HomeGeneral knowlegdeCryptocurrencyOn-chain data information week 40, 2022

On-chain data information week 40, 2022

Based on the analysis, On-chain data collection for 40 weeks (October 03 - October 10). BTA sends everyone some interesting data in the On-chain week 09 newsletter.

BTC accumulation hits 7-year high

The number of Bitcoins over 6 months old now accounts for 74% Realized Cap (actual capitalization). It was 70% and 77% respectively at the last lows in 2019 and 2015.

Xem Realized-Cap details at: Link

Institutional investors have yet to buy back BTC

First of all, Index Coinbase Premium Index is a good indicator for US Instruments investors to check buying and selling levels.

Bitcoin: Coinbase Premium Index

Although the data shows positive numbers, there is no clear change from the previous June…

Second, Index Fund Volume Index has been falling since the dumping in June and there is no special signal yet…

Bitcoin: Fund Volume

If the price rises and institutional investors do not buy before the FOMC announces the rate in November, there is a possibility that there will be a market decline.

Large amount of BTC withdrawn from exchanges in the past week

In the past week, BTC price has had a slight correction to ~$19000, then a large amount of BTC has been withdrawn from the exchange. According to statistics in the past week from October 03 – October 10, the amount of BTC withdrawn from exchanges ~09 BTC.

Bitcoin: Exchange Netflow 

For the first time in this cycle, supply loss ratio up to 50%

Based on the analysis, the lowest lows of the previous cycles always occur when the supply loss rate reaches 50% or more. 

We have now recorded peak loss percentages of 52% on daily data, 50,4% on weekly data (7DMA) and 48% on monthly data (30DMA). 

During the third quarter, it was clear that Bitcoin held on very firmly while the S&P 500, Nasdaq100 or traditional safe-havens like bonds and gold all fell sharply in the past quarter. Whether a rally can be expected in the next three months of the year, we need to wait and see the accompanying macroeconomic developments.

See details: For the first time in this cycle, supply loss ratio up to 50%

BTC price is close to the estimated participation price of Coinbase institutional investors

Specifically, the current BTC price is close to the estimated participation price of institutional investors who have been using Coinbase's services such as brokerage, custody, etc. If we have faith that institutions will promote pushing this market, then this indicator might be suitable for consideration.

Summary

In the context that the current market is being greatly affected by macroeconomic developments and the inflation rate is still high, with no signs of decline, BTC price is unlikely to have strong growth momentum in the short term. term.

Hopefully, BTA's article will help everyone get more useful information and don't forget to continue to follow BTA's next articles!

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