#Bitcoin rallied last week, breaking out of an accumulation range where 10.3% of $BTC supply last moved.
In the mining industry, the difficulty ribbon is about to signal positive recovery, as miner revenues reach $40M/day.
Read more in The Week Onchain
In the mining industry, the difficulty ribbon is about to signal positive recovery, as miner revenues reach $40M/day.
Read more in The Week Onchain
The Week Onchain Video Report #40 is live!
This week we analyse the changes in #Bitcoin profitability for holders and what this tells us about recent $BTC accumulation
We also analyse the mining recovery and positive flip of the Difficulty Ribbon metric
Live Dashboard
Video Report
This week we analyse the changes in #Bitcoin profitability for holders and what this tells us about recent $BTC accumulation
We also analyse the mining recovery and positive flip of the Difficulty Ribbon metric
Live Dashboard
Video Report
#Bitcoin Entities in Profit has risen to 94.3%.
Over 16.2% of all on-chain entities have returned to profit since the Sept lows.
The last time this many network entities were in profit was before the sell-off in May.
Live Chart
Over 16.2% of all on-chain entities have returned to profit since the Sept lows.
The last time this many network entities were in profit was before the sell-off in May.
Live Chart
#Bitcoin Long-Term Holders are those who have the lowest time preference, and the longest time horizon.
In our latest research piece by TXMC, we present a deep dive analysis into the psychology, and market fractals for #Bitcoin's strongest hands.
Read our analysis on #Bitcoin Long-Term Holders here
In our latest research piece by TXMC, we present a deep dive analysis into the psychology, and market fractals for #Bitcoin's strongest hands.
Read our analysis on #Bitcoin Long-Term Holders here
#Bitcoin on-chain fundamentals continue to paint a bullish picture, with Long-Term Holder supply hitting ATH
Leverage has also crept back into derivatives, with futures premiums, open interest and funding rates on the rise
Read more in The Week On-chain
Leverage has also crept back into derivatives, with futures premiums, open interest and funding rates on the rise
Read more in The Week On-chain
The Week Onchain Video Analysis Week #41 is live!
We analyse a broad range of topics across the market
- Elevated on-chain activity
- Growth in Long-Term Holder Supply
- Accumulation, spending and HODLing behaviour
- Rising leverage in derivative markets
We analyse a broad range of topics across the market
- Elevated on-chain activity
- Growth in Long-Term Holder Supply
- Accumulation, spending and HODLing behaviour
- Rising leverage in derivative markets
#Bitcoin Long-Term Holders Supply is currently increasing at between 13x and 15x $BTC issuance.
In other words, LTHs are stacking sats 13x faster than fresh coins are being minted by miners.
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Video Report
In other words, LTHs are stacking sats 13x faster than fresh coins are being minted by miners.
Read Analysis
Video Report
#Bitcoin on-chain activity has been on a consistent grind higher through Aug-Oct.
Many activity metrics are up ~24% since the $29k low set in late July.
Active Addresses +179k/day
Active Entities +51k/day
Transaction Counts +43k/day
Live Chart
Many activity metrics are up ~24% since the $29k low set in late July.
Active Addresses +179k/day
Active Entities +51k/day
Transaction Counts +43k/day
Live Chart
#Bitcoin balances on exchanges has plateaued throughout October.
Total exchange balance in those we track is at around 2.45M $BTC, which is equivalent to ~Aug 2018 levels
From the 3.11M $BTC ATH in Mar 2020, a total of 657k $BTC have flowed out, equal to 21% of the ATH balance.
Live Chart
Total exchange balance in those we track is at around 2.45M $BTC, which is equivalent to ~Aug 2018 levels
From the 3.11M $BTC ATH in Mar 2020, a total of 657k $BTC have flowed out, equal to 21% of the ATH balance.
Live Chart
We can see this in the Exchange net position change metric which has been in a net outflow regime since March 2020.
May-July was the primary period of net inflows, however this has been fully reversed.
Exchanges are currently seeing modest outflows of around 20k $BTC per month.
Live Chart
May-July was the primary period of net inflows, however this has been fully reversed.
Exchanges are currently seeing modest outflows of around 20k $BTC per month.
Live Chart
#Bitcoin has broken above $60k and is consolidating just below the all-time-high.
We analyse whether Long-Term Holders are spending or HODLing through the rally, and whether risk is growing in options and futures markets.
Read more in The Week On-chain
We analyse whether Long-Term Holders are spending or HODLing through the rally, and whether risk is growing in options and futures markets.
Read more in The Week On-chain
The Week On-chain #42 Video Report is live!
We analyse the cyclical trend of Long-Term Holders starting to spend $BTC, and rising derivative leverage.
As #Bitcoin approaches all-time-highs, we assess the likelihood of any price headwinds playing out.
We analyse the cyclical trend of Long-Term Holders starting to spend $BTC, and rising derivative leverage.
As #Bitcoin approaches all-time-highs, we assess the likelihood of any price headwinds playing out.
99.705% of the #Bitcoin supply is currently in profit.
Congratulations to all $BTC HODLers on the highest daily market close in history.
Live Chart
Congratulations to all $BTC HODLers on the highest daily market close in history.
Live Chart
As the #Bitcoin market consolidates below all-time-highs, Long-Term Holders are able to realise larger profit multiples.
The current spending pattern in the LTH-SOPR metric indicates they are realising 300% profits on aggregate.
This compares to 800% last time $BTC was at $64k.
Live Chart
The current spending pattern in the LTH-SOPR metric indicates they are realising 300% profits on aggregate.
This compares to 800% last time $BTC was at $64k.
Live Chart
#Bitcoin open interest in CME futures contracts has increased by $3.95B over the course of October
This is in part driven by the introduction of the $BITO ETF product
This represents a 265% growth in open interest since the end of September.
Live Chart
This is in part driven by the introduction of the $BITO ETF product
This represents a 265% growth in open interest since the end of September.
Live Chart
#Bitcoin hit a new ATH last week as the first futures ETF launched.
Open interest and volume in the underlying CME contracts increased 265%.
LTHs have taken strategic profits, but most are still waiting for higher prices.
Read More in The Week Onchain
https://glassno.de/3m84dmD
Open interest and volume in the underlying CME contracts increased 265%.
LTHs have taken strategic profits, but most are still waiting for higher prices.
Read More in The Week Onchain
https://glassno.de/3m84dmD
The Week Onchain Video Report 43 is live
This week we assess the Bitcoin ATH, and how the ETF has affected market structure
We also deep dive into:
- Long-term Holder spending patterns
- SOPR metric interpretation
- #Bitcoin Pricing and cycle top models
This week we assess the Bitcoin ATH, and how the ETF has affected market structure
We also deep dive into:
- Long-term Holder spending patterns
- SOPR metric interpretation
- #Bitcoin Pricing and cycle top models
#Bitcoin is consolidating just below the ATH as derivatives and onchain spending cool off.
The total range of the October monthly candle was $23,205, larger in USD value than all trading history from genesis to Dec 2020.
Read More in the Week Onchain
The total range of the October monthly candle was $23,205, larger in USD value than all trading history from genesis to Dec 2020.
Read More in the Week Onchain