Willy Woo, on-chain Bitcoin analyst and writer of the Bitcoin Forecast, a market intelligence newsletter, and Rafael Schultze-Kraft, co-founder and CTO of Glassnode, discuss Bitcoin and what the on-chain metrics tell us about the price. Here to discuss is. Episode highlights:
what factors pushed the price of BTC down in May
why Elon’s Twitter account hold so much sway over the market
why Willy believes Bitcoin is good for renewable energy
who sold during the last month
which type of BTC investors stopped purchasing in Feb/March
what trends Willy and Rafael have noticed from coins moving to/from exchanges
their thoughts on exchange-traded products, like GBTC and Canadian ETFs
how derivatives trading has played a role in Bitcoin’s price
why stablecoins were trading above their peg in the months leading up to the Coinbase direct listing
how Willy values Bitcoin (specifically using NVT ratio)
whether the trend of corporate treasuries investing in Bitcoin will continue
how they expect Ethereum's adoption of a deflationary monetary policy to impact the price of Bitcoin
when the market could turn bullish once again and predictions for the rest of the year
 
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Episode Links
 
Willy Woo
Twitter: https://twitter.com/woonomic

Substack: https://willywoo.substack.com/

Charts: http://charts.woobull.com/ 
 
Rafael Schultze-Kraft
Twitter: https://twitter.com/n3ocortex 
Glassnode Blog: https://insights.glassnode.com/author/rafael/

Medium (no posts in 2021): https://medium.com/@neocortex 
 
Glassnode
Website: https://glassnode.com/ 
Twitter: https://twitter.com/glassnode 
Crunchbase: https://www.crunchbase.com/organization/glassnode 
 
Willy on BTC trends:
NVT 2021 re-hash: https://twitter.com/woonomic/status/1399644889596370950 
User growth on BTC network: https://twitter.com/woonomic/status/1396716391940575232 
Exchange flows are bullish: https://twitter.com/woonomic/status/1395350421187690500 
The movement to strong holders is unprecedented: https://twitter.com/woonomic/status/1391209800252358658 
BTC undervaluation: https://twitter.com/woonomic/status/1389145220432859144 
 
Rafael on BTC trends:
Investors becoming fearful: https://twitter.com/n3ocortex/status/1394922200923312132

Bear market?: https://twitter.com/n3ocortex/status/1394312942678679559

Why on-chain exchange metrics are difficult to analyze: https://insights.glassnode.com/exchange-metrics/ 
BTC ownership is not highly concentrated: https://insights.glassnode.com/bitcoin-supply-distribution/ 
BTC illiquidity: https://insights.glassnode.com/bitcoin-liquid-supply/ 
 
Glassnode on BTC trends:
May 31 recap: https://insights.glassnode.com/the-week-on-chain-week-22-2021/ 
May 24 recap: https://insights.glassnode.com/the-week-on-chain-week-21-2021/ 
December buyers approaching cost basis: https://twitter.com/glassnode/status/1399757635512066052 
Battle of Bulls vs. Bears: https://twitter.com/glassnode/status/1399231089764360192 
Grayscale discount: https://twitter.com/glassnode/status/1397059742019686400

Deleveraging futures market: https://twitter.com/glassnode/status/1395771367958581251
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