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CryptoQuant certified analyst Axel Adler Jr. noted in a post that over the past 24 hours, Bitcoin's price rose slightly by 0.4%, but selling pressure in the derivatives market has significantly intensified. The Bitcoin Derivatives Pressure Index dropped from -25.36 to -60.80, remaining below zero since September 6, indicating that sellers still dominate. Meanwhile, Coinbase continues to trade at a discount relative to Binance, with the latest Coinbase Premium Index at -0.0455% and its 48-hour average at -0.0323%, showing further weakening over the past 24 hours.
CryptoQuant analyst Darkfost stated in a post that the total stablecoin market cap has dropped to $144.5 billion, falling below the 365-day moving average of $147.4 billion. Over the past year, stablecoin market outflows have exceeded inflows, which is typically characteristic of a bear market. Darkfost further pointed out that the current market needs to see a reversal of this long-term capital flow trend, driving the total stablecoin market cap back above its annual average.
According to CryptoQuant analyst Darkfost, this round of Bitcoin's rally has pushed investor sentiment to its most optimistic level in nearly two years, with relevant market sentiment indicators briefly surpassing 89 points into the "Extreme Greed" zone, the last time similar levels were seen in March 2024. Darkfost pointed out that when market sentiment becomes excessively optimistic or pessimistic, it often warrants attention for potential trend reversals. Currently, the indicator has begun to retreat from its previous frenzied levels and is gradually returning to a relatively normal range, while the Bitcoin price is attempting to hold its current level.
CryptoQuant analyst Axel Adler Jr. posted that on-chain data shows the percentage of Bitcoin's supply in profit has rebounded from 47% at the end of June to 69%, moving out of historically typical market stress zones. Meanwhile, the 90-day change of this metric quickly reversed from -19% in early August to +41%, marking one of the fastest recoveries in Bitcoin's history.
Odaily News: Digital asset trading platform Gate has released its August 2026 Transparency Report. The report shows that in August, multiple Gate business lines received recognition from institutional data providers including CoinDesk, CryptoQuant, CryptoRank, and DefiLlama. Among them, Gate's stock perpetual contract trading volume grew 308% month-over-month, maintaining triple-digit growth for three consecutive months; the RWA perpetual contract open interest (OI) market share reached 49.6%, ranking first globally among centralized trading platforms. Meanwhile, Gate's 24-hour spot and derivatives trading volume stood at approximately $9.5 billion, with open interest reaching $12.48 billion, both ranking among the global top three; 30-day net inflow reached $308.1 million, ranking second among mainstream trading platforms.In terms of traditional financial asset trading, Gate's CFD business continues to expand its asset coverage, now covering 680 trading pairs, spanning major TradFi assets including forex, metals, energy, indices, and stocks. In terms of overall TradFi product layout, Gate now covers over 1,000 TradFi assets, with stock derivatives covering more than 360 underlying assets, both ranking first globally, further enhancing its multi-asset trading matrix.As digital assets and traditional financial markets continue to converge, Gate is steadily expanding diverse trading scenarios including stocks, RWA, CFD, and derivatives. By enriching asset supply and trading tools, it is further improving its comprehensive trading infrastructure that connects digital assets with traditional financial markets.
CryptoQuant analyst Axel Adler Jr. stated that from August 19 to September 10, short-term Bitcoin holders (with holding periods of no more than six months) transferred a total of 549,300 BTC to exchanges. During the same period, Bitcoin's price rose from $64,000 to $78,000, up approximately 21%; after touching a local high of $81,800, it pulled back by about 4.1%, but still retained most of its gains.
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.
CryptoQuant analyst Axel Adler Jr. stated that over the past two days, Bitcoin's active buy and sell order pressure has shifted to sellers, with prices falling from $79,900 to $78,700. Open interest rose during the price decline, indicating that new positions are driving this move. Data shows that on the morning of September 6, the Bitcoin active order pressure oscillator was at +3.82, before breaking below zero and remaining in negative territory for 46 hours, with the latest reading at -3.19. Although selling pressure has eased from its local low of -5.28, bulls have not yet regained control. The near-term outlook remains bearish, with improvement signaled only when the oscillator consistently returns above the zero line, accompanied by price stabilization.
CryptoQuant analyst Axel Adler Jr. stated that Bitcoin's 30-day realized market cap change rate turned positive on August 24 after being negative for 87 consecutive days, reaching +0.88% on September 6. The realized market cap hit $1.068 trillion, increasing by $9.36 billion over the past 30 days, indicating an improvement in the on-chain cost basis after a prolonged contraction, which continued to rise while Bitcoin's price fluctuated around $80,000.
