New Report: The Forces Moving Bitcoin
In this report, we present a framework aiming to describe which factors are relevant for bitcoin's price discovery, the interplay between them, and how their importance varies over time.
Download the full report now:
NEW REPORT: The State of Lightning⚡️
The State of Lightning provides the most comprehensive overview of usage on the Lightning Network seen to date.
Powered by
@OpenNodeCo
and supported by
@lightning
Download now:
El Salvador🇸🇻 is building the world's first
#Bitcoin
city, financed with "Bitcoin Volcano Bonds" - as announced by
@nayibbukele
and
@Excellion
on Sunday.
This infographic explains how it works.
From our weekly market report:
Institutional buying?🏦
The number of addresses holding at least 1000 BTC has skyrocketed lately.
The growth from January to December last year: 6.7%
The growth from December until today: 7.2%
Read more in our weekly report tomorrow:
Data:
@glassnode
Stablecoin lending yields more than twice as much as US junk bonds and almost 150 times as much as the average US savings account.
No wonder why the cryptocurrency lending industry is growing at such a staggering rate.
From our weekly market report:
“If the Terra Ecosystem was a sinking cruise ship, the captain and distinguished guests fled in superyachts, leaving most passengers behind without lifeboats.”
New piece by
@andershelseth
NEW REPORT: The State of Lightning - Vol 2
Powered by
@OpenNode
Adoption is rising quickly, and the use of Lightning is growing much faster than the public numbers show.
Learn more in our new report:
S&P 500 fell for most of the day, while
#bitcoin
climbed. First day in a while without tight co-movement. Is this the start of a decoupling and a return to uncorrelatedness for
#bitcoin
?
Bitcoin’s climate footprint of 37Mt CO2 is still minuscule compared to other digital industries.
The total GHG emissions from digital tech are estimated to 1600Mt, with Bitcoin contributing to roughly 2.3% of the
digital tech emissions.
The BTC deposits at major exchanges has dropped significantly since April and is currently at the low-levels of May 2019. This suggests that more users prefer to store their BTC in private wallets, which may lead to a lower selling pressure the upcoming months.
Data:
@glassnode
A total of $602m worth of bitcoin short positions got liquidated in the aftermath of the Tesla news.
Combined with the earlier short-squeeze driven by
@ElonMusk
's bitcoin tweet, a total of $1.2b shorts have been liquidated on Musk driven events.
Data:
@bybt_com
The BTC deposits at major exchanges is still falling, and currently sits at its lowest levels since November 2018.
This could lead to a lower selling pressure going forward, as fewer hodlers are preparing to sell and realize profits.
Data:
@glassnode
Did you know that
#bitcoin
has broken its all-time high vs Argentine Peso, Turkish Lira and Brazilian Real?
Read more in our weekly market update tomorrow:
Since
#Bitcoin
miners have economic incentives to utilize renewable energy, their sustainable power mix is estimated to be 58% - almost three times higher than the world average.
Learn more in our weekly market report:
#Bitcoin
returns have historically varied between trading hours. In 2021, most returns were made when the European market was open, while the Asian trading hours yielded negative returns.
Subscribe to our weekly report:
Data:
@NYDIG_BTC
BITI, the first inverse BTC ETF, grew further last week.
After becoming the second-largest bitcoin-related BTC ETF in the U.S. after only four days of trading, the net short exposure has grown further and increased by more than 300% last week.
⚡️The Lightning Network BTC Capacity just passed 1000 BTC⚡️
The BTC Capacity of the Lightning Network has been trending upwards the last 12 months and has now returned to the levels of May 2019. Data (
@LNstats
, 1ML)
In July, a Texas bitcoin miner earned more turning off its machines than mining bitcoin.
@RiotBlockchain
generated $9.5 million worth of power credits in July, significantly more than their bitcoin production this month of 318 BTC, worth $6.9 million.
Data from
@glassnode
shows that the number of active BTC addresses dropped sharply in May, and is now at the lowest level since November last year.
