institutions, traders who buy at spot not leverage and then hodl forever (belief in the fundamentals), short term traders buying dip looking for 5-10% short term profits. smart money.
inverse correlation sure - overlay DXY on BTC and you see as the DXY hit record highs then backed off a bit, you see BTC hitting cycle lows and then picking up a bit. nasdaq chart for third overlay shows a direct correlation that stays in sync nearly always (for now).
Your concern is understandable, except on-chain data is different from exchange data. A wash sale would not show up on-chain, because there is no reason for the exchange to actually move coins (via utxo’s on the blockchain) for trades that happen on the exchange. Not only would it be more costly to execute wash trades on-chain, there would be no point because it wouldn’t affect the exchange-traded price (i.e. market-manipulation being the real purpose of trading with yourself.)
How are ppl who bought at the 69k top considered "Long Term Holders"? Feels like all the TH-cam 'Crypto Experts' got into the space like 1-2yrs go. I was buying btc in 2011, and I don't claim to be an expert or share my knowledge everywhere... To be clear, Glassnode and their TH-cam channel is absolutely excellent; just tired of all the new ppl in the space who haven't been thru at least 1 crypto winter spreading fud and pretending they know what they're talking about (many of whom have tons of subscribers)
Long Term Holders is a technical term that considers how long a coin has been held (155-days). We defined this based off statistics of when coins are spent. See this report for full details insights.glassnode.com/quantifying-bitcoin-hodler-supply/
My favorite btc coverage on TH-cam 💯 ty
Best indepth analytic data coverage available...anywhere. Facts. Numbers. Data. Can't debate it. Can't argue it.
I've been following for months now, this is one of the best videos that I have seen.
Pure data / no bullsh*t - absolut awesome video! Thanks for explaining
Seeing Bitcoin as a commodity which trends around its cost of production makes so much sense, damn
Top-notch level analysis of the whole market. Thanks Glassnode Team for sharing these amazing insights with us.
Where can we find the bitcoin difficulty regression model ? I cant seem to find it on the glassnode website...
Love your onchain analyses, keep your good work 👌
Thanks really starting to understand your metrics
Best charts out there. Thanks.
So... who is picking up the coins from the panic sales?
institutions, traders who buy at spot not leverage and then hodl forever (belief in the fundamentals), short term traders buying dip looking for 5-10% short term profits. smart money.
what about LTH and investors selling at a loss and then buying straight back in for capitol loss tax deductions..??
Fantastic assessment! Thank you for that!
Awwesome info - thanks!
Can't express how much I enjoy your videos. Thank you!
Is Bitcoin's slump directly related to the dollar's volatility?
inverse correlation sure - overlay DXY on BTC and you see as the DXY hit record highs then backed off a bit, you see BTC hitting cycle lows and then picking up a bit. nasdaq chart for third overlay shows a direct correlation that stays in sync nearly always (for now).
directly related to the NASDAQ or S&P 500 futures
@@IamSamSammIam The main factor still depends on the dollar, doesn't it?
Powerful
good video, but jerome powell is in control of the price
Have you ever thought these realise losses could be wash sales.
Wash sales? Like people (whales) trying to trigger a liquidation cascade?
Your concern is understandable, except on-chain data is different from exchange data. A wash sale would not show up on-chain, because there is no reason for the exchange to actually move coins (via utxo’s on the blockchain) for trades that happen on the exchange. Not only would it be more costly to execute wash trades on-chain, there would be no point because it wouldn’t affect the exchange-traded price (i.e. market-manipulation being the real purpose of trading with yourself.)
That $17,600 was amazing. Mining cost of production also an uptrend line from 2015 thru 2020.
Essential insights at crucial moments. Thank you.
=One Love=
-A
Ty my dude
miners not yet capitulate, i think price still can drop
so what we are looking at today is the end. enjoy
Sounds like the narrator is a Kiwi?
❤️
The $17600 aligns with the USA Government looking to consider BTC a commodity while most Alts will be considered securities.
Noice
Miners still haven't thrown the towel. Wait a few weeks and BTC will be at 10k and video cards will be sold as paper holders.
you mean Paperweight 😁
How are ppl who bought at the 69k top considered "Long Term Holders"? Feels like all the TH-cam 'Crypto Experts' got into the space like 1-2yrs go. I was buying btc in 2011, and I don't claim to be an expert or share my knowledge everywhere... To be clear, Glassnode and their TH-cam channel is absolutely excellent; just tired of all the new ppl in the space who haven't been thru at least 1 crypto winter spreading fud and pretending they know what they're talking about (many of whom have tons of subscribers)
Long Term Holders is a technical term that considers how long a coin has been held (155-days). We defined this based off statistics of when coins are spent. See this report for full details insights.glassnode.com/quantifying-bitcoin-hodler-supply/