indicator

According to Bitcoin Magazine, Fidelity Digital Assets reports that the unrealized profit metric for Bitcoin holders jumped from 0.09 to 0.36 last quarter."Historically, when Bitcoin's NUPL (Net Unrealized Profit and Loss) metric is around 0.36 (±0.05), the median return rate for the following year often reaches 93%."

The credit risk indicators of Meta Platforms have soared to an all-time high, and bond prices have fallen. The company plans to increase capital expenditures, raising market concerns about the rising debt for AI infrastructure.The five-year credit default swap prices rose by 8.9 basis points, reaching approximately 119.3 basis points per year. Meta stated it will invest about $825 billion in AI-related leases and contracts.

Cryptocurrency market analyst CW stated that despite the recent decline in Bitcoin prices, demand-side indicators still show a positive trend. Futures demand has slightly retreated compared to the previous day, but the negative value of spot demand has narrowed, keeping overall demand in a relatively positive range.The spot demand, which had previously remained in negative territory, is approaching a positive value. Once spot demand turns positive, Bitcoin will experience strong upward momentum.

Cryptocurrency analyst Darkfost stated that the Bitcoin Bull Score Index is currently still in a clearly bullish zone, with a current score of 80/100, and multiple indicators continue to support BTC's upward momentum. Darkfost pointed out that the only relatively lagging factor at the moment is spot demand.As observed earlier, the market's spot trading volume remains low, so there has not yet been a significant spot buying demand at this stage. He believes that spot demand is the missing key factor in the current BTC market trend, and this aspect is often the last to form.

Binance Co-CEO Richard Teng posted on X, stating: The macro environment still faces challenges, with U.S. yields remaining high and continuing to pressure risk assets; however, there are signs of improvement in investor demand.Richard Teng also mentioned: The spot Bitcoin ETF attracted a net inflow of $999 million, and technical indicators are beginning to show early signs of recovery.

Analyst Darkfost pointed out that the MVRV ratio (Market Value to Realized Value ratio) of short-term holders (STH) of Bitcoin has risen to its highest level since November 2025. This increase was driven by the price breaking through the short-term holder cost benchmark of approximately $73,100, significantly enhancing market momentum between August and September.The current MVRV ratio is 1.15, indicating that short-term holders are, on average, in a 15% profit state, and their holding market value has exceeded the realized value. This level is worth close attention, as it may prompt short-term holders to take action, especially to realize profits.

CryptoQuant analyst Axel Adler Jr. stated that the price of Bitcoin is currently around $83,000, with the outflow rate of Bitcoin from exchanges reaching its fastest level since October 2025.On-chain data shows that as of September 27, the average daily net outflow from exchanges over the past 7 days has reached 16,100 Bitcoins, reflecting a contraction in the supply of chips on exchanges.

CryptoQuant analyst Axel Adler Jr. stated that the 30-day moving average of the adjusted MVRV crossed above its 365-day moving average on August 20, indicating that Bitcoin entered an early bull market phase, with a price at that time of $71,255. This phase lasted for 31 days, during which Bitcoin rose by 13%.

The Oxford Economic Research Institute stated that its U.S. business cycle indicator has fallen into recession territory, as rising energy prices squeeze household incomes and a slowdown in immigration weakens job growth.However, factors such as productivity growth, wealth effects, and AI investment continue to support the economy, showing no typical signs of recession.

U.S. Treasury bonds continued to decline after the strong S&P Global U.S. PMI indicator was released.

CryptoQuant analyst Axel Adler Jr. stated that the Bitcoin 30-day compression indicator has risen to an extreme range of 93.9%, marking the fourth occurrence of a similar situation since the current bear market phase.Over the past 20 days, the Bitcoin price has continuously tested the annual moving average line but has failed to establish a solid position, indicating that volatility compression is intensifying near key resistance levels, and a directional choice may be faced in the short term.

According to the latest market analysis released by CoinGecko, based on order book data from August 25 to September 7, 2026, Gate ranks among the top platforms in the mainstream spot TOP30 trading pairs Top-of-Book (L1) depth share, and holds the first position in several mainstream assets.Among the 30 trading pairs tracked, Gate maintains a lead in 7, including BTC (27.3%), ETH (37.5%), XRP (39.2%), BNB (40.4%), DOGE (35.6%), NEAR (42.19%), and USD1 (38.07%). Under the 1% depth metric, Gate ranks first in 15 of the 30 trading pairs; in terms of coverage, Gate ranks in the top two for 28 trading pairs, demonstrating the broadest liquidity coverage.From a liquidity metric closer to market prices, Gate also shows strong order acceptance capability. The spot L1 depth for BTC, ETH, XRP, and DOGE remained leading during the observation period; in the contract market, Gate's BTC perpetual and ETH perpetual L1 depth maintained a leading position throughout the observation period, with SOL and DOGE perpetual contracts also ranking high.In terms of tokenized assets, Gate's SKHYNIX perpetual contract L1 depth ranked first throughout the observation period and significantly ahead. CoinGecko points out that compared to trading volume, order book depth better reflects actual trading execution capability and potential slippage. As market participants' attention to trading execution quality continues to rise, Gate continues to strengthen liquidity construction in both the spot and contract markets, maintaining strong market depth in core assets such as BTC, ETH, DOGE, and SOL, providing ample liquidity support for trades of various sizes.