A top signal, or just a correction?
Read more in this week's market report:
(1/2) Argentines are dumping record amounts of pesos for
#bitcoin
on
@LocalBitcoins
, as the government is about to default on its debt () and the currency is suffering from inflation. (Source:
@Coin_Dance
)
NEW REPORT: How Bitcoin Mining Can Transform the Energy Industry
Bitcoin miners are uniquely flexible energy consumers that can help solve some of our biggest energy problems.
Powered by
@CowaMining
Learn more in our new report:
Lightning Network activity on the rise⚡️
The BTC Capacity on Lightning has reached a new ATH of 1151 BTC!
On Saturday the number of public channels on Lightning reached a new ATH of 40,400, surpassing its 2019 peak of 40,319 public channels.
Read more:
Lightning Network capacity has exploded since El Salvador🇸🇻 made
#Bitcoin
legal tender in September.
Lightning Network capacity is now 3,225 BTC - a new all-time high.
From our weekly market report:
🎅⚡️Dec 1st here, and so is the first day of The Lightning Christmas Calendar! ⚡️🎅
Reply with the correct answer to today's question, and enter the draw to win 100,000 sats being sent to one lucky winner tomorrow.
Deadline: Dec 2, 13.00 CET
More on the calendar -> picture 2
The bitcoin hashrate reached a new all-time high this week with the 7-day average hashrate surpassing 140 EH/S.
That’s 36% higher than the hashrate starting this year, a clear indication that the bitcoin fundamentals are as strong as they’ve ever been.
Data:
@glassnode
ETH Futures launch on
@CMEGroup
🏦
The first day of trading for CME's ETH Futures ended with over $30 million in volume and $20 million in open interest.
Read more in our weekly report later today:
The Bitcoin Lightning Network ecosystem is growing!
Our data on Lightning Network payments points to usage growing more than public capacity as well.
Stay tuned for an updated State of Lightning report in early April 👀⚡️
Read more:
⚡️🎅The Lightning Christmas Calendar🎅⚡️
That's it with winning opportunities for this time! ⚡️
We'll continue paying out the prizes, so don't despair if you haven't got your invoice paid yet!
And if you slept, post your invoice, we'll pay out tomorrow too!🎅
The 2017 bull market gave investors several buying opportunities. On-chain data is now showing similar trends:
The Spent Output Profit Ratio (SOPR) is dropping towards 1 again.
Are you buying this dip?
Read more in our weekly report:
Data:
@glassnode
1/ Yesterday, we published our new report: The State of Lightning - providing the most comprehensive overview of usage on the Lightning Network seen to date.
Powered by
@OpenNodeCo
and supported by
@lightning
Short summary in thread 👇
Haven't found the time to read our in-depth report "The State of Lightning" yet?⚡️
No worries!
Thanks to
@TheGuySwann
@BitcoinAudible
, the full report is now available as podcast episodes🙌
Part 1:
Part 2:
Enjoy⚡️
Chart of the week! ⚡️⚡️⚡️
Lightning has gotten increasing attention lately and has seen strong growth in 2021. Yesterday, the network capacity surpassed 1500 BTC.
More about lightning in this week's market report:
Data:
@BitcoinVisuals
,
@LNstats
THORChain has survived the bear market and hacks, recently hitting all-time highs in trading volume.
THORChain’s RUNE is solidifying its place in DeFi, but Navigating Narratives argues that there are more intriguing plays in the ecosystem.
Read more👇
⚡️🎅The Lightning Christmas Calendar🎅⚡️
Meme competition - haha, too close to call! Therefore, 10,000 sats to everyone who replied with a meme within the time limit⚡️⚡️
Saturday's Dec 11 task will drop tonight - with deadline Sunday evening.
Have a great Saturday!🎅
Introducing our new article series🥳
Each month, our own
@ercwl
will share his thoughts on the market and what he's paying a particular interest to currently.
This month, he covers governance tokens, layer 2 solutions and bitcoin.
