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⭐ Verified Author @CryptoQuant_com | @Alphractal | @CoinMarketCap Crypto Analyst | On-Chain Research Market Structure & Liquidity UAE 🇦🇪

UAE
Joined April 2022
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bitcoin:native: LTH Realized Supply Z-Score Nears Neutral Bitcoin’s LTH Realized Supply 365-day Z-Score has fallen to roughly +0.33, down from a 2026 peak near +5 and a later rebound around +3.5. The 365-day Z-Score tracks how far LTH Realized Supply sits from its one-year statistical norm. At +0.33, the metric is only modestly above that baseline, meaning the statistical excess behind the earlier 2026 expansion has largely faded. Historically, negative readings have often appeared after elevated LTH supply conditions normalize, during repair, consolidation, and early-trend phases of the Bitcoin cycle. A move below zero would not confirm a bull market. It would indicate that LTH Realized Supply has fallen below its trailing 365-day norm — a condition observed in both constructive and sideways market environments. Key takeaway: The 2026 LTH Realized Supply expansion has largely normalized. A move below zero would complete that reset and, in the current STH repair context, would lean constructive — provided demand keeps confirming it.
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Zizcrypto retweeted
bitcoin:native: Bubble Risk Cools as MoM Turns Negative @Alphractal Bubble Risk (MoM) has moved below zero to approximately -0.07, while Bitcoin trades near $80.5K. The underlying Bubble Risk measure has eased to 1.238, down from 1.273 a week ago and 1.336 at the October 4 local peak. The negative MoM reading reflects a decline in Bubble Risk over the 30-day comparison window, not a low absolute risk level. This points to moderating speculative excess from earlier this month, without implying that overheating risk has disappeared.
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bitcoin:native: Price Trades Above Rising 200DMA, Below Overbought Zone Bitcoin is trading near $82.7K, around 14% above its rising 200DMA baseline near $72.5K, while remaining below the 1.5× overbought valuation band near $108.7K. A retest of — or even a temporary move below — a rising 200DMA can remain compatible with a broader bull-market structure and does not, by itself, imply a bearish regime shift. This differs from sustained trading below a falling 200DMA, which would indicate a materially weaker long-term trend condition. The 1.5× band is a valuation reference — not a price target. It marks elevated extension relative to the 200DMA: BTC can reverse before reaching it or remain above it during strong momentum phases. Key takeaway: A temporary move below a rising 200DMA matters less than persistent trading below it while the average flattens or turns lower.
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bitcoin:native: Bubble Risk Cools as MoM Turns Negative @Alphractal Bubble Risk (MoM) has moved below zero to approximately -0.07, while Bitcoin trades near $80.5K. The underlying Bubble Risk measure has eased to 1.238, down from 1.273 a week ago and 1.336 at the October 4 local peak. The negative MoM reading reflects a decline in Bubble Risk over the 30-day comparison window, not a low absolute risk level. This points to moderating speculative excess from earlier this month, without implying that overheating risk has disappeared.
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Alpha Terminal? 👀
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🚨 @hyblockcapital Liquidation Levels $PEPE 🚨 ⚠️ Repost to keep the @pepecoineth community up to date ⌛️
🚨 @hyblockcapital Liquidation Levels ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 🚨 ⚠️ Repost to keep the @pepecoineth community up to date ⌛️
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Every Bitcoin cycle has taken longer to recover to its all-time high than it took to fall into the bear market. We're only ~100 days into this recovery. @cryptovizart walks through what the historical ratio implies. Watch now ⤵️ youtu.be/U-I_qW-3OzA
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The crypto derivatives market has undergone a massive structural transformation. Bitcoin once controlled over 90% of Open Interest. Today, altcoins dominate with 57.4%. Think about what this means: leverage, speculation, and liquidation risk are no longer concentrated primarily in Bitcoin. The next major wave of volatility may not start with Bitcoin. It could start with altcoins and spread across the entire market. This is exactly why we built Alphractal: to understand what is happening beneath the surface of the market.
