@cointracker_cs What about Blockfi reports no reading properly? I tried also following the model suggested but it's saying "File import failed. Header is invalid" even though I used the sample you sent me... I also raised a ticket MANY days ago and nothing..
@100trillionUSD Brazil and Argentina will take a while to do that unfortunately... lucky in the next 5 years, probably after some other country has made a lot of success with it and if they don't find themselves in a bad situation with other more powerful countries...
Who has been selling?
Apart from margin longs liquidating, my guess from the data, it's hedge funds rebalancing for end of Q1 reporting.
Many have mandates to rebalance when an allocation gets too big; BTC has outperformed incredibly. (Sell your winners, buy more losers).
60-Day SOPR (entity-adjusted) reset without falling below one.
This indicates a high HODLing conviction from new investors, as coins that were bought in 2021 did not move at a loss during this last dip.
#Bitcoin
78% of the circulating #Bitcoin supply is illiquid and therefore hardly accessible for buying.
This points to a bullish investor sentiment as large amounts of $BTC are being hoarded – which reduces sell pressure.
Full report: insights.glassnode.com/bitcoin-liquid…
Highlights below 👇
UTXO Realized Price Distribution. This is the on-chain, more precise version of volume profile. The peaks represent the price where most coins changed hands.
$45k upwards is very strong support.
Any dip (if you're are lucky) into $39k is a no-brainer BTFD.
Data: @glassnode
My first article. Feb 27th, 2021
"Bitcoin: Inefficient Transactions. Efficient Store Of Value"
Why the narrative of Store of Value is the only one that matters for BTC (at least for now).
bitcoinized.medium.com/bitcoin-ineffi…
That's how I was actually born.
Be bitcoinized by your favorite Magic Internet Money Wizard🪄
medium.com/@paulbars/magi…
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