📊 Bitcoin On-Chain Data Bulletin
Date: April 10, 2026 (at time of acquisition)
$71,832.00
📈 +1.08% (24H)
Macro Highlights: Geopolitical risks temporarily receded following reports of a two-week ceasefire agreement between the US and Iran, causing BTC to rebound from around $67,800 to the $71,000 range. However, uncertainty remains regarding the sustainability of the ceasefire, and the oil market continues to be volatile. The US CPI (Consumer Price Index), scheduled to be released today, is being watched as the next major catalyst.
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📋 Key Data Summary
Current Price: $71,832.00
Change from Previous Day: +1.08%
Exchange Net Flow: -750 BTC
Hash Rate (7-day MA): 954.29 EH/s
Active Addresses (7DMA Estimate): Approx. 660,000
SOPR: Approx. 1.00
MVRV Ratio: 1.3329
ETF Flow (Latest Daily): -$159.10M / -2.31K BTC
Data Update Time: 2026/04/10 07:00 UTC
📈 Detailed Onchain Metrics
👥 Number of Active Addresses: Approx. 660,000
🔴 Bearish Trend Continues
The 7-day average remains at a low level compared to the past year. Participation from short-term speculators remains sluggish, and the recovery of broad-based individual investor network participation is still limited. Current supply and demand appears to be primarily driven by institutional investors and long-term holders.
⚡ Hash Rate: 954.29 EH/s
🟡 Neutral to Slightly Bullish
Despite recent daily fluctuations, the 7-day moving average still maintains a high level of around 950 EH/s. The network’s defensive capabilities are very strong, and the miner infrastructure remains robust.
🏛️ Exchange Net Flow: -750 BTC
🟢 Bullish Signal
Net outflow from the exchange as a whole has been observed. This suggests that investors are leaning towards medium- to long-term holding (HODL) in self-managed wallets rather than short-term selling, which is positively viewed as a factor mitigating future selling pressure.
📊 SOPR: Approximately 1.00
🟡 Turning Point
While not a panic market driven solely by loss selling, it’s not clearly leaning towards a profit-taking dominance either. The 1.0 level is a battle line between bullish and bearish supply and demand; a breakout above this level and subsequent consolidation would be a strong indicator of improved market sentiment.
📈 MVRV Ratio: 1.3329
🟡 Neutral to Slightly Undervalued
Far from historically overheated levels (above 3.7, etc.), the market doesn’t appear excessively overheated. On the other hand, it’s not an absolute bottom either; from a medium- to long-term perspective, it can be evaluated as being in an “appropriate range on the way to recovery from the bottom.”
🌊 ETF Flow: -$159.10M
🟡 Short-Term Neutral, Underlying Resilient
After a large inflow on April 6th (+$471.3M), the market has recently fallen back due to profit-taking and waiting for CPI events. However, the structure in which physical ETFs continuously influence the supply and demand of physical BTC remains unchanged, and daily fluctuations alone do not negate medium- to long-term demand.
🎯 Comprehensive Analysis
🌍 Market Environment and Macroeconomic Factors
The biggest focus right now is the temporary receding of geopolitical risks following reports of a ceasefire agreement between the US and Iran. This has led to a risk-on movement in the market, and BTC has rebounded. However, the vulnerability of the ceasefire and the instability of the crude oil market remain. Market attention has already shifted to the US CPI (Consumer Price Index) scheduled to be released today, and the outlook for an interest rate cut by the Fed in response to inflation trends is expected to determine the next major trend.
🔮 Future Outlook and Key Points
Bullish Factors: Continued BTC outflows from exchanges, strong and persistently high hashrate, and the absence of overheating in the MVRV indicator.
Bearish/cautious factors: A slump in active addresses indicating decreased interest from individual investors, a short-term pullback in ETF inflows, and the fact that SOPR has not yet shown a clear bullish reversal (establishing a breakout above 1.0).
In the short term, the focus will be on maintaining the $71,000 line and absorbing selling pressure from rallies by establishing SOPR above 1.0. In the medium term, a re-acceleration of institutional investor ETF flows following the dispelling of uncertainty after macroeconomic events will be key to breaking through the resistance above $73,000.
⚠️ Disclaimer: This report is for informational purposes only, based on publicly available information, and does not constitute a recommendation to buy or sell financial products. Investing in cryptocurrencies carries high risk. Investment decisions should be made at your own risk.
