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April 16, 2026 Bitcoin On-Chain Data Bulletin
$74,817.43 📈 +0.87% (24H)
BTC is trading just below $75,000. While spot-driven accumulation and ETF inflows are providing support, weakness in active addresses and the accumulation of leverage are weighing on the upside, resulting in a mixed bullish and bearish market.
Macro Highlights:
US March CPI was 3.3% year-on-year, with core CPI at 2.6%, highlighting rising energy prices as inflationary pressure. Furthermore, the US-Iran situation is characterized by a mix of ceasefire expectations and uncertainty surrounding the Strait of Hormuz. BTC is approaching $75,000, but remains volatile, susceptible to geopolitical risks and expectations of Fed interest rate cuts.
📋 Key Data Summary
Current Price: $74,817.43
Change from Previous Day: +0.87%
Exchange Net Flow (7-Day Total): -23.57K BTC
Hash Rate (7-Day SMA): 975.12 EH/s
Active Addresses (7DMA): 611,909
SOPR: 1.01
MVRV Ratio: 1.37
ETF Flow (Latest Daily): +$337.41M / Approx. +4.57K BTC
Data Update Time: 2026/04/16 10:26 UTC
*Because the update timing differs for each indicator, the latest available data from April 11th to April 16th, 2026 is used in combination.
📈 Detailed On-Chain Metrics
👥 ① Number of Active Addresses: 611,909
🔴 Bearish Trend Continues
Explanation: The price remains in a low range on a 7-day average basis. Despite the price rebound, the expansion of network participation is slow, making it difficult to say that there is a full return of individual investors.
⚡ ② Hash Rate: 975.12 EH/s
🟡 Neutral to Slightly Bullish
Explanation: The 7-day indicator remains at a high level. The miner base and network defense capabilities are maintained, and the network remains relatively healthy.
🏛️ ③ Exchange Net Flow (7-day total): -23.57K BTC
🟢 Bullish Signal
Explanation: A large net outflow has been recorded over the past 7 days. The accumulation trend of spot assets is dominant, and a strong outflow of -7,819 BTC in a single day was observed on April 13th. This will help to mitigate short-term selling pressure.
📊 ④ SOPR: 1.01
🟡 Turning Point
Explanation: It is in a small profit realization zone, slightly above 1.0. While not a panic sell, there isn’t a strong profit-taking trend either; the direction is still limited.
📉 ⑤ MVRV Ratio: 1.37
🟡 Neutral to Slightly Undervalued
Explanation: It’s far from overheated territory and not a clear bubble. It’s at a level that’s easy to categorize as being in the appropriate range during a recovery after the initial pessimism has subsided.
🌊 ⑥ ETF Flow: +$337.41M
🟢 Bullish in the Short Term
Explanation: The latest daily figures show net inflows into US spot Bitcoin ETFs. The improvement in institutional investor flows is a supporting factor, but daily fluctuations are large, and confirmation of continuity is necessary.
🎯 Overall Analysis
Tight supply and demand driven by spot trading, ETF inflows, and a decline in exchange balances are strong supporting factors. On the other hand, the slump in active addresses and the rapid increase in leverage (Open Interest +17% in 14 days, Estimated Leverage Ratio +11%) warrant caution. While this could be interpreted as energy compression before a breakout, it also carries the risk of sharp fluctuations (a surge in volatility).
Short-term focus: A breakout above $75,000 and consolidation of that level, along with maintaining a SOPR above 1.0, are key.
Medium-term outlook: Continued ETF inflows and a reduction in macroeconomic uncertainty could improve market sentiment. Conversely, a resurgence of geopolitical risks or a renewed acceleration of inflation would be factors that limit further gains.
⚠️ 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.
