to Realized Value Z-Score (MVRV Z-Score), is approaching the typical threshold seen at historical bear market bottoms. This metric measures the deviation of Bitcoin's market price from its realized value (the average cost of each coin since its last on-chain transaction), helping investors determine whether the asset is overvalued or undervalued.Data shows that the current MVRV Z-Score stands at 0.24, approaching the upper boundary of the green zone historically considered the "accumulation range" (around 0 and below). Historically, the bottom of every major bear market has occurred when this indicator touched or briefly dipped into the green zone: during the first major crash in 2011-2012, in 2014, at the end of 2018, and in the second half of 2022, each time paving the way for a subsequent bull run.However, the absolute bottom has not yet been confirmed. On-chain data shows that the Short-Term Holder MVRV (STH-MVRV) is 0.84, while the Long-Term Holder MVRV (LTH-MVRV) remains as high as 1.29, indicating that long-term holders still possess substantial unrealized profits. Historically, when the MVRV of short-term and long-term holders converge, a cyclical bottom tends to form (as was the case in 2015, 2019, and 2022).Although it is difficult to precisely predict the market bottom, after the hundreds of billions of dollars in sell-offs last week, conditions that have historically signaled a rebound are gradually emerging. This suggests that the Bitcoin bear market may be approaching its end, and investors can monitor on-chain MVRV indicators and changes in holder behavior to identify potential buying opportunities. (CoinDesk)
XBIT DEX Prediction Market Leverage Officially Launched, 1.1 Million USDC World Cup Event Goes Live Simultaneously
According to official news from XBIT DEX, on June 11, the leverage function of the XBIT DEX prediction market was officially launched. High-liquidity markets will initially support up to 5x leverage. The "XBIT World Cup Event" commenced on the same day, featuring a total prize pool of 1.1 million USDC, and will run until the final on July 19.The prediction market for the opening match, Mexico vs. South Africa, is now open. Current market expectations indicate a 69% probability of a Mexico win, 21% for a draw, and 11% for a South Africa win. Markets covering outcomes such as Match Winner, Handicap, Over/Under, Correct Score, and Corners have been launched simultaneously, spanning 48 teams and 104 matches.During the event, both contract trading and prediction market trading will earn prediction vouchers, which can be used to participate in the daily feature match. Correct predictions will split the prize pool for that match. The single-match prize pool increases as the tournament progresses, with the final offering a maximum of 150,000 USDC. Additionally, dual leaderboards for contracts and the prediction market have been established.
Ronin to Migrate to Ethereum Layer 2 on May 12, RON Inflation Rate Expected to Drop Below 1%
gaming-focused blockchain Ronin has announced its migration to an Ethereum Layer 2 network on May 12. The underlying architecture will utilize the OP Stack and integrate EigenDA as the data availability layer. Chain operations are expected to be paused for approximately 10 hours during the migration. The team advises users to unstake their RON in advance or allow the system to handle it automatically after the migration is complete.Following the upgrade, RON's annual inflation rate is projected to decrease from over 20% to less than 1%. Additionally, the treasury will gain new revenue streams from staking rewards, Sequencer net profits, and Marketplace fees. Furthermore, Ronin has introduced a "proof of allocation" incentive mechanism based on "Builder Score," distributing RON rewards to ecosystem builders on a monthly basis.
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Analysis: Buyback inflow is returning significantly, Bitcoin shows cross-cohort accumulation and enters a “buy-the-dip” phase
: On-chain data analytics platform Glassnode posted on X that its “Accumulation Trend Score” indicator shows that after Bitcoin’s price dipped to the $60,000 range in early June, the overall behavior of on-chain addresses has notably shifted toward accumulation.This indicator measures the intensity of on-chain accumulation behavior by combining holding sizes with recent balance changes. A score close to 1 represents widespread accumulation, while a score near 0 indicates ongoing distribution.Glassnode notes that as the price enters lower ranges, the scores for holders of different sizes rise simultaneously, indicating a typical “buy-the-dip” market structure. That is, the price decline did not trigger sustained selling, but instead sparked stronger on-chain demand inflows.Analysts believe that this cross-cohort synchronized accumulation structure typically appears in the early stages of market sentiment recovery, reflecting that medium- to long-term capital is being repositioned.
