Bitcoin Marketcap

$1.72T

Gold Marketcap

$20.86T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

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KEY MARKETS

24hr change

Bitcoin

$91,250  📈

+$3,228

+3.67%


S&P 500

5,259  📈

+111.22

+2.16%


Gold

$3,425  📈

+$10.24

+0.30%


Silver

$32.91  📈

+$0.12

+0.36%


Euro

$1.1463  📈

+$0.01

+0.79%


Yen

¥140.87  📉

-¥1.51

-1.06%


Renminbi (CNY)

¥7.3650   

+¥0.06

+0.77%


Oil (WTI)

$63.28  📈

+$0.90

+1.44%


BITCOIN STATS

Bitcoin Marketcap

$1.72T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$22.85B


Active Addresses

1.02M


Mining Reward Value (24hr)

$83.0M


GBTC Premium

200.86%


MSTR Premium

-80.49%


BTC Down From ATH

16.33%


BTC Up From Cycle Low

22.48%


RATES & YIELDS

24hr change

UST 3mo

4.34%  📈

+0.01

+0.23%


UST 2yr

3.81%  📈

+0.04

+1.06%


UST 10yr

4.34%  📈

+0.05

+1.17%


UST 30yr

4.80%  📈

+0.06

+1.27%


Fed Funds (EFFR)

4.33%  📈

+0

0%


US 10yr Breakeven Inflation

2.22%  📉

-0.01

-0.45%


Real Rate (10yr)

2.12%  📈

+0.06

+2.91%


RATIOS

24hr change

Gold:BTC (marketcap)

12.07x   

-0.41

-3.3%


M2:BTC (marketcap)

12.58x   

-0.42

-3.2%


BTC:Oil (price)

1,441x   

+28.66

+2.03%


Gold:Oil (price)

54.21x   

-0.56

-1.02%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$6.73T  📉

 

-0.43%


M1 Money Supply

$18.53T  📈

+$75.40B

+0.41%


M2 Money Supply

$21.67T  📈

+$110B

+0.51%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+36%

+47%

+3%

2 year:

+229%

+73%

+27%

3 year:

+130%

+75%

+22%

4 year:

+76%

+93%

+26%

5 year:

+1,105%

+96%

+86%

6 year:

+1,552%

+169%

+79%

7 year:

+881%

+158%

+99%

8 year:

+7,168%

+169%

+120%

9 year:

+19,548%

+180%

+151%

10 year:

+39,581%

+189%

+148%

11 year:

+19,482%

+164%

+180%

12 year:

+60,848%

+135%

+232%

13 year:

+1.8 million%

+108%

+276%

14 year:

+4.9 million%

+128%

+288%

https://casebitcoin.com

Data Source: Messari.io, bitcoincharts.com

What is it: This shows bitcoin's ROI vs other potential inflation hedge assets.

Why it matters: As with the historical bitcoin price table, we see bitcoin's extreme outperformance vs other assets here as well. Bitcoin's relatively small size, plus fundamental properties, yield extreme outperformance when even relatively small funds-flows find their way to BTC.

BTC DAYS ABOVE PRICE

Bitcoin Price Closing History by Level

Days Bitcoin Closed Above:

Price

Days Above

% of Bitcoin's Life

$100,000

29

0.49%

$91,250

86

1.44%

$90,000

91

1.53%

$80,000

145

2.44%

$50,000

559

9.39%

Data Sources: Messari.io, bitcoincharts.com

What is it: This the number of days in which bitcoin "closed" (trading level at midnight UTC) above various price levels.

Why it matters: This can give a sense of where bitcoin is currently trading relative to past cycles.

SHARPE 5yr

sharpe 5yr

DOUBLING TIME

doubling time

Bitcoin On-Chain Indicators Primer


CoinMetrics   -  4 years ago

 

CoinMetrics' latest newsletter explores and explains various on-chain metrics that can be used to gauge bitcoin's fundamentals.

story image


As a timely example of how to use these metrics, Glassnode CTO Rafael Schultze-Kraft tweeted a thread looking at various on-chain metrics for bitcoin, and where they sit currently compared to the peak of bitcoin's 2017 run from ~$1000 to ~$20,000.

story image

tldr

  • Due to the distributed and open nature of bitcoin's blockchain, many novel economic indicators can be created that simply don't exist in legacy financial systems.
  • CoinMetrics' and Glassnode are leaders in the on-chain analytics realm, and it pays to stay abreast of their data and insights.
  • According to these metrics, fundamental activity has a long way to run and is not currently indicating an overheated long-term top.

Submitted by: Roy Young

Are we missing a recent story that makes the case for bitcoin?

Tell us about it!

THE INVESTMENT CASE FOR BITCOIN

All you need to read to understand the investment case for bitcoin.

Bitcoin reminds me of gold when I first got into the business in 1976

- Paul Tudor Jones, Hedge Fund Manager

Frankly, if the gold bet works, the bitcoin bet will probably work better

- Stanley Druckenmiller - hedge fund manager

Bitcoin is a technological tour de force

- Bill Gates, Founder - Microsoft

[people] use [bitcoin] more as an alternative to gold. It’s a speculative store of value.

- Jerome Powell, Federal Reserve Chairman

There are 3 eras of currency: commodity based, politically based, and now, math based.

- Chris Dixon - Tech Investor, A16Z

Bitcoin may be the TCP/IP of money.

- Paul Buchheit - Gmail Creator

If they become widely accepted, virtual currencies could have a substitution effect on central bank money.

- European Central Bank - 2012

Bitcoin is Gold 2.0, a huge, huge deal.

- Chamath Palihapitiya - Founder & CEO Social Capital

I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what’s like it

- Bill Miller - Former Chainman & CIO, Legg Mason Capital

Bitcoin is money, everything else is credit.

- JP Morgan - 1912

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