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Bitcoin has experienced a notable rebound over the past week, following a brief period of downside pressure earlier this month. After dropping below $80,000 amid the tariff turmoil, the asset has regained its losses and is now trading above $85,000.
This recovery marks a nearly 10% surge over the last seven days and comes as investors reassess macroeconomic cues and on-chain signals.
Bitcoin On-Chain Trends Indicate Continued Uptrend
The market’s resilience appears to be underpinned by several important metrics. According to a recent post by CryptoQuant analyst BorisVest, various on-chain indicators continue to suggest that Bitcoin remains undervalued in the current cycle.
The analysis points to declining exchange reserves, a stablecoin supply ratio that suggests available liquidity for new purchases, and normalized funding rates that may indicate a reduced risk of overheated market conditions.
One of the striking observations in BorisVest’s analysis is the ongoing reduction in exchange-held Bitcoin reserves, which have now returned to levels not seen since 2018.
The total number of BTC on exchanges stands at around 2.43 million, significantly down from the 3.4 million observed during the 2021 bull market peak.
This reduction implies a shift toward long-term holding behavior among investors, limiting available supply for immediate sale and potentially contributing to upward price pressure.
In addition, the Stablecoin Supply Ratio (SSR) currently stands at 14.3. The SSR is a metric used to gauge the purchasing power available in the market via stablecoins.
A lower SSR indicates higher purchasing power and potential for further buying activity. Since the SSR has not reached the elevated levels seen during the last cycle’s peak, the data implies that capital remains on the sidelines and could be deployed as prices stabilize or rise.
Normalized Funding Rates and Bullish Implications
Another significant factor highlighted in the report is the normalization of funding rates. During Bitcoin’s recent all-time highs, funding rates spiked as long positions accumulated rapidly, suggesting an overheated market and increased short-term risk.
However, since the correction, these rates have returned to neutral territory, now hovering between 0.00% and 0.01%. This return to balance is interpreted as a reset of market sentiment, reducing the likelihood of immediate downside caused by over-leveraged longs.
The report concludes that the combination of declining exchange reserves, a stable SSR, and subdued funding rates supports a constructive outlook for Bitcoin in the near term.
While broader macroeconomic factors, such as the global tariff environment and monetary policy, will continue to influence sentiment, current on-chain dynamics suggest that investor confidence remains intact.
The focus now shifts to whether these conditions will translate into sustained upward momentum or if a period of consolidation will take hold before the next major move.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
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