news
MicroStrategy Acquires Additional $10 Million in Bitcoin at Average Price of $48,888.
https://www.microstrategy.com/en/investor-relations/financial-documents/microstrategy-acquires-additional-10m-in-bitcoin-at-average-price-of-48-888_03-05-2021
The Frustrating, Maddening, All-Consuming Bitcoin Energy Debate.
https://www.coindesk.com/frustrating-maddening-all-consuming-bitcoin-energy-debate
Bitcoin. At the Tipping Point.
https://ir.citi.com/peFJTnzeEoMSIAEFlwH12VeM5d%2BCckWNrsO9lxpmyWezrz5V%2Bx%2FfRvm0gv6cWRpDHGWtIk7sTME%3D
Understanding Bitcoin. Does Bitcoin Belong in Asset Allocation Considerations?
https://institutional.fidelity.com/app/literature/item/9901337.html?pos=T
Goldman Sachs restarts cryptocurrency desk amid bitcoin boom.
https://www.reuters.com/article/us-crypto-currency-goldman-sachs-exclusi-idUSKCN2AT390
Dan Loeb Is the Latest Billionaire to Dive Into the World of Crypto.
https://www.bloomberg.com/news/articles/2021-03-01/bitcoin-btc-billionaire-investor-dan-loeb-says-doing-deep-dive-into-crypto
Software Firm Meitu Buys $22M of Ether, $17.9M Bitcoin for Its Treasury.
https://www.coindesk.com/software-firm-meitu-buys-22m-of-ether-17-9m-bitcoin-for-its-treasury
Cboe Seeks Approval to List Trailblazer Bitcoin ETF in U.S.
https://www.bloomberg.com/news/articles/2021-03-01/cboe-says-it-s-seeking-approval-to-list-bitcoin-etf-in-u-s
Kentucky bill to provide tax breaks for local crypto miners.
https://cointelegraph.com/news/kentucky-to-provide-tax-breaks-for-local-crypto-miners
Bitcoin vs Ethereum.
https://danheld.substack.com/p/bitcoin-vs-ethereum
Bitcoin and the Separation of Money and State.
https://bitcoinmagazine.com/culture/bitcoin-and-the-separation-of-money-and-state
More Institutional Investors Jumping Into Bitcoin Leaves Less to Go Around, Data Shows.
https://www.coindesk.com/more-institutional-investors-jumping-into-bitcoin-leaves-less-to-go-around-data-show
media
Bloomberg. Bitcoin is Going to Infinity - Kraken CEO.
https://www.bloomberg.com/news/videos/2021-03-04/bitcoin-going-to-infiniti-kraken-ceo-video
Podcast. The Bitcoin Standard Podcast: Bitcoin and Fiat Debt
https://the-bitcoin-standard-podcast.castos.com/episodes/38-bitcoin-and-fiat-debt
Youtube. Dr. Adam Back and Preston Pysh - E12
Podcast. Pomp Podcast 502: Bitcoin as the Apex Predator with Robert Breedlove.
tweets
Some misunderstanding about #bitcoin relative strength index (RSI). This chart shows 200WMA and RSI (basically a moving average, but indexed at 0-100). Note that in 2013 the high RSI (orange/red) period was 10 months and in 2017 8 months. We are now in month 4: bull just started.
#Bitcoin bull markets typically have 3 waves.
We have just completed wave 1.
In 2017 #Bitcoin went up 7.5x from the peak of wave 1 to the peak of wave 3.
That would take #Bitcoin to $315k if it repeated the same pattern.
📉 #Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 4-month low of 1,608.682 BTC
Previous 4-month low of 1,612.202 BTC was observed on 09 December 2020
View metric:
studio.glassnode.com/metrics?a=BTC&…
Coinbase just had another 12K outflow
Reserves down close to 50K over the course of 6 weeks, around 2% of what is stored at exchanges combined
Chart shows diminishing velocity / returns per cycle confirmed by a well defined trendline on log scale, for bitcoin
However, traditional cycle top signals are not flashing yet
Any continuation higher breaks the diminishing returns trend this cycle
Nice visual to the idea
Taker Sell Volume for all derivative exchanges looks helpful to catch the local bottoms.
After a dip, $BTC price looks likely to bounce back in the short term when the volume goes above 150M USD.
Not fully back-tested, just eye-catching tho.
Chart 👉 cryptoquant.com/overview/full/…
People have PTSD about mass-dumping.
But don't worry, we're good now.
Two whale dumping indicators said there are fewer whales compared to the past. The bull-run is likely to continue.
Details 👉 dataguide.cryptoquant.com/quick-start/wh…
2017 Bull Market:
On-exchange #Bitcoin supply accelerated as the price went up - then supply continued to increase even in the bear market.
Something changed in 2020; and it’s been 13 months of declining supply since then - even at record prices.
Yes, this time is different.
Whales accumulating $BTC.
They are making a lot of bear traps lately, but the price seems to recover the institutional buying level, 48k.
Looking at recent Coinbase outflows, most of the outflows that went to custody wallets were at 48k price.
Chart 👉 cryptoquant.com/overview/full/…
Ki Young Ju 주기영 @ki_young_ju
Chart: The increase in Bitcoin users visible on its blockchain per day.
Retail investors arrived in Jan.
Like prior cycles, I expect this peak to top out higher than the ones before it.
Gives you an idea how this bull market is just warming up.
Data: @glassnode
According to @glassnode HODL waves, 3.3m #Bitcoin or 17.87% of circluting supply hasn’t been moved for over 7 years.
Another opportunity to buy the dip?
The SOPR metric has been reliable for "buy the dip" opportunities in bull markets. Are investors getting another chance this week?
Read more in our weekly report tomorrow: bit.ly/3b67kG6
Data: @glassnode
1) #Bitcoin #ETF update: @CBOE submitted the 19b-4 application to trade the shares of the @vaneck_us Bitcoin Trust. It’s time for U.S. regulators to step up to the plate and approve a Bitcoin fund. Europeans have ETPs. Canadians have ETFs. ETFs bring many benefits to markets...
missed last week
The Dimensions of Money.
https://yakes.io/the-dimensions-of-money/