Here we look at the two limits given by the pricing models Tradable MCap & Hash Rate PoW Value.

If the price is above the mean of the two models, the upper one counts. Same the other way around. #Bitcoin

glassnode

Make sure you read the latest glassnode Week Onchain edition folks, it is an absolute cracker.

The insights CryptoVizArt.₿ | ZiCast 🎙 describes about the momentum of spot trade volumes, and patient buyers absorbing sell-side in 2023 is remarkable.

World class

insights.glassnode.com/the-week-oncha…

Is $GBTC ultra sound money 🦇🔊 given it is deflating its supply?

Measure the individual components, and net them out against each other for a full picture.

$GBTC is a seller, but they are only 30-40% of the story

Existing Long-Term Holders are the remaining 60-70% of sell-side

Deeper analysis on this topic below👇

youtu.be/ExF8Nqd5Qp0

Watch it!

Approx 40% (sometimes close to 50%) of inflows are from the ETFs - of the outflows GBTC is 30% (70%ish from LT holders)

I was surprised that the ETFs are such a big chunk BUT I think:

Most people will be surprised that ETFs aren’t bigger

(Big futures vol shocked me)

When #Bitcoin ETFs started trading, $GBTC held 619k $BTC worth over $28B

Over the last 3mths, nearly half their holdings, 296k $BTC, has been sold (1.5% of total $BTC supply!)

...yet $GBTC AUM is still $23.2B due to NGU

More in my latest analysis👇
youtu.be/ExF8Nqd5Qp0

Rare air!

I'll be doing some studies to break down the main drivers of this great #Bitcoin chart TXMC developed many loons ago.

One of the great 'lifespan' metrics in the toolbox

Chop chop chop

#Bitcoin

How Big are the #Bitcoin ETFs Anyway?

Latest _Checkonchain analysis is live, and we're addressing two key questions I've received a lot lately:

1) How big is the impact of the ETFs?
2) Is $GBTC really Long-Term Holder supply?

Enjoy folks!
youtube.com/watch?v=ExF8Nq…

#Bitcoin ETFs are a major market factor this year, but they are only part of the story.

$GBTC has sold hundreds of millions $ of $BTC daily, but is only a subset of the sellside pressure.

Check out my latest analysis looking at how big both sides are.

youtu.be/ExF8Nqd5Qp0

For all of you that really want to understand the #Bitcoin ETF flows and ignore the narratives, no one does it better than _Checkɱate 🟠🔑⚡☢️🛢️. I highly recommend you watch this video.

How Big are the #Bitcoin ETFs Anyway?

Latest _Checkonchain analysis is live, and we're addressing two key questions I've received a lot lately:

1) How big is the impact of the ETFs?
2) Is $GBTC really Long-Term Holder supply?

Enjoy folks!
youtube.com/watch?v=ExF8Nq…

_Checkɱate 🟠🔑⚡☢️🛢️ It was an exciting time. Good vibes, experimenting, and building.

I'm pretty sure my personal conviction about #Bitcoin is the highest it has ever been.

$100k AUD orange coins are starting to feel cheap (although it's a serious adjustment...).

$BTC is almost always cheap from a fundamental perspective, even though it rarely feels like it.

#Bitcoin is in a league of its own.

If you understand this already, well done.

If not, you'll get there eventually.

Bob Loukas 🗽 On-Chain College glassnode David Puell Further to this, watch for divergences late cycle. Explored here (works for both MVRV and AVIV)

insights.glassnode.com/mastering-the-…