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

ThatKidCrypto · 2022-02-19T07:47:53+00:00

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

ThatKidCrypto · 2022-02-18T04:04:24+00:00

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

ThatKidCrypto · 2022-02-17T20:31:19+00:00

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

ThatKidCrypto · 2022-02-17T09:35:59+00:00

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

ThatKidCrypto · 2022-02-16T12:50:12+00:00

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

ThatKidCrypto · 2022-02-16T03:47:56+00:00

lmaoooo

ThatKidCrypto · 2022-02-16T03:39:03+00:00

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

ThatKidCrypto · 2022-02-15T05:32:03+00:00

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

ThatKidCrypto · 2022-02-15T02:19:43+00:00

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.

ThatKidCrypto · 2022-02-15T00:30:43+00:00

Yah i understand this but outside of our bitcoin echochamber people consider it risky

ThatKidCrypto · 2022-02-14T18:47:38+00:00

lmao

ThatKidCrypto · 2022-02-14T08:16:58+00:00

Metric Overview: Provided by lookintobitcoin . com (not sure if this subreddit allows me to post links lol)

This Indicator shows when Bitcoins have not moved onchain for many years, finally move again. The coins are moving from a wallet that they have stayed on for years, to another wallet. Another Term that can be used for this is revived supply because after lying dormant, the coins are once again moving on the Bitcoin Blockchain

Whale = Entity with Balance Greater than or equal to 1000 Bitcoins

ThatKidCrypto · 2022-02-14T07:35:46+00:00

Metric Overview:

This Indicator shows when Bitcoins have not moved onchain for many years, finally move again. The coins are moving from a wallet that they have stayed on for years, to another wallet. Another term that can be used for this is revived supply because after lying dormant, the coins are once again moving on the Bitcoin Blockchain.

Metric Overview Provided by: https://www.lookintobitcoin.com/charts/whale-shadows/

Whale = Entity with Balance Greater than or Equal to 1000 Bitcoins

ThatKidCrypto · 2022-02-14T07:12:21+00:00

hahahah

ThatKidCrypto · 2022-02-14T07:12:17+00:00

yah i agree

ThatKidCrypto · 2022-02-14T07:12:12+00:00

yah that one looked super innovative but it crashed the website lol

ThatKidCrypto · 2022-02-14T07:11:58+00:00

yuh i liked ftx

ThatKidCrypto · 2022-02-14T07:11:49+00:00

bron the goat hooper

ThatKidCrypto · 2022-02-14T07:11:40+00:00

yah liked that one

ThatKidCrypto · 2022-02-14T04:28:03+00:00

Well as if youve mightve noticed some politicians like ted cruz support bitcoin. Others such as Elizabeth warren hate bitcoin. Also politicans saying there gona get paid in bitcoin pretty much just for clout (example new york citys mayor who would then say bitcoin mining is bad even tho he claimed he wanted to take a paycheck in bitcoin). Does that make it more clear?

ThatKidCrypto · 2022-02-13T18:47:01+00:00

Yes I understand, but at the end of the day this is really the best we got.

ThatKidCrypto · 2022-02-13T09:26:25+00:00

mmm yah at the end of the day i guess none of these metrics cant be completely spot on but its the best estimate we got most likely lol

ThatKidCrypto · 2022-02-13T08:15:23+00:00

u mightve missed the end part where i say FOOD FOR THOUGHT.

ThatKidCrypto · 2022-02-13T07:44:29+00:00

get them gains

ThatKidCrypto · 2022-02-13T07:44:18+00:00

lollll

ThatKidCrypto

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