The Currency analytics
By Steven Anderson
Bitcoin's key indicators went bearish. CryptoQuant analyst Darkfrost dropped a warning on February 13 that pretty much every major on-chain metric for Bitcoin is flashing red…
The data comes from a heatmap tracking ten different network measurements, and it's not looking good for bulls.
The red signals got stronger when Bitcoin's price started falling, but some indicators already turned bearish before the drop hit.
Most other indicators flipped red after November 2025's price drop. Trader On-Chain Profit Margin held out the longest, staying positive through January's brief recovery before…
Short-term Bitcoin holders are selling at losses now. CryptoQuant analyst Maartunn highlighted this trend in another X post, showing that investors who bought within the last 155…
Bitcoin trades around $65,300 right now. That's down more than 2% over the past week.
CryptoQuant's data shows the Inter-Exchange Flow Pulse stayed red since the first half of 2025, and that's a big deal.
The Network Activity Index hasn't shown much bullish activity since leaving high levels in late 2024.
Maartunn's observations about short-term holders fit with what everyone else sees. These investors bought Bitcoin within 155 days and now they're selling at losses.
Bitcoin's current price of roughly $65,300 reflects cautious market sentiment. Traders and analysts keep watching these on-chain indicators, but the lack of bullish signals…
CryptoQuant CEO Ki Young Ju noted on February 13 that shifts in on-chain metrics can serve as early warning signs.
Market participants stay cautious while Bitcoin hovers around $65,300. The sustained red signals across key metrics suggest traders won't commit to bullish positions yet.
But there's more context here. Glassnode reported on February 12 that Bitcoin's on-chain activity shows declining new addresses.
Binance saw Bitcoin futures trading volume fall 20% month-over-month as of February 10. That decline in trading activity on one of the largest crypto exchanges highlights the…
JP Morgan analysts pointed out in a February 11 client note that Bitcoin's recent price movements came from macroeconomic factors rather than internal crypto market dynamics.