Ben Brannan

The Supply of Bitcoin That Hasn't Moved in 1+ Years Hits All Time High 🔥 ➡ The number of Bitcoin that haven't been moved in over 1 year has hit an all time high of 13.65M. Representing roughly 70% of all circulating supply. ➡ The number of Bitcoin which haven't been moved in over 2 years has also increased rapidly over the course of the bear market, reaching nearly 11.2M. ➡ As holders gear up for the bull phase of this cycle, Bitcoin's velocity will continue it's decline until the point at which we start to approach Bitcoin's previous all-time-high. ➡ We expect the velocity to increase and the number of inactive Bitcoins to decrease as Bitcoin continues it's ascent and hodlers turn into paper hands and start realizing profits.  

One month on from Ethereum's Shanghai Upgrade, we take a look at the effect the upgrade had on short sellers. Although the Shanghai/Shapella fork allowed validators to withdraw ETH that had been staked since as long ago as December 2020, buying sentiment outpaced the bears and short sellers in the days following the implementation. In fact, short liquidations had spiked by about 2,000% as ETH rose above the psychological $2,000 price to heights of around $2,120. As the law of mean reversion began to set in, ETH now continues to test the psychological $2k ceiling.  

👀 𝐈𝐬 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐫𝐞𝐚𝐥𝐥𝐲 𝐚 𝐡𝐞𝐝𝐠𝐞 𝐚𝐠𝐚𝐢𝐧𝐬𝐭 𝐭𝐡𝐞 𝐛𝐚𝐧𝐤𝐬? 💡 𝐎𝐫 𝐢𝐬 𝐢𝐭 𝐬𝐭𝐢𝐥𝐥 𝐚𝐥𝐥 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐦𝐨𝐧𝐞𝐲 𝐬𝐮𝐩𝐩𝐥𝐲? ᴀ ᴛɪᴍᴇʟɪɴᴇ ᴏꜰ ꜱᴠʙ ᴄᴏʟʟᴀᴘꜱᴇ ᴀɴᴅ ʙᴛᴄ ᴘʀɪᴄᴇ ᴀᴄᴛɪᴏɴ 1️⃣ March 8: Silicon Valley Bank announced its $1.8 billion loss on its bond portfolio, along with plans to sell both common and preferred stock to raise $2.25 billion. 2️⃣ March 9: The stock for Silicon Valley Bank’s holding company, SVB Financial Group, crashed at the market opening. Other major banks also saw their stock prices take a hit. Additionally, more SVB customers began withdrawing their money, for a total attempted withdrawals of $42 billion. 3️⃣ March 9: A few hours after the opening bell, as SVB Financial Group was crashing, Bitcoin price also started trending downwards as crypto traders began assessing the impact from the bank run and contagion from the financial fallout. 4️⃣ March 12: After a drop from nearly $22k to $19.5k, Bitcoin began trading sideways until the afternoon of March 12th. The same afternoon that a joint statement by the Treasury, Federal Reserve and FDIC was released. The statement effectively provided a bailout to the depositors and a program to protect other depository institutions, effectively resulting in more liquidity being injected into the financial system. 5️⃣ March 12: On this news, Bitcoin went on a tear from ~$20k to over $26k over the next couple of days. Bitcoin would go on to record a 9-month high of over $28k. The chart below shows Bitcoin price action in relation to events at SVB.