During September, long-term holders of bitcoin accounted for ~76% of circulating supply

1} Long term holders mean that folks want to hold onto Bitcoin for a longer term

HODLing is an essential element to understand Bitcoin adoption as it means that more and more people and institutions see Bitcoin as a store of value and are not willing to sell it.

There’s a simple reasoning for that, its fixed supply of 21 million, you can never create more of this asset, no matter what you do. Despite extreme market fear fueled by the collapse of several major crypto entities, on-chain data suggest that bitcoin holders remained focused on long-term fundamentals

2} On-Chain Activity Remains Net Positive

Mining difficulty has increased compared to last year with more institutions and organizations looking to join the Bitcoin network

Miner revenue has increased backed by increase in Bitcoin price, there are US miners like Marathon that have IPOed as well and have been doing well

Active owners show a positive rise cementing Bitcoin adoption narrative but the transaction volumes have been low this month which is expected given the macro headwinds

Holding behavior has been super bullish with long term holders increasing (I am one of them now) and illiquid supply too (Think of it this way, illiquidity means less real estate to buy but when people come to grapple for the limited resources)

3} There are 5 broad metrics to gauge how Bitcoin is doing going forward

1. Activity on chain

2. Miner activity

3. Hah Rate

4. Energy Prices

5. Lightening adoption

I personally like to track these metrics which give me an idea of how Bitcoin as a network is doing (Adoption and Activity primarily). You can also do the same. These metrics can be found on platforms like Glassnode. Monitoring these gives me quantitative measure of what key decisions to take from investing in BTC point of view. But that’s just me, at the end of the day….

Choice is your to make!!

The global cryptocurrency market cap today: $1.3 Trillion

Daily change: 7.18% | Yearly change: 33.52% 

Bitcoin (BTC) is the largest cryptocurrency with a market cap of $663 Billion.

Weekly change: 19.69% | YTD change: 104.66%

Another important metric is Bitcoin dominance which can be used as a rough indicator of the relative strength of Bitcoin versus other cryptocurrencies. A high Bitcoin dominance means that Bitcoin has a large market share and is potentially more influential in the overall cryptocurrency market and vice-versa.

Bitcoin dominance: Current Year: 51.55% | Last year (Oct 2022): 38.91%

The market sentiment has gone back to greed levels with Bitcoin touching $35k this week

Note: The data used is based on metrics like Volatility, Surveys, Bitcoin Dominance, Social and Google Trends. Source: Coinstats

Let's have a look at Ethereum supply changes post its merge to a PoS blockchain from PoW.

The significance of the chart - understand how the supply of Ethereum is decreasing post the merge, which means “deflationary economics” for the Blockchain

Supply change since merge POS -254,704 ETH

The graph highlights POS issuance since the merge. Impressive numbers, look super bullish for ETH long term given the supply of ETH is not growing as before

Bitcoin in ‘Anti-Gravity’ Phase as ETF Approval Nears Finish Line As bitcoin pushes 12% during Asia trading, there are parallels to the first Gold ETF and beyond, industry stakeholders and analysts said..

How Bhutan Became a Carbon-Neutral Hub For Crypto Mining Bitdeer’s new 100 MW facility is the first phase of the company's Bhutan project for the small, mountainous nation.

And now the funny part,

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research