Day: February 5, 2024

Breaking Free: A Bitcoiner’s Analysis of the Bullish Breakout in the CDD Metric

Max Milan

Greetings fellow bitcoin enthusiasts! It seems like we might just be on the cusp of another exciting chapter in the world of bitcoin as the Binary Coin Days Destroyed (CDD) indicator breaks out of its accumulation zone. According to recent on-chain data, this development could potentially signal the return of a powerful rally for our beloved cryptoasset. For those unfamiliar with the concept, ‘coin days’ refer to the amount of time a single bitcoin remains untouched within the blockchain. Once moved, these so-called ‘coin days’ cease to exist; hence, the…

The Bitcoin ETF Race: A Tug-of-War Between Inflows and Outflows

Max Milan

Grayscale Bitcoin Trust (GBTC), which began January 2021 with a holding of 619,000 $BTC, has seen a decrease to 478,000 BTC as of now. While Grayscale holdings dwindle, financial giants Blackrock and Fidelity have stepped into the scene, acquiring a staggering 134,357 BTC ($5.7 billion) for their respective Spot Bitcoin ETFs. This sudden increase raises questions about whether everyday crypto enthusiasts will even have access to Bitcoin if large institutions snap it all up! Let us take a closer look at the state of the ETF race using 3 revealing…