CryptoQuant analyst Darkfost stated that the recent rise in Bitcoin has pushed investor sentiment to its strongest level since March 2024. The market sentiment indicator he tracks once reached above 89/100, entering the "extreme greed" zone.This indicator combines several data points, including the Fear and Greed Index, with a range from -100 to +100, corresponding to extreme fear and extreme greed, respectively. Darkfost pointed out that when market sentiment is extremely optimistic or pessimistic, it often signals a potential turning point in trends.Currently, as the previous market frenzy gradually fades, the sentiment indicator is returning to more normal levels, while Bitcoin is still struggling to maintain its current price range.

CoinGecko stated in its latest RWA report that the pre-market for synthetic IPOs has begun to serve as an effective valuation indicator for traditional IPOs. On-chain perpetual contracts can provide continuous price discovery and market sentiment anchors for popular unlisted companies before the official opening of exchanges.The report uses SpaceX and Changxin Storage (CXMT) as examples, noting that before SpaceX's listing, the prices of perpetual contracts across platforms fluctuated between $158 and $170, gradually converging to around $157.40; when its first transaction price on Nasdaq landed at $150.05, the deviation was about 4.9%. The deviation between the perpetual contract price before CXMT's listing and the actual opening price was also about 4.6%.CoinGecko believes that in the absence of real spot stocks as immediate arbitrage anchors, traders will still form relatively concentrated quotes around valuation, listing popularity, and future liquidity. On-chain Pre-IPO perpetual contracts will thus become an important reference price before the traditional order book opens, providing global investors with a channel to express long and short expectations 24 hours a day.

CryptoQuant analyst Zizcrypto stated that the Stablecoin Supply Ratio Oscillator (SSR Oscillator) 90-day reading quickly rose to the "strong stablecoin buying demand" zone, reaching 3.74 on August 21, close to the peak of about 4 expected in November 2024. Since then, the indicator has started to decline, while BTC is currently trading around $77,000.The rapid rebound of the stablecoin demand indicator coincided with a strong liquidity pulse that occurred earlier in the market. However, what is more concerning now is not the short-term spike itself, but whether this demand signal can be sustained. If the 90-day SSR Oscillator continues to decline and falls back below the "high" zone, the confirmation strength of this indicator regarding the sustained increase in stablecoin buying demand will weaken. Currently, this change appears more like a liquidity pulse rather than a formed persistent demand expansion cycle.The demand signals from the stablecoin side have indeed strengthened significantly recently, but the 90-day oscillation indicator has already started to cool down from its peak of 3.74. If it cannot maintain itself in the "high" zone, then whether this liquidity improvement can evolve into more lasting demand growth remains in question.

According to CoinDesk, the "credit pulse" indicator, which measures the speed of new credit in China relative to GDP changes, is flashing red. The Bloomberg China Credit Pulse Index recently reported 20.84 points, the lowest level since 2008. This indicator was proposed by economist Michael Biggs in 2008 and is considered related to the global manufacturing cycle, leading S&P 500 returns by about 12 months.Albert Edwards, a strategist at Société Générale, warned that ignoring China's recent monetary tightening could become "the biggest investment mistake of the decade." Despite the weakening indicators, Bitcoin surged 25% in August and briefly broke through $80,000, mainly driven by inflows from U.S. spot ETFs, short covering, and a catch-up rally of previously lagging assets compared to the stock market.Looking ahead, there are two scenarios: one is that Bitcoin continues to rise, as current crypto trading is primarily driven by U.S. institutional funds, reducing sensitivity to signals from China's credit conditions; the other is that if U.S. stocks decline as Edwards predicts, risk aversion may spill over into Bitcoin. Which scenario will materialize remains to be seen.

The "Realized Cap Impulse" indicator for Bitcoin has recently ended a continuous 93-day negative state and has turned positive for the first time, marking the longest reversal signal after a capital contraction cycle since the bear market of 2022.This indicator measures the momentum of changes in the realized market capitalization by tracking the changes in realized cap, combined with factors of Bitcoin supply and price, to assess whether the flow of tokens with actual economic significance in the market is driving capital base expansion. The positive shift in the indicator does not merely reflect a price increase but indicates that the flow of funds within the Bitcoin network is changing.Data shows that the indicator broke above the zero axis on August 20 when the BTC price was around $73,000 and has maintained positive values for 8 consecutive days. Currently, the BTC price has risen to about $78,900, an increase of approximately 8% during this period.As of the latest, the indicator reading is 0.198, below the peak of 0.226 reached on August 26. Historical data indicates that similar signals at the end of bear markets have been accompanied by significant rebounds in Bitcoin: after the indicator turned positive in September 2015, Bitcoin rose about 160% within a year; after March 2019, it increased about 173% in 90 days; and after January 2023, it rose about 45% in 90 days, with a yearly increase of 104%.However, the realized cap momentum indicator is not an absolute signal of a cycle bottom. Similar positive shifts occurred in early 2018 and 2022, but the market did not immediately enter a sustained upward phase afterward. Analysts believe that the indicator's continued positive value, confirmed by price trends, is more valuable than a single-day breakthrough above the zero axis.

The one-stop AI infrastructure platform B.AI has set new operational data records: yesterday's single-day computing power throughput exceeded 456.94 billion tokens, with 7,913 new registered users and 7,402 API users, all three metrics breaking historical records.This achievement fully validates the exceptional stability of the B.AI platform architecture under ultra-high concurrency and heavy load, and demonstrates that its inclusive computing vision is accelerating the attraction of global developers to access production-level AI agents and automated workflows at extremely low costs. B.AI will continue to optimize its one-stop AGI infrastructure, lower the threshold for AI applications, and drive cutting-edge intelligence efficiently into real productivity.