Crypto analytics platforms Santiment and CryptoQuant are flagging several on-chain signals that could point to more bullish action for both bitcoin and Ethereum. The main takeaways: ETH supply on exchanges keeps shrinking, long-term BTC holders are sitting on bigger gains, and even short-term traders are staying profitable for longer stretches.

Ethereum: Exchange Supply Keeps Dropping

Santiment reports there are now about 6.06 million ETH sitting on crypto exchanges. That’s a notable drop in liquid Ethereum supply across centralized platforms—standing out among current market metrics.

Bitcoin: Holder Strength on Display

According to CryptoQuant, long-term bitcoin holders are seeing increased profitability. On top of that, short-term BTC holders have been in profit for extended periods—another indicator analysts watch closely when gauging market momentum.

Analysts’ Take

Santiment and CryptoQuant see this combination of signals as hints of a potential shift in the market structure for both bitcoin and Ethereum. While these metrics don’t guarantee a rally, they do highlight the conditions where one could keep building.