Will Bitcoin's Price Go Up Again? Yes, According to On-Chain Analytics - Ep.244
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Willy Woo, on-chain Bitcoin analyst and writer of the Bitcoin Forecast, a market intelligence newsletter, and Rafael Schultze-Kraft, co-founder and CTO of Glassnode, discuss Bitcoin and what the on-chain metrics tell us about the price. Here to discuss is. Episode highlights:

• what factors pushed the price of BTC down in May
• why Elon’s Twitter account hold so much sway over the market
• why Willy believes Bitcoin is good for renewable energy
• who sold during the last month
• which type of BTC investors stopped purchasing in Feb/March
• what trends Willy and Rafael have noticed from coins moving to/from exchanges
• their thoughts on exchange-traded products, like GBTC and Canadian ETFs
• how derivatives trading has played a role in Bitcoin’s price
• why stablecoins were trading above their peg in the months leading up to the Coinbase direct listing
• how Willy values Bitcoin (specifically using NVT ratio)
• whether the trend of corporate treasuries investing in Bitcoin will continue
• how they expect Ethereum's adoption of a deflationary monetary policy to impact the price of Bitcoin
• when the market could turn bullish once again and predictions for the rest of the year

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Episode Links

Willy Woo

• Twitter: https://twitter.com/woonomic)

• Substack: https://willywoo.substack.com/)

• Charts: http://charts.woobull.com/)

Rafael Schultze-Kraft

• Twitter: https://twitter.com/n3ocortex) 

• Glassnode Blog: https://insights.glassnode.com/author/rafael/)

• Medium (no posts in 2021): https://medium.com/@neocortex)

Glassnode

• Website: https://glassnode.com/) 
• Twitter: https://twitter.com/glassnode) 
• Crunchbase: https://www.crunchbase.com/organization/glassnode)

Willy on BTC trends:

• NVT 2021 re-hash: https://twitter.com/woonomic/status/1399644889596370950) 
• User growth on BTC network: https://twitter.com/woonomic/status/1396716391940575232) 
• Exchange flows are bullish: https://twitter.com/woonomic/status/1395350421187690500) 
• The movement to strong holders is unprecedented: https://twitter.com/woonomic/status/1391209800252358658) 
• BTC undervaluation: https://twitter.com/woonomic/status/1389145220432859144)

Rafael on BTC trends:

• Investors becoming fearful: https://twitter.com/n3ocortex/status/1394922200923312132)

• Bear market?: https://twitter.com/n3ocortex/status/1394312942678679559)

• Why on-chain exchange metrics are difficult to analyze: https://insights.glassnode.com/exchange-metrics/) 

• BTC ownership is not highly concentrated: https://insights.glassnode.com/bitcoin-supply-distribution/) 

• BTC illiquidity: https://insights.glassnode.com/bitcoin-liquid-supply/)

Glassnode on BTC trends:

• May 31 recap: https://insights.glassnode.com/the-week-on-chain-week-22-2021/) 
• May 24 recap: https://insights.glassnode.com/the-week-on-chain-week-21-2021/) 
• December buyers approaching cost basis: https://twitter.com/glassnode/status/1399757635512066052) 
• Battle of Bulls vs. Bears: https://twitter.com/glassnode/status/1399231089764360192) 
• Grayscale discount: https://twitter.com/glassnode/status/1397059742019686400)

Deleveraging futures market: https://twitter.com/glassnode/status/1395771367958581251)

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