Quick Take Bitcoin mining often faces criticism for its energy consumption and environmental impact. However, it also offers significant benefits, particularly in grid stabilization and energy efficiency. One key advantage is the ability of Bitcoin miners to switch on and off instantly, allowing them to respond to fluctuations in energy demand. For instance, Pierre Rochard, […]
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Quick Take On Aug. 5, Bitcoin (BTC) suffered a significant 7% drawdown. The digital asset hit a local bottom at $49,000 before rallying to approximately $54,000 once the US markets opened. Data from Farside highlights substantial outflows from Bitcoin ETFs on this day, totaling $168.4 million. Leading the outflows were Grayscale’s GBTC with $69.1 million, […]
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Quick Take On Aug. 5, Bitcoin experienced its worst-performing day of the year, with a peak-to-trough drop of approximately 16%. However, it has already rebounded by roughly 10% from the lows, with the day yet to close. Historically, Bitcoin’s volatility has led to similar drastic declines. Analyzing Bitcoin’s returns following its worst daily performance of […]
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Quick Take According to Farside data, the Hong Kong (HK) Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) experienced the largest single-day outflow since launch. BTC ETFs Farside data reports that the BTC ETFs witnessed a staggering $25.3 million in combined outflows on May 13, marking the largest single-day outflow since their launch. AMCi saw […]
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Quick Take The Stablecoin Supply Ratio (SSR) created by Glassnode has emerged as a significant factor in analyzing Bitcoin price action. The SSR, a ratio between Bitcoin supply and the supply of stablecoins expressed in BTC, serves as a proxy for the supply/demand dynamics between Bitcoin and USD. This ratio reveals that when it’s low, […]
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Quick Take Recent data from ByteTree highlights Bitcoin held in global Exchange Traded Products (ETPs) had crossed the one million Bitcoin mark, setting a new record. In the past 90 days, these ETPs have experienced a significant inflow of 133,000 BTC, largely attributed to the success of US spot Bitcoin ETFs. Interestingly, this surge in […]
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Quick Take Data from BitMEX shows March began with the first total outflow since Feb. 21. The day saw an outflow of $140 million, significantly impacted by a massive $492 million outflow from the Grayscale Bitcoin Trust (GBTC), marking one of the largest single-day outflows. According to BitMEX data, the Grayscale Bitcoin Trust (GBTC) has […]
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Quick Take Net realized profit-taking for Bitcoin has witnessed an unbroken streak of 128 days, starting from Oct. 20, 2023, until Feb. 25, 2024. This period saw Bitcoin’s price catapult from below $30,000 to $50,000, providing lucrative opportunities for investors. Defined by Glassnode, the net realized profit/loss represents the cumulative profit or loss from all […]
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Quick Take The total amount of funds allocated in open futures contracts or “futures open interest” is nearing an all-time high for Ethereum and Bitcoin in terms of notional value. Ethereum’s open interest currently stands at $10.5 billion, aligning with it crossing the significant price threshold of $3,000. This is particularly noteworthy as its current […]
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Quick Take A Sharpe Ratio for Bitcoin (BTC) +0.97  over the past five years presents a noteworthy observation, according to Jurrien Timmer, director of Global Macro at Fidelity. Despite the renowned volatility of Bitcoin, this ratio suggests that the digital asset has offered a close to even exchange between risk and excess return over the […]
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Quick Take The Bitcoin hash rate experienced a significant drop in the middle of January, triggered by the Texas freeze, which saw it plunge 6% from its record peak. However, this plunge was short-lived, as evidenced by Jan. 25, which witnessed the most significant single-day hash rate ever recorded, at an impressive 638eh/s, marking a […]
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Quick Take The United States’ mounting debt structure currently stands at a staggering $34 trillion, according to usdebtclock.org. An escalating annualized interest accompanies this steep climb on the federal debt that exceeds $1 trillion and is projected to break through the $3 trillion threshold by Q4 2030, according to E.J. Antoni, an economist at Heritage […]
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Quick Take Recent data analysis from Glassnode reveals a substantial decrease in the balance of the Grayscale Bitcoin Trust ETF (GBTC), now estimated at around 553,000 Bitcoin, which is roughly 12% down from its high of 630,000 Bitcoin. A key contributing factor to this decline appears to be the increasing outflows, which have been estimated […]
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Quick Take The futures open interest market has witnessed a seismic shift, with CME rising to prominence, outpacing Binance to hit a 30% dominance. This ascension was propelled by the lead-up to the spot Bitcoin ETF, which saw a high of 136,000 Bitcoin allocated in CME on Jan. 10, which decreased to 112,000 Bitcoin by […]
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Quick Take Standard Chartered Bank’s recent report, dated Jan 8. 2024, provides an analytical perspective on a possible surge in Bitcoin’s price, contingent on the projected approval of spot ETFs by the US Securities and Exchange Commission (SEC). The report draws a significant comparison with historical gold price escalations following the approval of gold ETFs, […]
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Quick Take The nascent year 2024 has marked a significant surge in digital asset investment products globally, amounting to inflows of $151 million in just the first week, as per the analysis by James Butterfill at Coinshares. The Grayscale vs SEC lawsuit seems to have only galvanized investors, leading to a substantial increase in inflows, […]
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Quick Take November 2023 was another robust month for Bitcoin, which saw a surge of almost 7% over 30 days. The month was marked with several highlights, including setting a new year-to-date high by crossing the $38,000 mark. This was attributed to noticeable premiums on CME and Coinbase, signaling bullishness within the U.S. market. However, […]
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Quick Take The current year has witnessed a unique trend on Binance, one of the world’s largest digital exchanges. By analyzing the netflows, a stark divergence can be observed with transactions of $1 million or more and those less than $1 million. Larger transactions are experiencing predominantly outflows, indicating that whales, or large holders of […]
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Quick Take According to CNBC analyst Carl Quintanilla, a staggering $9.8 billion was spent on Black Friday, reflecting a 7.5% increment from the previous year, suggesting robust consumer behavior. However, a source of concern lies in a parallel trend: many of these purchases appear to be financed through personal debt. Experian reports that the average […]
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Quick Take CryptoSlate’s recent analysis has highlighted a growing divergence between Bitcoin miners and the spot price of Bitcoin, hypothesizing a link to the upcoming halving event next year. Intriguingly, this trend seems to echo in the world of precious metals, gold, to be precise. The spot price of gold reached $2,000 this week; this […]
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Quick Take Tulip Mania Historically, financial bubbles, once burst, have shown little propensity for recovery. The infamous Tulip Mania of the 17th century exemplifies this trend, with tulip prices soaring twenty times before crashing a staggering 99% in 1637, as reported by Investopedia. Japanese Real Estate Market The Japanese real estate market provides another poignant […]
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Quick Take New data analysis reveals an unprecedented trend in the circulating supply of Bitcoin. A notable 70% of the supply has not been transacted within the past year, marking an all-time high for supply last active 1+ year. This cohort is experiencing an increased rate of dormancy. This trend, in large part, can be […]
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