Alongside higher prices, comes an increased motivation for holders and miners to take exit liquidity, especially after the prolonged and painful bear of 2022.

Identifying cycle changes is no easy feat, and there remains no single silver bullet to accomplish this task. In this report, we explore a suite of ten indicators which provide a useful toolbox for navigating these later stages of Bitcoin bear markets.

The digital asset market has opened the new year...by staying asleep. Realized volatility for the two major assets has fallen to extreme lows.

On-chain data shows miners have been capitulating en masse throughout the year. However, this doesn't mean that they have been selling all of their BTC.

2022 has been one of the most chaotic, volatile, and financially brutal years, not only for the digital asset industry, but also for wider financial markets.

We introduce an array of proof-of-reserve metrics to easily monitor the balances of exchanges' on-chain reserves held in self-reported addresses.