Read his first piece:
One of the main stories of the year has been the sharp decline in the aggregated BTC exchange balance.
After moving sideways throughout November, the BTC exchange balance has once again started declining.
Data:
@glassnode
⚡️🎅The Lightning Christmas Calendar - Dec 3🎅⚡️
We are barely getting started. Reply with the correct answer, and enter the draw to win 100,000 sats!
Also, be sure to pick up your prize if you participated yesterday⚡️
Deadline: Dec 4, 13.00 CET
The Weekly Update: Week 51
This week's report is a special edition - much more comprehensive than usual.
We summarize what happened in the crypto market in 2021, with some predictions for 2022. Enjoy the report!
The gold-backed token market has increased by 360% since the beginning of 2021. So far, primarily gold-backed tokens have attracted investment, but other commodities may soon follow.
Read more on our new research platform:
⚡️🎅 The Lightning Christmas Calendar 🎅⚡️
Record number of contestants on yesterday's task ⚡️
The lucky winner of 100,000 sats is
@Btcfan4
, congrats! 😁
AND, 5,000 sats in bonus for all participants within the deadline.
Reply with an invoice, preferably QR-code 😁
Bitcoin's unique properties make it the perfect collateral asset.
- No counterparty risk or credit risk
- Trading 24/7, 365 days a year, all over the world
- The most portable asset the world has ever seen
Read more in our report powered by
@Bitstamp
⚡️🎅The Lightning Christmas Calendar - Dec 16🎅⚡️
Back to Basis! 100,000 sats to one lucky winner, and potential for some participation bonus 👀
Deadline Dec 17, 13.00 CET
Answer in reply⚡️
SEC has denied all
#bitcoin
spot ETFs but has been comfortable approving futures ETFs that include rolling costs.
SEC's mandate is to protect investors, and they sure have protected BTC investors from higher gains.
From our weekly report:
Never have we seen so many active addresses on the Bitcoin blockchain.
The number of active addresses (7-day average) surpassed 1.24 million on Jan 8th, marking a new record high.
Read more in our weekly report:
Data:
@glassnode
Presenting our new report!
Banking on Bitcoin - The State of Bitcoin as Collateral
Bitcoin's unique properties make it the perfect collateral asset. This report covers how bitcoin is used as collateral today via exclusive data.
Powered by
@Bitstamp
⚡️🎅The Lightning Christmas Calendar🎅⚡️
Next up we're playing Turbo'84 by
@THNDRGAMES
!🏎️
Participation bonus to everyone playing. Extra bonus to highest score.
Proof by screenshot in reply!
Close at 20.00 UTC
Iphone:
Android:
Our report "Summary of 2021 in Crypto" is now available in video format thanks to
@coinbureau
.
If you haven't read the report yet, you can find it here:
We're excited to announce our new partnership with
@BlockFi
!
A new biweekly report series by BlockFi and Arcane Research, assessing the state of institutional investments and activity in the digital assets space, exclusively for BlockFi clients.
A very important date for
#Bitcoin
is rapidly approaching. November 14th is the final deadline for the SEC response to VanEck’s spot-based BTC ETF.
Will we see a spot-based
#Bitcoin
ETF soon?
From our weekly market report:
⚡️🎅The Lightning Christmas Calendar - Dec 4🎅⚡️
First Saturday of December, but The Lightning Christmas Calendar does not take weekends off - just like Bitcoin.
100,000 sats to one correct and lucky respondent. Mark what's true. Either screenshot or letter/numbers in reply.
Whales are accumulating more
#BTC
The number of wallets holding more than 1000+ BTC just reached a new all-time high🐳
The recent uptick shows that large BTC holders currently have no interest in realizing profits.
Data from
@santimentfeed
⚖️Comparison: 'Spray & pray' altcoin vs. bitcoin-only strategy
The altcoin strategy buys the entire top 100 by mcap in January 2015 - then buys all new entrants to the top 100 later.
The bitcoin-only strategy simply buys bitcoin every time instead.
