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Glassnode Glassnode @glassnode · 44.1K subscribers
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The Week On-Chain 38, 2024
The Bitcoin market is currently experiencing a period of stagnation, with both demand and supply sides showing signs of inactivity. The market is characterized by minimal capital inflows and outflows, as the stagnant Realized Cap indicates.

Executive Summary
- Market demand-side remains lacklustre for digital assets, with the magnitude of both capital inflows and outflows remaining small in scale.
- HODLing remains the primary investor dynamic, with all measures of actively tradable supply declining and large volumes of coins maturing into Long-Term Holder status.
- Price action has been remarkably stagnant over the past six months, driving all variants of the Sell-Side Risk Ratio to low levels, suggesting an expectation for higher volatility ahead.

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