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US Spot ETFs hold 4.6% of #
Bitcoin
supply, valued at $58B. Recent balance growth includes Grayscale's Bitcoin Mini Trust holdings, highlighting the strong institutional demand for regulated BTC exposure.
#BTC
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#Chainlink's token $LINK has hit its highest price in nearly 2 years, and Futures Open Interest (OI) just surged to an all-time high of $770.27M! For context: 🔸 $LINK OI: $770M 🔸 $TON OI: $259M 🔸 $TRX OI: $356M #LINK's OI is 3x TON & 2x TRX, signaling massive trading activity. See the Futures Open Interest chart here:
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#Bitcoin crossing $100K is a monumental milestone in its evolution into a global financial force. This week's edition of Glassnode's Week On-Chain newsletter tells the fascinating story of this journey through the lens of #onchain data:
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With distribution accelerating over the past 30 days, #HODL-ing #BTC is no longer the default behaviour of market participants as a whole. The Long/Short-Term Holder Supply Ratio has dropped to 3.78, which is the lowest it's been this cycle. See the chart here:
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Here's how #Bitcoin’s ROI since cycle low compares to the last two cycles so far: - 2015-2018: 5.90x - 2018-2022: 10.47x - 2022+ (current cycle): 5.98x This cycle is 26.94% below the average of the last two cycles (8.18x). View the chart: https://glassno.de/4gkViHW
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Cyclical long-term holders, excluding the ultra long-term holders (>7y), now hold less than 50% of #Bitcoin’s supply, down from over 60% earlier this year. How much runway remains? Realized Cap HODL Waves provide the granularity needed to assess where we are in the cycle:
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