RECAP: HARDNESS

Bitcoin's Supply Squeeze: Unprecedented Hardness!

NUGGETS OF ALPHA

• Only 14% of BTC holders are short-term

• The amount of addresses holding at least 10 BTC has passed its all-time high

• Per stock-to-flow, Bitcoin should be valued at $51,692

• BTC/TLT is +112% YTD, trading at the highest level since April 2022

• Bitcoin is the New “Schelling Point” for money

• Gold has been a loser if you factor in the loss of USD purchasing power over the last twelve years

• Fidelity's recent report implies that Bitcoin will be around for the next 100 years.

• Only 2.3M BTC left to buy, which makes it one of the scarcest assets in the world

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Crypto Market Overview:

• The global crypto market cap is $1.12 trillion, with a 24-hour volume of $52 billion

• The price of Bitcoin is $29,650, and BTC dominance is up as the "cream floats to the top"

• The price of Ethereum is back above $1,600

• The Crypto Fear & Greed Index is currently 53

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This is a Bitcoin story analyzing: 

• Bitcoin hardness

• Supply crunch

• Illiquid supply

• Bitcoin scarcity

• Deflation matching Inflation

• Narratives & Game Theory

• Selling points

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Now, at Week 41, we have entered the