Is Bitcoin Consolidating or Correcting? - Assessing the 1-April Sell-off (Bitcoin Onchain Analysis)

In this edition we assess the current Bitcoin market conditions as the market sells off from the $73k peak. The key question we seek to answer is whether this is a correction, a consolidation, or something larger.

Timestamps
0:00 Introduction
3:15 Analysis of Market Drawdowns
5:23 Bull Market Corrections
7:20 Bitcoin Prints $18.8k Monthly Candle
8:15 Bitcoin ETF Balances
11:25 ETF Flow and Trade Volumes
13:50 MVRV Indicates The Market is Heating Up
18:00 STH-MVRV Also Reaches Heated Levels
18:55 Net Realised Profit Taking
23:15 Sell-Side Risk Ratio
25:40 Realised Profit/Loss Momentum

[primetimeperformance]

So consolidating or correcting? I heard the sizzle, now where’s the steak? What’s your position?

[jeromejalibat]

Thanks Checkmate for a great video helps a lot navigating your website.

[NoThanksCryptoScammer-BTC_only]

Thank you, this is helpful. One request, for the people tuning in wanting to know have we reached a top or bottom (and are a bit less concerned about all the details, charts, graphics, etc) it would be very useful to have a TL;DR at the start simply saying “the charts we are about to review in depth say … “. Then for those that watched till the end a simple black and white, make it obvious, statement of where we are in the cycle for example “my gut feeling with a 80% confidence level is … “. Hope this helps please keep up the good work. I plan on subscribing to your services.

[astrozombie]

This is great!! And also your website. Following your work since day 1 almost. One of my favourite metrics is the Bitcoin Cycle Extreme Oscillators, worth keeping an eye on in this upcoming bull market. Greetings from Argentina and keep up the excellent work mate !!

[tateplaystransformers]

Mate, from nz here and love your content, been following your across platforms for years now, one of the key datapoints I look at for signal.

[JBroadway]

Great content, I hope you continue to upload to your personal account 👏🏾

[tibx]

Hi mate, big fan of your work here. Watch the weekly glassnode review as well. My only complain though is that you only present the facts and graphs, great explanation but never provide your own final conclusion: based on what you see accross all the data, where do we head next.

[aaryank]

It's great to have you back, mate .

[runningrock]

great data and presentation!
thank you for the hard work and sharing it, mate.

[cryptovizart]

Grabbing my 🍿 and watching this while my 🌽 is safe in my wallet

[mvwoods]

I'm confused. Are you still at Glassnode? How does this channel differ from the Glassnode channel?

[AlexandreGandini]

Hey check, which javascript library are you using to render the charts on your website? They are gorgeous.

[cryptoapple]

Thanks mate! Good to see the metrics and your explanation! Keep up the good work!

[deroly]

Very helpful analysis 👌 I’ll send this one to my friends trading group with a lot of newbies

[davidd]

this was great - thanks for the update!

[BogdanZurac]

Looking forward to seeing more of your content! Cheers!