Adler AM: Bitcoin Morning Brief

Bitcoin's 30-day LTH distribution fell from 310K to 240K BTC in a week. Long-term holder MVRV is 1.65. On-chain analysis for October 29.

Bitcoin short-term holder losses dominate exchange inflows as the 24h balance hits -18.6K BTC. On-chain analysis of STH stress on Oct 27, 2026.

Bitcoin profit cushion over the $76K short-term holder cost basis fell from 8.7% to 5.9% in a week. Plus the Young/Old Ratio crossover.

Bitcoin has left exchanges for a month, with net outflows at 1.5K BTC per day. Why outflows slowed and what neutral futures positioning means.

Short-term Bitcoin whales’ unrealized profit fell from a record $9.8B to $4.6B as 10.6K BTC hit exchanges on Oct 20. What it means for the market

Bitcoin is down 6% from its October high and trades 1.5% above $80.4K support. Futures sellers lead. Is this a correction or a downtrend?

Bitcoin short-term holder supply hit 4.08M BTC, the highest since mid-June, as new buyers enter. STH cost basis is $74.9K, profit cushion 10%.

Bitcoin Bollinger Band width fell to 4.9%, the tightest since mid-September. Breakout levels to watch: $86.0K above and $81.9K below.

Bitcoin long-term holder realized price is $48.6K, with BTC 72% above it. LTHs in profit since Jan 2023, but their cost basis is falling.

Fees are just 0.64% of Bitcoin miner revenue. At $0.05/kWh, mining 1 BTC costs $86.7K with an Antminer S19 vs $44.3K with an S21.