News Update:
@Equinor
, one of the largest energy companies in the world, has partnered with the startup
@CrusoeEnergy
to significantly reduce flaring from operations through bitcoin mining.
A faster recovery than previous cycles? 📈
If the current price rally marks the start of a new and prolonged bull market, the recovery will be significantly quicker than in previous cycles.
There are rational arguments for this recovery being faster than the past cycles. The…
Bitcoin is no stranger to long and painful drawdowns.
The current 222-day long drawdown of -73% may feel painful, but the faith of
#bitcoin
hodlers was tested much harder in 2013 and 2017.
⚡️🎅The Lightning Christmas Calendar - Dec 21🎅⚡️
The last hard one today. The remaining days are going to be plain sailing 😁
100,000 sats to the winner, and participation bonus to the rest of the participants⚡️
Deadline: Dec 22, 17.00 CET
Through its ownership stakes in MicroStrategy (1.51% as of December 31st 2019), the Norwegian Government Pension Fund now indirectly holds 577.6 bitcoin (~57.5 MNOK, 6.3m USD).
The futures basis on CME’s most traded BTC contract, the front-month futures contract, is trading in sharp backwardation.
The previous all-time low occurred in July 2021 and was followed by a hefty short squeeze. What will happen this time?
Bitcoin mining is an energy-intensive and stable load that can be rapidly adjusted up or down with extreme precision at no extra cost. These factors make it an unmatched alternative for stabilizing electric grids through demand response.
#Bitcoin
transaction fees have been abnormally low in this autumn's bull market. During other bull markets, mean fees have been about $60. The mean fee now is just $3.
Why are fees so much lower in this bull market?
Subscribe to our weekly market report:
The Fear and Greed Index is now at 21, a level not seen since April 2020.
An extremely fearful market like this has historically presented solid buying opportunities during bull cycles.
Read more in our weekly market report:
Ecosystem overview: The map below shows how all parts of the growing bitcoin ecosystem are connected, exemplified by a few companies.
Learn more about the bitcoin trading ecosystem and the emerging institutional infrastructure in our new in-depth report:
#Bitcoin
beats both the stock market and gold for the third year in a row.
Will
#Bitcoin
beat the stock market and gold next year as well?
From our weekly market report:
⚡️🎅Dec 2, and day 2 of The Lightning Christmas Calendar!🎅⚡️
Reply with the correct answer to today's question, and enter the draw to win 100,000 sats being sent to one lucky winner tomorrow.
Tomorrow might be good for some random prizes as well 👀
Deadline: Dec 3, 13.00 CET
⚡️🎅The Lightning Christmas Calendar - Dec 10🎅⚡️
It's Friday, and time for some light-hearted fun! Post your best meme according to the description in the picture.
A total prize pot of 300,000 sats will be dealt discretionary⚡️⚡️
Deadline: Saturday 13.00 CET
Thousands of people globally are donating millions worth of cryptocurrencies to support Ukraine🇺🇦. Have we underestimated the power of using cryptocurrencies for fundraising?
This quarter could be an eventful quarter for bitcoin as we await SEC’s final verdict on the ever-growing list of pending BTC ETFs.
Will we see a bitcoin ETF being approved this year, and if approved, what impact could ETFs have on the bitcoin price?
New investors entering the market?🤠
📈The search interest for "buy crypto" is growing rapidly and has spiked this summer📈
We're now at the highest level since January 2018, according to data from
@GoogleTrends
.
Hello crypto twitter👋👋
We're searching for someone to help us with graphics and illustrations on our new research platform!
Looking for work? DMs are open🤝
#Bitcoin
exchange balance is plummeting and sits at the lowest level in more than 3 years.
Holders are moving bitcoin out of exchanges - limiting the supply that is available for selling.
Sign up for our weekly report:
Data:
@glassnode
#Bitcoin
trading activity is far higher during US market hours.
