Single whale withdraws over $120M in Bitcoin from crypto exchange Gate.io
Roughly 10k BTC have left exchanges over the weekend.
James Van Straten 1 min read Bitcoin Insights
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James Van Straten 1 min read Latest insights
Macro
Coinbase leads the pack in crypto equities performance YTD
The prominent cryptocurrency exchange Coinbase leads crypto equities performance — with Coinbase stock price up 142% YTD.
Bitcoin
Ethereum continues to underperform while majority of L1s outperform BTC
Ethereum has underperformed by over 4% against BTC in the last 2 weeks
Bitcoin
Significant distribution in the Bitcoin network from all cohorts – similar pattern occurs after bear market bottoms
The Accumulation Trend Score indicator suggests that all BTC cohorts are currently in a state of distribution.
Bitcoin
The Fed made the expected 25bps hike, both gold and Bitcoin surged on the news – highest correlation in 6 months
Bitcoin and Gold now have a 97% correlation in the last 6 months, in light of the expected 25bps Fed interest hike.
Bitcoin
Bitcoin seeing greatest divergence in young vs old supply
This type of behaviour occurs at bear market bottoms
Bitcoin
Bitcoin miner share prices soar in January 2023
Bitcoin miners' shares are starting to see an uptick in 2023 after a tumultuous 2022.
Bitcoin
As Bitcoin rallies after FTX collapse, 25% of supply is held between $15.5k and $23k
Less than 1% of all Bitcoin supply is sitting between price levels of $24,000 and $26,000
Bitcoin
Bitcoin establishes highest monthly returns since October 2021
The second-best January in Bitcoin history.
Bitcoin
Stablecoin withdrawals from exchanges reach $800M on Jan. 30
While $230M of inflows have occurred for Bitcoin on Jan. 30, the fifth largest inflow in three months
Bitcoin
Behavioural shift as Bitcoin holders in aggregate no longer underwater
Bitcoin has broken above multiple cost basis.
Bitcoin
Third consecutive Friday of significant outflows for Bitcoin
Friday, Jan. 27 saw the third biggest withdrawal of Bitcoin from exchanges year-to-date.
Bitcoin
As Bitcoin and Ethereum continue rally, capitulation severity has lessened
Capitulation has marked bottoms in previous cycle