Bitcoin: On-Chain Data Signals Early Bull Market
André Dragosch states Bitcoin’s on-chain structure points to an early-stage bull market, with buyers accumulating and long-term holders refusing to sell ahead of the 4 November webinar with Matt Hougan and Bradley Duke.
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Bitcoin on-chain metrics continue to reflect an early-stage bull market according to André Dragosch, even after recent months of consolidation. Dragosch will present supporting data during the Bitwise monthly webinar on 04/11/26 at 4 pm CET alongside Matt Hougan and Bradley Duke, focusing on persistent buyer accumulation, dormant long-term supply, and macro patterns that favor higher prices despite bond-market stress and midterm uncertainty.
The session titled “Bitcoin’s Final Macro Hurdle: Bond Stress, Midterms and the Waiting Game” will also examine Bloomberg data and statistical models to quantify dollar sensitivity and fair-value ranges.
At $80999.99, BTC sits just below the EMA50 at $81096.51 while the EMA200 at $81725.92 caps the broader structure; the MACD golden cross at -8.31 supplies bullish momentum that could drive a test of the upper Bollinger Band at $81436.53 before any retracement toward the lower band support at $79462.82, with RSI at 53.26 leaving room for continuation inside the bands.
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.