JUST IN:
🦈 Bitcoin sharks (100–1k BTC wallets) added 65,000 BTC in the past 7 days. They now hold a record 3.65M BTC. Source: Glassnode, Bitcoin archive
BREAKING >>> U.S. CONGRESS HAS GIVEN THE TREASURY 90 DAYS TO MAP OUT AMERICA’S BITCOIN RESERVE PLAN!
Source: @ByCoinvo
JPMorgan analysts believe Bitcoin ($BTC) is trading below its fair value as its price volatility falls to historic lows, narrowing the asset's risk-adjusted gap with gold.
Volatility in Bitcoin has slid from nearly 60% earlier this year to roughly 30%, the lowest level on record. Analysts led by Nikolaos Panigirtzoglou said this dynamic implies a fair value near $126,000, a target they expect could be reached by year-end, according to The Block. A major driver of the decline in volatility has been corporate treasuries, which now hold over 6% of Bitcoin's total supply. JPMorgan compared the phenomenon to the post-2008 bond market, where central bank quantitative easing dampened swings by locking assets into balance sheets. Source: Yahoo Finance, Coindesk
Bitcoin is dying
Source: Bitcoin Magazine @BitcoinMagazine, blockchain.com
Crypto Assets saw a $1.4 Billion outflow last week, the largest since March
Source: Barchart, coinshares
About bitcoin seasonality...
Good news for all Bitcoin holders: August is typically a weak month for crypto, so don’t panic if prices dip – it’s seasonal. The bad news? September tends to be even worse, with Bitcoin historically averaging a 5% decline in value. Source: HolgerZ, Bloomberg
Over $294 million in Bitcoin long positions were wiped out in the past hour as $BTC flash-crashed below $110K.
Source: Jacob King
A friendly reminder of bitcoin seasonality
Source: Ryan Rasmussen @RasterlyRock, Bitwise Asset Management
