"DeFi started on Bitcoin.
Ethereum and Solana popularized it. Now time for all of that activity to come back to the original chain". Dan Held
NEW: Cathie Wood says $600,000 Bitcoin is the base case but could go higher because of scarcity, institutional adoption and a spot bitcoin ETF
Source: Bitcoin archive
For the first time in years, crypto markets are beginning to see tons of new liquidity
Since November 2022, crypto markets have added $600 billion in value. That's a +75% jump in one year while Bitcoin is up +120% over the last year. This comes after years of consistent outflows from crypto markets. Source: The Kobeissi Letter
Another Uptober for Bitcoin. Largest cryptocurrency gained 28% in Oct, most since Jan2023
Source: Bloomberg, HolgerZ
BlackRock's iShares Bitcoin Trust is now re-listed on the Depository Trust & Clearing Corporation $IBTC
Source: Bitcoin magazine
Blockchain data shows a record 76% of bitcoin is owned by ‘long-term hodlers’ who have not moved their coins in +155 days
Source: Documenting Bitcoin, Ark Invest, Glassnode
Chartr on bitcoin volatility
For the most prominent cryptocurrency, the chaos of the 2020-2022 era seems long gone. Bitcoin, which was often criticized for being too volatile, hasn’t seen a daily gain or loss of more than 10% this year. That's in stark contrast to 2022 and 2021 when it swung outside this range 9 and 11 times, respectively. All told, the price of Bitcoin has risen more than 60% this year, despite the continued crackdown on major exchanges such as Binance and Coinbase. But, even though Bitcoin is looking a little bit more stable, enthusiasm for the sector more broadly looks to have vanished, with venture capital funding for crypto companies and projects falling to a 3-year low.
New record bitcoin hashrate!
420,000,000,000,000,000,000x per second Source: Documenting bitcoin
