NUGGETS OF ALPHA
Declining sentiment is being fueled by seasonality and the FTX liquidations
Potential sales from Mt. Gox's trustees and U.S. Silk Road Bitcoins are concerning
Stablecoins have experienced a persistent decline in supply since April 2022
USDT presently makes up 69% of the stablecoin market cap
The Grayscale discounts continue to fall for GBTC & ETHE
Tesla is growing at a pace of 134% year-over-year in Europe
Germany moved from a 19% BEV share in July to 31% in August
XLE is outperforming oil
26.7% of the BTC long-term holders are in a loss even at today's price of ~$26,100
Bitcoin miners are losing around $10,000 per Bitcoin mined on average
Fear & Greed Index is down at 30 in the extreme fear territory
David Marcus knows payment systems, and as he was speaking, he made the following remarks: "What we're trying to do is turn Bitcoin into a real global payment network… we're still in the fax era of global payments, and that's what we're attempting to solve."
Marcus emphasized throughout the interview that most popular payment services do not fully support international transactions or cross-application transactions. By contrast, he suggested that many other online services, such as texting, emailing, and video conferencing, can be accessed by their users almost universally.
In September, BTC experienced
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