XBIT DEX Prediction Market Leverage Officially Launched, 1.1 Million USDC World Cup Event Goes Live Simultaneously
According to official news from XBIT DEX, on June 11, the leverage function of the XBIT DEX prediction market was officially launched. High-liquidity markets will initially support up to 5x leverage. The "XBIT World Cup Event" commenced on the same day, featuring a total prize pool of 1.1 million USDC, and will run until the final on July 19.The prediction market for the opening match, Mexico vs. South Africa, is now open. Current market expectations indicate a 69% probability of a Mexico win, 21% for a draw, and 11% for a South Africa win. Markets covering outcomes such as Match Winner, Handicap, Over/Under, Correct Score, and Corners have been launched simultaneously, spanning 48 teams and 104 matches.During the event, both contract trading and prediction market trading will earn prediction vouchers, which can be used to participate in the daily feature match. Correct predictions will split the prize pool for that match. The single-match prize pool increases as the tournament progresses, with the final offering a maximum of 150,000 USDC. Additionally, dual leaderboards for contracts and the prediction market have been established.
Analysis: Bitcoin MVRV Metric Suggests Bear Market May Be Nearing Its End, But Bottom Not Yet Confirmed
According to Odaily, a key on-chain indicator for Bitcoin, the Market Value to Realized Value Z-Score (MVRV Z-Score), is approaching the typical threshold seen at historical bear market bottoms. This metric measures the deviation of Bitcoin's market price from its realized value (the average cost of each coin since its last on-chain transaction), helping investors determine whether the asset is overvalued or undervalued.Data shows that the current MVRV Z-Score stands at 0.24, approaching the upper boundary of the green zone historically considered the "accumulation range" (around 0 and below). Historically, the bottom of every major bear market has occurred when this indicator touched or briefly dipped into the green zone: during the first major crash in 2011-2012, in 2014, at the end of 2018, and in the second half of 2022, each time paving the way for a subsequent bull run.However, the absolute bottom has not yet been confirmed. On-chain data shows that the Short-Term Holder MVRV (STH-MVRV) is 0.84, while the Long-Term Holder MVRV (LTH-MVRV) remains as high as 1.29, indicating that long-term holders still possess substantial unrealized profits. Historically, when the MVRV of short-term and long-term holders converge, a cyclical bottom tends to form (as was the case in 2015, 2019, and 2022).Although it is difficult to precisely predict the market bottom, after the hundreds of billions of dollars in sell-offs last week, conditions that have historically signaled a rebound are gradually emerging. This suggests that the Bitcoin bear market may be approaching its end, and investors can monitor on-chain MVRV indicators and changes in holder behavior to identify potential buying opportunities. (CoinDesk)
Bitget Launches Global Affiliate Program with a $1 Million USDT Prize Pool
Bitget has announced the launch of its global affiliate recruitment program, “Score Your 40%,” which will run worldwide throughout June with a total prize pool of $1 million USDT. This initiative aims to empower content creators and community leaders, helping them drive community growth and value conversion more effectively.
Ronin to Migrate to Ethereum Layer 2 on May 12, RON Inflation Rate Expected to Drop Below 1%
gaming-focused blockchain Ronin has announced its migration to an Ethereum Layer 2 network on May 12. The underlying architecture will utilize the OP Stack and integrate EigenDA as the data availability layer. Chain operations are expected to be paused for approximately 10 hours during the migration. The team advises users to unstake their RON in advance or allow the system to handle it automatically after the migration is complete.Following the upgrade, RON's annual inflation rate is projected to decrease from over 20% to less than 1%. Additionally, the treasury will gain new revenue streams from staking rewards, Sequencer net profits, and Marketplace fees. Furthermore, Ronin has introduced a "proof of allocation" incentive mechanism based on "Builder Score," distributing RON rewards to ecosystem builders on a monthly basis.