Bitcoin On-Chain Data Update – December 14, 2025
📊 [Breaking News] BTC On-Chain
Price: $89,342 📊 (Weak -0.8%, Continues Bottoming) 🔻
Trading Volume: $14.86B (Last 24h) 💰
Active Addresses: 114,096 (Normalizing) 📉
Hash Rate: 1.02 ZH/s (Temporary -7.83%) ⚠️
→ Price, hash rate, and trading volume are all in a correction phase, a typical “bottoming period.” Long-term holders are remaining on the sidelines, limiting supply pressure.
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📋 Key Data Summary
Item Value
Current Price $90,047
24-Hour Trading Volume 267,476 BTC ($24.09B)
Market Cap $1,797.04B
Data Updated December 12, 2025, 18:20 UTC
📈 Detailed On-Chain Metrics
👥 Active Addresses
161,920 (Significant Increase)
The number of unique addresses participating in transactions over the past 24 hours. This figure jumped from the previous 140,000 to 161,920. The explosive increase in network users during the price correction indicates strong demand for bargain hunting and active use of the network. Transaction volume also reached a high of 441,507. Market interest is extremely high, and the ecosystem is expanding despite the short-term price decline.
🟢 Rapid Increase in Participants: Extremely Bullish Signal
💰 Transaction Volume
$14.86B
Total transaction volume over 24 hours (166,348 BTC). Trading volume fell sharply from the previous 267,476 BTC, down approximately 38%. This reflects the quiet trading environment and risk aversion over the weekend. Larger 100 transactions remained prominent at 225,565 BTC (135.60% of total volume), with large-scale activity dominating the market. The decline in volume indicates that market participants are adopting a wait-and-see approach, assessing the next direction. This is a typical signal of a consolidation or bottoming phase.
🟡 Contraction/Wait-and-See Phase
⛏️ Miner Hash Rate
1.02 ZH/s (-7.83%)
Network security and miner participation. The rate fell sharply by -7.83% over 24 hours to 1.02 ZH/s (1,020 EH/s). This represents a temporary retreat from the previous peak (1.14 ZH/s). Mining rewards (0.0362 USD/TH/s) have slightly declined but remain within the break-even range. The next difficulty adjustment is approximately 10 days away. This temporary drop in hash rate is likely due to some miners withdrawing or undergoing equipment maintenance due to declining profitability following the price drop. Historically, the price and hash rate have often recovered after such adjustments.
🟡 Temporary Adjustment/Waiting for Recovery
📊 SOPR (Spent Output Profit Ratio)
Estimated 0.97 (LTH: 1.95)
Profit ratio at time of sale. At 0.97, it remains below the break-even point (1.0), and short-term holders are continuing to “cut losses and surrender.” This is a typical “bottom formation process,” and the exit of bears is creating a healthy foundation for the next upswing. The SOPR for long-term holders (LTH) has slightly declined to 1.95, but remains in the high-profit range. Long-term holders remain undeterred and are absorbing short-term selling pressure. The SOPR recovering to 1.0 signals confirmation of a bottom.
🟡 Continuing Stop-Losses/Bottom Formation Process
📈 MVRV Ratio
Estimated 1.54
The market value/realized value ratio has fallen slightly to an estimated 1.54, approaching its 2025 low. This represents a historically extremely undervalued “bargain sale” zone, and in past cycles, significant uptrends have begun from this level. Far from the overheated zone of 3.0-4.0, the current price of around $89,000 represents a great entry point for medium- to long-term investors. The decline has made valuations even more attractive, further expanding the upside potential.
🟢 Extremely Undervalued/Bargain Zone
🏦 HODL Waves
1+ Years: ~71%
Supply Distribution by Holding Period. Coins held for more than a year account for approximately 71% of total supply, maintaining their ironclad structure. Even as prices have fallen to the $89,000s, long-term holders remain unfazed. The Days Destroyed (0.2018) value has fallen significantly from the previous level of 0.8807, effectively halting the movement of older coins (long-time selling). This is evidence that long-term holders have deemed the current price range a “no-sell” level. Selling pressure is entirely limited to short-term investors, making a supply shock highly likely.
🟢 Ironclad Holding Structure: Long-time Holders Staying Standby
⚖️ RHODL Ratio
Estimated 0.0055
The short-term/long-term holding ratio has fallen further to an estimated 0.0055, continuing to reach historic lows. This represents the ultimate in long-term holder dominance, a range that has served as the “absolute bottom” and “launch pad for bull markets” in past cycles. With short-term speculators now out of the market and only true long-term investors remaining, the “healthiest market structure” is taking shape. The current correction is very likely the final preparation for the next big move.
🟢 Historic Lows and Bull Market Launch Pad
🎯 Comprehensive Analysis
Market Situation:
Prices weakened by approximately 0.8% to $89,342, continuing to consolidate amid a quiet weekend trading environment. Active addresses normalized to 114,096, hash rate temporarily adjusted to 1.02 ZH/s, and trading volume shrunk to $14.86B. All indicators point to a period of consolidation and recharge. Meanwhile, Days Destroyed (0.2018) fell significantly from the previous reading, clearly indicating that long-term holders are completely on the sidelines. MVRV of 1.54 is the lowest level in 2025, making it extremely undervalued. RHODL of 0.0055 hit a historic low, providing conclusive evidence of a bottom.
Key Points:
① Price, hash rate, and trading volume are all in a correction phase, a typical “bottom consolidation period.”
② Days Destroyed at 0.2018 (a sharp drop from the previous 0.8807), confirming that long-term holders are completely on the sidelines.
③ SOPR remains at 0.97, with short-term investors cutting losses and selling to surrender, furthering the bottom formation process.
④ MVRV at 1.54, the lowest level since 2025, has entered the extremely undervalued “bargain zone.”
⑤ RHODL at 0.0055 (a new historic low), confirming a market structure similar to the “bottom/launch pad” of the previous cycle.
⑥ Large-volume trading ratio at 135.60%, an abnormal value, indicates large-scale institutional investor turnover is underway.
Outlook:
Currently, we are seeing a typical “bottom formation/final stage” situation. The continuation of the SOPR at 0.97 indicates that short-term investors are cutting their losses, and once these bears have fully exited, the foundation for a reversal will be complete. The Days Destroyed at 0.2018 (a significant decline) and the RHODL at 0.0055 (a historic low) indicate that long-term holders are firmly convinced they will not sell at the current price. The MVRV of 1.54 closely resembles the “starting point” of a major rally in the past cycle. This correction, occurring amid a quiet weekend environment, is likely a positioning adjustment ahead of important macroeconomic events (such as the FOMC) next week or later. The large-volume ratio of 135.60% suggests that institutional investors may be conducting large-scale behind-the-scenes buying. The $89,000-$90,000 area will act as strong support, and a rebound from this area is expected to lead to a target of $95,000-$100,000. In the medium to long term, the current undervalued valuation and strong on-chain foundations provide a solid foundation for a major market boom in late 2025-2026.
Data Updated: December 14, 2025, 14:10 UTC | 24-Hour Price Fluctuation: -0.8% | Market Cap: $1,783.05B | Difficulty Adjustment: Approximately 10 days in the future
⚠️ Investment decisions are at your own risk. This data is for informational purposes only. This report does not constitute investment advice.