Bitcoin once dominated the crypto derivatives market, accounting for over 90% of total Open Interest. That landscape has changed dramatically. Analyzing data from 30 of the largest crypto exchanges, altcoins now account for 57.4% of total Open Interest, while Bitcoin represents 42.6%, a difference of 14.8 percentage points. This structural shift shows how derivatives exposure has expanded beyond Bitcoin, making altcoins increasingly important in understanding market volatility, liquidity dynamics, and liquidation risk. Bitcoin alone no longer tells the full story of the crypto derivatives market. Alphractal.com
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GM frens 🫰
The constructive part is that there is room for normalization. With bitcoin:native still ~14% above a rising 200DMA, the gap can narrow through time, price, or both. That leaves room for a meaningful reset without requiring a change in the broader bullish structure.
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bitcoin:native: Price Trades Above Rising 200DMA, Below Overbought Zone Bitcoin is trading near $82.7K, around 14% above its rising 200DMA baseline near $72.5K, while remaining below the 1.5× overbought valuation band near $108.7K. A retest of — or even a temporary move below — a rising 200DMA can remain compatible with a broader bull-market structure and does not, by itself, imply a bearish regime shift. This differs from sustained trading below a falling 200DMA, which would indicate a materially weaker long-term trend condition. The 1.5× band is a valuation reference — not a price target. It marks elevated extension relative to the 200DMA: BTC can reverse before reaching it or remain above it during strong momentum phases. Key takeaway: A temporary move below a rising 200DMA matters less than persistent trading below it while the average flattens or turns lower.
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The constructive part is that there is room for normalization. With bitcoin:native still ~14% above a rising 200DMA, the gap can narrow through time, price, or both. That leaves room for a meaningful reset without requiring a change in the broader bullish structure.
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🚨 @hyblockcapital Liquidation Levels ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 🚨 ⚠️ Repost to keep the @pepecoineth community up to date ⌛️
🚨 Hyblock Liquidation Levels $PEPE 🚨 ⚠️ Repost to keep the @pepecoineth community up to date ⌛️
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GM frens 🫰
If bitcoin:native revisits the STH Realized Price and holds, I would read that as a constructive bull-market reset, not a failed reclaim. A controlled pullback that respects the recent-buyer cost basis would reinforce the repair structure rather than weaken it.
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bitcoin:native: STH Cost Basis Rises as Retest Remains Open In the September update, BTC had reclaimed the Short-Term Holder Realized Price. The open question was whether price would return to that level and hold it as support. That retest has not happened. The STH Realized Price has since risen to roughly $73.5K, while BTC is trading around $83K — about 13% above the recent-buyer cost basis. STH Supply in Profit has cooled to around 74%, down from the 85–97% readings seen after the rebound. Most short-term holder supply therefore remains in profit while BTC continues to trade above its cost basis. If price later returns toward $73.5K, that would be the support test. Holding that level would matter more than the fact that price has stayed above it so far. Key takeaway: The STH cost basis has risen to roughly $73.5K, while BTC remains about 13% above it and around 74% of short-term holder supply is still in profit. Whether $73.5K holds can only be tested if price returns to it.
bitcoin:native: STH Cost Basis Reclaimed, Retest Now Matters In the August update, STH Supply in Profit had recovered to 52%, but BTC was still trading near $64K — roughly 6% below the STH Realized Price around $68K. Cost-basis confirmation was still missing. That constraint has now flipped. On September 3, BTC traded near $81.3K versus an STH cost basis around $70.4K, while STH Supply in Profit reached about 97%. After the pullback toward $77K, BTC remains above the updated STH Realized Price near $70.9K, with short-term holder profitability still broad at around 85%. The reclaim is a constructive shift, but not full regime confirmation by itself. The next test is whether BTC can retest the STH Realized Price and hold it as support. Key takeaway: The August gap has closed: bitcoin:native is back above the recent-buyer cost basis, and STH profitability remains broad. Confirmation now depends on a successful retest and hold above the STH Realized Price, not on the reclaim alone.