The trend is even more telling in 2022. Since Jan 1st, 43% of the BTC trading volume occurred during US market hours, with bitcoin seeing high correlation to S&P 500.
From our weekly report:
⚡️🎅The Lightning Christmas Calendar🎅⚡️
Winner of the Dec 21 task and 100,000 sats is
@theuglycats
!
Bonus to the rest who participated in time, 20,000 sats yet again ⚡️
Reply with an invoice to your answer on the task post 😁
We are currently in El Salvador🇸🇻 to present our research report on the Lightning Network⚡️ at the
@AdoptingBTC
conference.
If you haven't read our Lightning Network report yet, you can download it here:
NEW REPORT: The Bitcoin Trading Ecosystem
We're excited to share our latest report, discussing different aspects of the bitcoin trading ecosystem and gives an overview of how interconnected the current infrastructure is.
Powered by
@LMAX
Download now:
Why you should sell all your ADA (Cardano)
The Cardano network’s complete lack of meaningful activity will make the Ada token worthless over time.
Read the full reasoning on K33 Research 👇
Did the Terra founders and VCs cash out huge profits before the project collapsed?
Clusters of wallets funded by Terraform Labs and/or other early top holders have $6 billion in net outflows to centralized exchanges and bridges from October 2021 to May 2022.
⚡️🎅The Lightning Christmas Calendar - Dec 5🎅⚡️
Weekly task. Deadline next Sunday, so take your time. Doing some daily tasks first will also make the weekly task easier.
Read the cards carefully.
500,000 sats to one winner.
+ 500,000 sats in bonus/participation pot
Have fun!
⚡️🎅The Lightning Christmas Calendar🎅⚡️
Make a wish 22 Dec
So many good wishes, impossible to differentiate.
10,000 sats to all who made a wish (we'll tag you 😁)
And 100,000 sats to
@CrytoAlex
and
@Liquicitizen2
for the family type of wallet wish 😁
A reliable pattern or an illusory correlation?
BTC’s current drawdown and recovery cycle is remarkably similar to the pattern seen in the 2018-19 bear market in terms of length and trajectory.
If history repeats, BTC will peak around May 20 at $45,000.
⚡️🎅The Lightning Christmas Calendar🎅⚡️
First out: Rewards on the Turbo´84 by
@THNDRGAMES
competition.
Some crazy speeds🤯
Participation bonus of 10,000 sats to everyone who played in time. We´ll tag you 😁
100,000 to 3 fastest:
@sammywiener
@pazzay1
@Arshiya_mhe
Live from Oslo!
@VetleLunde
joined Bloomberg TV yesterday, discussing the current Bitcoin ETF flows, what could be next for Bitcoin after the ETF narrative, and the potential implications for altcoins.
Watch the full interview here:
420,000 Norwegians (10% of the adult population) own cryptocurrencies
Over the last year, we've seen a doubling in the female ownership rate in crypto.
330,000 Norwegian adults aged 39 and younger own crypto, compared to 198,000 Norwegians owning stocks.
⚡️🎅The Lighting Christmas Calendar - Dec 11🎅⚡️
Enough with the memes 😅 New daily task with deadline Sunday 19.00 CET is now out.
100,000 sats to one of the contestants that get it right⚡️
Answer in reply.
Best of luck!🎅
What is Taproot, the next Bitcoin upgrade?
Taproot is arguably the most important and anticipated upgrade to the Bitcoin network since the Segregated Witness (SegWit) upgrade in 2017.
Learn more in our new blog post:
If
#Ethereum
's merge on Wednesday goes as planned, ETH miners will be obsolete.
ETH miners earned $18 billion in 2021, compared to $17 billion for BTC miners.
"...over time we expect Lightning to become a payment option as common as cash or credit card payments are today.”
-
@Snyke
, Researcher at
@Blockstream
What makes the former Soviet republic of Georgia🇬🇪 so attractive to
#bitcoin
miners?
Read the first piece in our new article series by
@JMellerud
, describing the bitcoin mining industry in various countries worldwide, starting with Georgia.