In this short article we will be discussing the Bitcoin Hash Ribbon. This metric is specifically good at identifying great buying opportunities after large drawdowns in the Bitcoin price. It tracks miner capitulation as mining becomes unprofitable overall. Hash Ribbon uses a 30 day and 60 day moving average for the Bitcoin hash rate. When … Read more
We have observed a handful of metrics that have been reliable to identify tops and bottoms in Bitcoin Cycles. The Puell Multiple can be added to that list. Using The Puell Multiple, we can analyze the supply side, Bitcoin issuance. Everyday new Bitcoins are being released onto the network via mining. Those Bitcoins are first … Read more
In a previous article on Reserve Risk, we spoke about Bitcoin Days Destroyed (also known as Coin Days Destroyed). Bitcoin Days Destroyed (BDD) is the amount of days erased from a UTXO once that Bitcoin has been moved to another address. Coins that have been in the same address for a long period of time and … Read more
Following up on our last article on MVRV, today we will talk about another top indicator. The Pi Cycle Top Indicator was created by Philip Swift. It’s a very simple indicator to use and has been reliable in picking out market cycle tops within only a few days. The indicator uses an 111 day moving average and … Read more
If you’re a frequent reader of this blog then you’re already familiar with Realized Cap. If you’re new then I suggest reading our article on Realized Cap. I will give a brief description in order to better explain MVRV. When calculating the value of a market like Bitcoin, most investors will use Market Cap which … Read more
Recently, we have written about short-term holders vs long-term holders. Also, we discussed Realized Cap. Both of these variables play into todays metric called Realized HODL Ratio. Through our research writing this blog we have found that price appreciation in Bitcoin bull markets coincides with short-term holders entering the market and taking majority share of … Read more
In previous articles we spoke about how short-term holders can take over a larger portion of on-chain activity compared to long-term holders later in cycles. Another metric that showcases this further is the Bitcoin balance held on Binance addresses compared to Coinbase addresses. Binance is known to be a crypto exchange mainly for retail investors … Read more
In this article, I will focus on two charts. As this market cycle gets more volatile, finding a market top or close too is becoming extremely important. Every Bitcoin bull cycle consists of local tops and a global top. Local tops are short-term tops before a larger pullback, followed by another price uptrend. During previous … Read more
Stablecoins have been a hot topic as of late, particularly USDT. If you’re not familiar, a stablecoin is a cryptocurrency that pairs to a fiat currency, usually 1:1 or close to it. For example, USDT is meant to act as the USD in the cryptocurrency world. 1 USDT is equal to 1 USD. Stablecoins were … Read more
We have talked a lot about miners on the Bitcoin Network. After all, they’re one of the core contributors to Bitcoin’s success. The Bitcoin blockchain could not function without all the nodes and miners around the world. This is why the genius economics behind Bitcoin is so important. Efficient miners are constantly rewarded. During times … Read more
