Bitcoin's on-chain metrics signal a positive outlook despite recent price volatility caused by events like the public feud between President Trump and Elon Musk.
Verified On-Chain Analyst Carmelo Alemán's report highlights key metrics showing strength in Bitcoin's fundamentals and a bullish narrative in the market.
Important on-chain metrics include a drop in exchange reserves, a surge in Realized Capitalization to an all-time high, and consistent negative netflows confirming accumulation mode.
Alemán emphasizes positive trends in UTXO Value Bands, reflecting diverse investor holdings, rising conviction, and decreasing selling pressure across all value bands, indicating a bullish on-chain structure for Bitcoin.