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CryptoQuant Quicktake @CryptoQuantQuicktake
Fundamentals of Bitcoin Are Improving.
The increase in the above data has a very high correlation with the rise in Bitcoin prices. The surge in Fees (the sum of all fees paid to coin miners) is evidence that the Bitcoin ecosystem is becoming very healthy. Recently, there has been a sharp increase in fees, and miners are happy.Written by Mignolet
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
Exploring the World of Ethereum Leverage on Deribit: a Warning on Volatility and Risks
In recent times, Deribit has emerged as the epicenter of highly leveraged Ethereum, standing out as the exchange with the highest level of leverage. The Leverage Estimated Ratio indicator, which assesses the relationship between Open Interest and the exchange's reserves, suggests that Deribit is currently leading the way. This situation may result in high price...
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
Nhu cầu bitcoin lớn hơn lạm phát cung kể từ năm 2020
Say what you will about COVID, but something in 2020 led the crypto market towards true adoption (finally).That is when the supply of Bitcoin on exchanges flipped from inflationary to deflationary. Collectively they shed 36% of BTC supply from 2020 highs.A confluence of factors at play-Higher emissions and less demand in the first decade saw...
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
Two Key Warnings in the Recent Bitcoin Bullish Cycle
In 2023, Bitcoin, as the flagship of the digital currency market, has demonstrated a remarkable price performance, achieving over 120% growth in less than a year. However, examining the current conditions reveals intriguing insights through various crucial data points.1. Wealth Allocation Across Age Bands:Instead of relying on questionable parameters like Tether or Bitcoin dominance, let's...
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
Bitcoin: NUPL Analysis and UTXO Age Bands
NUPL, or Net Unrealized Profit/Loss, serves as a tool to gauge the equilibrium between unrealized profits and losses in the cryptocurrency market.Positive Territory (+):In positive territory, with a NUPL value above '0,' the number of coins or investors in profit exceeds those in loss. This condition arises when the Market Cap surpasses the Realized Cap,...
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
Why the Increase in Bitcoin Prices?
Explore the fascinating correlations between USDT market cap and BTC prices.It is becoming increasingly apparent that whenever new USDTs are minted, there is a noticeable spike in the price of Bitcoin. This phenomenon adds an interesting layer to the dynamics of the crypto market, especially given the historical context of FUD (Fear, Uncertainty, Doubt) associated...
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
BTC: Over Leveraged
Cash-margined BTC futures remain over-leveraged. More stablecoin deposits are needed to fuel this market upwards.Written by Phi Deltalytics
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
Sentiment Remains Bullish
While there are some signs of the market being overextended, the short-term holder SOPR and aSOPR remain in a bullish trend. As SOPR tends to give slightly late signals, I would keep a close eye on these just in case a correction is brewing.Written by Phi Deltalytics
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
Over-extended Funding Rate
The funding rate has been the highest since late 2021. With the increase in CME open interest significantly sharper than that on Binance, I think it's possible that an increase amount of basis trading is happening. While at a completely different scale, this reminds me of late 2021 conditions.Written by Phi Deltalytics
CryptoQuant Quicktake
CryptoQuant Quicktake @CryptoQuantQuicktake
💵Supply and demand play an important role in increasing the value of assets. This also applies to the crypto market.Last October saw an incredible rally, with both volume and OBV increasing. Additionally, there was a clear increase in both the Active Addresses / Transaction Count indicators, which indicate the demand and activity of the on-chain...