Currently 79% of all #Bitcoin supply is in a state of profit.

It has been steeply increasing since its 45% low in March after Black Thursday.

Historically, levels of 90% and higher have clearly marked pronounced BTC bull markets.

View live chart | @glassnode

The number of #USDT transfers to exchanges has skyrocketed – ATH according to our data.

Given that the inflow exchange volume did not significantly increase, this implies a large amount of small-sized Tether deposits.

Main destination is #Huobi.

View live chart | @glassnode

#Bitcoin inflows to major exchanges spiked during BTC's recent sharp increase to $10,000, clearly showing investors' reaction to the sudden price surge.

Live data | @glassnode

#Miners play an essential role in the #Bitcoin ecosystem.

Understanding their behaviour gives investors powerful insight into a driving force of the market.

Are they hodling or selling their rewards?

BTC flow from miners to exchanges is now live.

Live chart | #ProductRelease

#Bitcoin's price increase has pushed it up into the bullish regime for the first time in 3 months, marking a return to pre–crash levels.

However, declining on–chain fundamentals leave BTC in an unstable & potentially unsustainable position.

Read more | #TheWeekOnChain

The Market Compass: Monthly (May 2020) is now available to Advanced & Professional Studio users - and to celebrate the launch of our new Telegram channel, subscribers can also access this month’s issue.

The Market Compass is a monthly publication which provides a thorough overview of Bitcoin's development over the previous month, based on Glassnode's market index, the GNI.

Read about Bitcoin's fundamentals for May below:

Get the report | #TheMarketCompass