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Xwin Finance is a DeFi strategy platform that allows users to increase returns through its index and trading vaults.
Analysis: Whale Net Accumulation Turns Positive at 5,230 BTC Over 60 Days, Bitcoin Spot Demand Remains Weak
Odaily report: According to XWIN monitoring, Bitcoin on-chain data reveals a divergence between whale behavior and the spot market. Large holders holding 1,000 to 10,000 BTC have seen their 60-day net accumulation shift from a decrease of 62,600 BTC to an increase of 5,230 BTC, with major whales shifting from distribution to accumulation.Binance's USDT reserves have increased from approximately $790 million to $1.76 billion. US spot buying has not increased in tandem, with the Coinbase Premium Index at approximately negative 0.1416% and exchange net inflows of 8,428 BTC per week. STH-SOPR is approximately 0.9982, with short-term holders still near the break-even point and selling at small losses.XWIN stated that the market's underlying structure is improving, but a sustainable rebound still requires stronger spot demand. XWIN suggests monitoring whether the Coinbase Premium Index, exchange net flows, and STH-SOPR can rise above 1.
Analysts: BTC exchange reserves rebound to approx. 2.68 million, spot demand turns negative once again as whale accumulation diverges.
CryptoQuant analyst XWIN Japan stated that data indicates Bitcoin still possesses certain bottoming conditions, but the recovery in supply and demand remains uneven. Exchange BTC reserves have rebounded from approximately 2.67 million in early October to around 2.68 million. Although this figure remains below January levels, it suggests that exchange supply is no longer continuing to decline. Furthermore, the increase in reserves may also result from custody adjustments and cannot be directly interpreted as rising selling pressure.
Analyst: Bitcoin Market Structure Improves, Spot Demand Still Needs Confirmation of Breakout
CryptoQuant analyst XWIN Japan stated that the Bitcoin market structure remains constructive, but subsequent price action depends on whether genuine spot demand can absorb market supply. ETF holdings continue to rise, indicating that institutional investors are still accumulating BTC, and large investors are also forming buy-side support near current price levels.
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Analysis: Whale Net Accumulation Turns Positive at 5,230 BTC Over 60 Days, Bitcoin Spot Demand Remains Weak
Odaily report: According to XWIN monitoring, Bitcoin on-chain data reveals a divergence between whale behavior and the spot market. Large holders holding 1,000 to 10,000 BTC have seen their 60-day net accumulation shift from a decrease of 62,600 BTC to an increase of 5,230 BTC, with major whales shifting from distribution to accumulation.Binance's USDT reserves have increased from approximately $790 million to $1.76 billion. US spot buying has not increased in tandem, with the Coinbase Premium Index at approximately negative 0.1416% and exchange net inflows of 8,428 BTC per week. STH-SOPR is approximately 0.9982, with short-term holders still near the break-even point and selling at small losses.XWIN stated that the market's underlying structure is improving, but a sustainable rebound still requires stronger spot demand. XWIN suggests monitoring whether the Coinbase Premium Index, exchange net flows, and STH-SOPR can rise above 1.
Analysts: BTC exchange reserves rebound to approx. 2.68 million, spot demand turns negative once again as whale accumulation diverges.
CryptoQuant analyst XWIN Japan stated that data indicates Bitcoin still possesses certain bottoming conditions, but the recovery in supply and demand remains uneven. Exchange BTC reserves have rebounded from approximately 2.67 million in early October to around 2.68 million. Although this figure remains below January levels, it suggests that exchange supply is no longer continuing to decline. Furthermore, the increase in reserves may also result from custody adjustments and cannot be directly interpreted as rising selling pressure.
Analyst: Bitcoin Market Structure Improves, Spot Demand Still Needs Confirmation of Breakout
CryptoQuant analyst XWIN Japan stated that the Bitcoin market structure remains constructive, but subsequent price action depends on whether genuine spot demand can absorb market supply. ETF holdings continue to rise, indicating that institutional investors are still accumulating BTC, and large investors are also forming buy-side support near current price levels.
Analysis: ETH/BTC Exchange Rate Rises to 10-Week High, Ethereum Outperforms Bitcoin Recently
Odaily News The ETH/BTC exchange rate has risen to a 10-week high, with Ethereum outperforming Bitcoin recently. The ratio broke through the resistance of the downtrend line since August 2025 and has risen above the 50-day and 100-day exponential moving averages. XWIN Research pointed out that the staff statement issued by the U.S. Securities and Exchange Commission on April 13 explained that DeFi frontends and wallet interfaces do not need to register as broker-dealers if they meet conditions such as non-custody and a neutral fee structure, which has driven Ethereum's strength.On-chain data shows an upward trend in active addresses, and the Coinbase premium gap is also improving, indicating a recovery in institutional demand in the United States. Enterprise-level accumulation is accelerating; Bitmine accumulated 279,000 ETH in the past 30 days and currently holds 4.87 million ETH, accounting for over 4% of the circulating supply. In the futures market, the global ETH open interest reached $16.37 billion, and the funding rate remains negative, indicating that shorts dominate. However, the open interest on Binance increased by 10.47% to $6.04 billion, and the funding rate turned positive, creating an extreme imbalance between global shorts and longs on Binance.