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Coinbase Institutional stated that ETH rose in the third quarter 71%, but the percentage of supply in profit remains below the historical caution zone.
BlockBeats reported that CryptoQuant analyst Crypto Dan said the shares of supply in loss and in profit have diverged again, and the market is close to completing its transition to an uptrend cycle.
Analyst Axel Adler Jr. said that Bitcoin long-term holders have reduced their holdings for consecutive 7 weeks, but the price continues to rise, with demand temporarily absorbing the additional supply. He cautioned that if selling expands and the price stops rising or turns downward, the market’s absorption capacity may weaken.
CryptoQuant analyst Darkfost says the exchange BTC monthly average inflow-to-outflow ratio fell to approximately 0.97, indicating that outflows have recently dominated.
CryptoQuant analyst Zizcrypto said that 6 months to 10 years of BTC long-term holders MVRV had risen back to approximately 1.35, above the break-even line, returning to an overall state of unrealized profit.
PANews cited analyst Darkfost as saying that BTC Bitcoin short-term holders’MVRV metric rose to 1.15, reaching a 2025 year November high, with short-term holders showing an average unrealized profit of approximately 15%。
On-chain analyst Darkfost said that Bitcoin's short-term holder cost basis has broken above the active long-term holder cost basis, indicating that cycle momentum may have shifted.