The Week On-Chain, Week 3, 2025

Following two months of consolidation, Bitcoin has broken upwards from its rangebound conditions and surged to a new ATH of $109k. In this article, we evaluate the conditions leading into this move to demonstrate signals of impending volatility.

Executive Summary

🔸Capital flows into Bitcoin remain positive, although they have declined in magnitude since first reaching $100k. This highlights a period of declining sell-side pressure as the market approaches a near-term equilibrium.

🔹Sell-side pressure from long-term investors has also declined, alongside volumes deposited to exchanges for sale.

🔸Several measures of volatility are tightening up, with the market trading within a historically narrow 60-day price range, often a sign that the market is almost ready to move again.

Read Week On-Chain and discover more insights