📊Onchain Report for Monday
Summary of the data
✅ETH – Mid-sized whales have unrealized profits at the “peak of 2021”
- Wallets holding 10K–100K ETH currently have unrealized profits similar to the peak cycle in November 2021.
- This indicates that whales are sitting on significant profits → there is a risk of increased selling pressure if sentiment changes.
✅Coinbase Reserves reach $112B – Highest in 4 years
- BTC, ETH & stablecoin reserves on Coinbase have reached 112 billion USD, the highest since the peak of the previous cycle (2021).
- This is a signal that capital is returning to the exchange from both retail and institutions → reflecting confidence and improving market liquidity.
- History shows that when reserves increase, the market often gains additional upward momentum.
✅BTC – Dashboard Liquidation & Positioning (Glassnode)
- After FOMC: Shorts in the 117K range were liquidated, longs began to be liquidated in the 112.7K range.
- Currently, traders are net short -485 BTC → sentiment remains cautious.
- Liquidation Wall: there are ~5k BTC longs at risk of being “stopped out” if support breaks, but simultaneously, the amount of shorts at high levels is also significant → creating a two-sided risk (could squeeze both longs and shorts).
👉👉👉Summary:
ETH: Whales are making significant profits → risk of profit-taking if the market weakens, but if they continue to hold → it forms a foundation for a stronger uptrend.
BTC: Short-term traders lean towards shorts, but with a high accumulation of shorts, if prices hold above 114K–117K → a short squeeze is likely to push prices up.
The market is in a sensitive phase – ETH whales could create selling pressure, BTC faces two-sided risk from derivatives, but large capital returning to Coinbase indicates a bullish outlook in the medium to long term.
