NUGGETS OF ALPHA
The Bitcoin Number of Addresses Holding 10+ Coins reached a 3-year high
The % of BTC supply held by entities with less than 10 BTC is growing fast
Ex-SEC chair Jay Clayton says approval of a spot BTC ETF is 'inevitable'
Vitalik Buterin sold ~$581,000 MKR after MakerDAO Founder praises Solana
Chinese court contradicts government's stance on virtual currencies, declares them to be legal property
Battery-electric vehicles are exploding in popularity in China and worldwide
Historically, the FOMC is done hiking once the unemployment rate starts
U.S. is spending $1T in interest on debt as the tax revenue continues to drop
Oil is up 18% year to date
August is normally not a good month, but August 2023 was better than expected. September typically can be nasty – you have to be ready to pop with those rifles as we go. Rektember leads us to Uptober, which is something to look forward to.
Let's review the IA Layer In, Layer Out model related to Bitcoin, as we are just above the 25,751 layer. What used to be the support of $27,500 could become resistance. I expect us to chop around in this area in the coming weeks.
The Bitcoin Number of Addresses Holding 10+ Coins just reached a 3-year high of 157,324, and it is growing fast. Of course, many of these people have multiple wallets.
The miner outflows are running at about
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