The Monthly Realized Cap Growth for short-term holders (STH) has been on a positive trend since August. STHs are defined here as the cohort of bitcoin:native holders who have held their coins for less than 150 days. It's interesting to note that, on a monthly average, their Realized Cap growth sits at almost 10%. When the STH Realized Cap rises like this, it means recent buyers have entered the market, which can represent a fresh injection of liquidity for Bitcoin. For now, this isn't yet significant, but what matters most is that it's sustained, since excesses are never particularly healthy. Chart Link : bitview.space/charts/distrib…

This continuously rising line is the reason Bitcoin follows the same trend. This is the HODLer line, derived from the thinking behind Cointime Economics (hello @_Checkmatey_ and @dpuellARK ) This metric is based on the calculation of cumulative coinblocks created minus cumulative coinblocks destroyed. A coinblock is one Bitcoin held for one block. Coinblocks Stored therefore shows that Bitcoin's holding time is accumulating faster than the time consumed by spending. It now stands above 5.15T coinblocks, and the trend isn't changing. HODL 🙌💎 Chart Link : studio.bitview.space/#chart=…

It's time to keep an eye on the profits that could be realized now that Bitcoin seems to have shifted its momentum. There is a large asymmetry between the unrealized profits of LTHs and STHs. On this chart, they are shown as a percentage of Bitcoin's market capitalization. LTH unrealized profits are estimated at 38% of market cap, while those of STHs are only 1.8%. This asymmetry is perfectly normal given that most of the supply is held by LTHs. However, unrealized profits for both cohorts remain fairly low. Comparing LTH unrealized profits with their history, we can see that at 38% they are still at relatively low levels for now. Probably still too low to trigger large-scale profit-taking. Chart Link : bitview.space/charts/distrib…

Even though bitcoin:native has recovered well since its low of around $58 000 in June, capital in loss still dominates trading. That said, the gap has narrowed significantly, and we can see a pattern that tends to appear in every correction. Today, capital in loss is estimated at $633 billion, versus $449 billion in capital in profit. Coming out of the last bear market, it took almost a year from the bottom for capital in profit to settle durably above capital in loss. It's a phase in which the market shows some inertia before it manages to build a more decisive momentum. Chart Link : studio.bitview.space/#chart=…

bitcoin:native continues to trade above the STH cost basis, i.e. the cost basis of holders who have held BTC for less than 150 days. It is currently estimated at around $74 400 and is an interesting level where STHs could step in on the market if BTC were to come back and test their conviction. We can also see that it keeps rising: in mid-August it was at $67 000, a sign that STHs are accumulating as Bitcoin climbs. On the other hand, the cost basis of STHs who are currently at a loss is $84 000, while the cost basis of STHs in profit is estimated at $70 500. There is therefore a significant disparity among STHs, implying both realized profits and realized losses. Chart Link : bitview.space/charts/distrib…