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🔍 #Bitcoin On-Chain Insights: Tracking Smart Money

Key Metrics to Watch

1. Highly Active Addresses (≥100 TX in 30 days)

Excludes exchanges/miners → pure "organic" activity.

Rising activity = stronger network utilization.

2. MVRV + PnL Index

Reveals if $BTC is overbought relative to its "realized" value.

PnL Index >1 = investors are in profit (correction risk).

3. Bull-Bear Indicator

- Combines multiple on-chain signals to identify market phases.

Current Action Points

If Highly Active Addresses grow while MVRV stays neutral → potential uptrend.

Spiking PnL Index → whales may be taking profits.

👇 Which on-chain indicators do you rely on?

#BTC Price Analysis# #BTC