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If bitcoin:native revisits the STH Realized Price and holds, I would read that as a constructive bull-market reset, not a failed reclaim. A controlled pullback that respects the recent-buyer cost basis would reinforce the repair structure rather than weaken it.
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ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933: 3-Month Liquidation Map Shows Long-Heavy Structure @Alphractal 3-month ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 liquidation map shows a strongly long-heavy setup: roughly $1.2B in long-liquidation exposure, or 83% of the map, versus about $241M on the short side. 1000PEPE is trading near $0.00453. The nearest short-liquidation clusters are concentrated around the $0.00470–$0.00484 area, while the larger upside level sits around $0.0054. The larger downside cluster sits around $0.0040–$0.0038, where the main nearby long-cascade risk is concentrated. If that area fails, deeper downside liquidity toward the $0.0032–$0.0030 area comes back into focus. Alphractal’s cascade view shows roughly $80.4M across the four largest downside clusters, versus about $24.4M across the four largest upside clusters. Key takeaway: The 3-month ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 liquidation structure is tactically two-sided, but the broader risk remains weighted toward long liquidations. Upside liquidity is visible relatively close to spot and again toward $0.0054, while the larger liquidation exposure remains concentrated below — leaving the setup vulnerable if the current move fails to hold.
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The bullish signal is not simply the move back above 1.0, but how the cohort got there. The sub-1.0 episodes were shallow and brief, and adjusted LTH MVRV has since recovered to ~1.35, with bitcoin:native now trading about 35% above the cohort’s realized-price basis. Within the broader repair framework, this is constructive: stress remained contained, aggregate profitability was restored, and a meaningful buffer has re-emerged above break-even.
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bitcoin:native: Adjusted LTH MVRV Exits Shallow Stress, Back in Profit In the April update, adjusted 6M–10Y LTH MVRV — a measure of aggregate profitability for the 6M–10Y holder cohort — was compressing above 1.0. A reading of 1.0 marks the cohort’s aggregate break-even level: above it, the cohort is in unrealized profit; below it, in unrealized loss. That test arrived. Between June and August, the metric fell below 1.0 on five occasions, reaching its 2026 low of roughly 0.94 on June 30 — around 6% below break-even. At that point, BTC traded near $58.5K versus the cohort’s realized-price benchmark of roughly $62K. The stress was real but limited in both depth and duration. The metric remained close to 1.0 rather than entering the deeper and more persistent underwater conditions seen during the 2019 and 2022–23 loss phases. By September 27, adjusted LTH MVRV had recovered to roughly 1.35. BTC traded near $84.5K against a cohort realized price of around $62.7K, placing spot approximately 35% above that basis. Key takeaway: The 6M–10Y cohort has moved out of shallow sub-1.0 stress and back into aggregate profit. This is a constructive reset for this holder group, not a deep or persistent loss phase.
$BTC: LTH Profit Compression Remains Above Stress Levels The adjusted long-term holder MVRV (6M–10Y) indicates that long-term holders remain in profit, despite ongoing compression. This metric reflects the degree of unrealized profit among long-term holders, serving as a key gauge of whether this cohort has entered stress conditions. In prior cycles, bottoming phases were accompanied by deeper compression, pushing this metric well below 1.0, typically into the 0.7–0.85 range. Currently, MVRV is declining but remains above historical stress levels.
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The bullish signal is not simply the move back above 1.0, but how the cohort got there. The sub-1.0 episodes were shallow and brief, and adjusted LTH MVRV has since recovered to ~1.35, with bitcoin:native now trading about 35% above the cohort’s realized-price basis. Within the broader repair framework, this is constructive: stress remained contained, aggregate profitability was restored, and a meaningful buffer has re-emerged above break-even.
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