CryptoQuant analyst Darkfost noted on the X platform that the Bitcoin Short-Term Holder Spent Output Profit Ratio (STH SOPR) has recently undergone a noteworthy change. This metric measures profit realization among short-term holders whose holding period is less than six months, and it has now risen above 1 to approximately 1.01, marking the first time in over a year that it has entered profitable territory.
CryptoQuant analyst Darkfost stated that as BTC climbed back to approximately $82,000, Binance Bitcoin futures open interest increased by nearly 8% over the past 24 hours, surpassing $10 billion and reaching a near six-month high. Open interest denominated in BTC also rose to 125,830 coins.
Odaily News, CryptoQuant posted on the X platform that Bitcoin’s recent climb toward the $80,000 mark has been accompanied by notable market activity. Data shows spot trading volume has increased roughly 3 to 4 times compared to earlier levels, with Binance accounting for the largest share.At the same time, whale inflows remain consistently active, with hourly inflows exceeding 2,000 BTC on multiple occasions and the average deposit size per transaction rising above 50 BTC. Additionally, the volume of altcoins deposited into exchanges has also grown by approximately 3 times, indicating that market participation is expanding once again.
CryptoQuant analyst Axel Adler Jr. stated that the phase of 113 consecutive days of stablecoin net outflows has ended, with market liquidity showing signs of stabilization. However, positive stablecoin net inflows contracted by 51% over two days, while all three Stablecoin Supply Ratio (SSR) oscillator indicators remain above the zero line. While liquidity has stabilized for now, whether market demand has truly returned still requires further confirmation.
CryptoQuant analyst Darkfost stated that crypto market liquidity saw a slight recovery in August, with stablecoin funds beginning to flow into exchanges. Binance recorded over $1 billion in net stablecoin inflows for the month, but relative to the overall fund flow volume on its platform, it remains relatively modest.
CryptoQuant analyst Darkfost stated that Bitcoin market demand has declined again. Although short-term holders continue to take profits and selling pressure remains steady, apparent demand has turned negative once more, indicating a significant weakening of demand over the past few days. He noted that this shift is also reflected in Bitcoin's price structure, with the current trend showing weakness. If demand does not recover in the short term, Bitcoin could face further downside risks.
CryptoQuant analyst Axel Adler Jr. stated in a post that the price rebound following a short squeeze increased the profit levels of Bitcoin long-term holders (LTH), driving a substantial rise in their distribution activity. From August 18 to 28, the aggregate 30-day distribution volume by LTHs climbed from 174,500 BTC to 281,900 BTC, a 61.5% increase that marks the highest level since early 2026.
CryptoQuant analyst Amr Taha stated that the 60-day accumulation for Bitcoin holders in the 100–1,000 BTC range reached 73,300 BTC, marking the highest level since April 21. Meanwhile, the group holding over 10,000 BTC continues to maintain significant positive accumulation, amounting to 43,300 BTC.
Odaily News: CryptoQuant analyst Darkfost posted on X, stating that as BTC price approaches $80,000, selling activity among long-term holders (LTH) has increased significantly. Data shows that long-term holders had been in a continuous net accumulation state, with their monthly average net supply growth reaching 286,000 BTC in early June. However, this has now shifted to a net decrease of approximately 21,000 BTC — the first time this year that the amount of BTC sold or transferred by long-term holders has exceeded the amount newly entering long-term holding status.Meanwhile, the amount of BTC transferred by long-term holders to exchanges has risen to its highest level since 2026, with holders of 6 to 18 months being the most active, transferring over 297,000 BTC to exchanges. This signal warrants close attention. Although market demand has improved, increased selling pressure from long-term holders could once again tilt the market's supply-demand balance in favor of sellers.
CryptoQuant analyst Axel Adler Jr. stated that Bitcoin fund flows turned positive for the first time in nearly three months, though the inflow stood at just 0.21%, making it one of the weaker positive readings in recent years. The current shift primarily reflects the flip in flow direction to positive, with no signs yet of a return to strong demand.
CryptoQuant analyst Darkfost posted on X, stating that with the recent rise in ETH, whales of various sizes have returned to floating profits. However, current unrealized profits remain relatively limited, and no significant profit-taking pressure has yet formed.Data shows that the unrealized profit/loss ratio for addresses holding 1,000 to 10,000 ETH stands at 0.075, while that for addresses holding 10,000 to 100,000 ETH is 0.16. For large whales holding over 100,000 ETH, the ratio reaches 0.38.This indicator measures unrealized profit or loss by comparing the value of ETH at the time of its last transfer with its current value, providing insight into the overall profitability or loss of large holders.