CryptoQuant.com2022-06-10

BTC is moving sideways for a month while the leverage is piling up.

📈 Supply/Demand: All Exchanges' reserves remain at over a 3-year low. Spot Exchanges reserves have decreased including Coinbase. Derivatives Exchanges' reserve is remaining at the same level. 😐 Technical Oscillators: In a weekly time frame, it seems neutral. 📈 Whale Accumulation: Whales and miners are holding. Fund flow ratio is increasing which indicates trading is growing in the exchanges. The number of BTC being transferred to Derivatives Exchanges is on a decreasing trend but is still high. 😐 Market Sentiment: Positive sentiments are slightly stronger among the futures investors, with the growing number of taker buy volume and a positive funding rate. Open interest is at the same level as last week and the estimated leverage ratio value is staying above the previous week's all-time high. 😐 On-chain Indicators: Both short-term and long-term holders are selling at a loss. NUPL indicator signals that the current Bitcoin price is reaching close to the undervalued position.