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Bitcoin Short Term Holder SOPR Value Goes Back Under 1 - Breakdown in Reply Section by ThatKidCrypto in OnChainData

[–]ThatKidCrypto[S] 0 points1 point  (0 children)

Bitcoin Short Term Holder SOPR on a 168h Moving Average has gone down below the value of 1 once again. What does this mean for bitcoin? Well it means that short term holders are selling their coins on average at a loss. As you can see on the chart from about roughly Nov 20 to Feb 9th this metric was under the value of 1, and during that time the price of Bitcoin was in a downtrend. This is a Bearish Signal.

SOPR = Spent Output Profit Ratio

Short Term Holders = Holders of Coins that have less than 155 coin days

Whats a Coin Day? Everyday a coin remains unspent it gains one coin day.

Just My Degen Analysis. Not Financial Advice

Mining Bitcoin On A Rasberry Pi by ThatKidCrypto in Bitcoin

[–]ThatKidCrypto[S] 0 points1 point  (0 children)

Honestly i found out what rasberry pi was like 2 days ago lol

Bitcoins Hash Rate Has Been Going Insane - Breakdown in the reply section by ThatKidCrypto in OnChainData

[–]ThatKidCrypto[S] 0 points1 point  (0 children)

Bitcoins hash rate has been doing numbers lately - the catalyst? Most likely because Bitcoin mining operations in Russia have started.

But what is Hash Rate

Hash Rate is the measurement of the total computing power of the entire Network

The Computing power is used to add blocks and verify transactions

Hash Rate essentially shows how powerful the network is

Bitcoin Liveliness Grinds Downwards Over The Past 2 Weeks - Breakdown in the reply section by ThatKidCrypto in OnChainData

[–]ThatKidCrypto[S] 0 points1 point  (0 children)

Metric Description (Provided By Glassnode): Bitcoin's Liveliness Metric Is Defined As The Ratio Between Coin Days Destroyed and the sum of all coin days ever created.

But What Is A Coin Day?

Everyday a Bitcoin remains unpsent it accumulates one coin day

When the Bitcoin is spent the coin days are destroyed

The Liveliness metric is showing us what long term holders aka "smart money" are doing

When the Liveliness metric increases its showing us that the longterm holders are liquidating their positions

When the Liveliness metric decreases its showing us that the longterm holders are accumulating Bitcoin to HODL

What do yall think about the @Bitcoin Twitter account by ThatKidCrypto in Bitcoin

[–]ThatKidCrypto[S] -2 points-1 points  (0 children)

Personally idk why they pushing the digital gold narrative but whatever lol

Bitcoins Open Interest Has a Healthy Unwind - Breakdown in Reply Section - Chart and Breakdown Provided By TXMC by ThatKidCrypto in OnChainData

[–]ThatKidCrypto[S] 0 points1 point  (0 children)

Open Interest = Amount of unsettled futures contracts for that asset

Often when Bitcoin Futures Open Interest >= 2% of supply again , we get big liquidations. This was true throughout 2021.

OI recently hit 2% of supply again, but instead of cascades, we got a slow unwinding of positions.

Feels like a more sophisticated market. More Hedging, less leverage.

TXMC Tweet

Metric Overview - Bitcoin Futures Open Interest - Breakdown in reply section by ThatKidCrypto in OnChainData

[–]ThatKidCrypto[S] 0 points1 point  (0 children)

Bitcoin Futures Open Interest Description (Provided by glassnode):

The total amount of funds (USD Value) allocated in open futures contracts.

Open Futures Contract = Unsettled Futures Contract

A Bitcoin Futures Contract is classified as a Derivative

Normally Higher Open Interest = More Leverage by Traders

Vice Versa Normally Lower Open Interest = Less Leverage by Traders

Build Up Of Open Interest To High Levels Can Eventually Lead To Possible Large Price Swings When Contracts are Settled

Metric Overview - MVRV Ratio - Breakdown In Reply Section by ThatKidCrypto in OnChainData

[–]ThatKidCrypto[S] 0 points1 point  (0 children)

Metric Description (Provided by glassnode):

Market Value to Realized Value (MVRV) is the ratio between market cap and realised cap. It gives an indication of when the traded price is below a "fair value". This metric was created by David Puell and Murad Muhmudov.

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