Coinmetrics | Bitcoin | DeFi
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Cryptoasset market and network data APIs, analytics, and research.

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#Bitcoin perpetual futures markets have largely remained in a state of negative funding rates since the sell-off from $24.5k.

This indicates that short sellers are paying an interest rate to longs to maintain their futures position.
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Elon Musk’s Dire Warning: US Economy Headed Towards Deflation
https://bit.ly/3Rx3pVN
The estimated share of #Bitcoin hashrate pointed to Poolin has declined from 12.4%, to just 4.8% of the total.

This demonstrates how #Bitcoin miners can redirect hashrate in a short timeframe, when required
#Bitcoin state of the system denotes a bearish undertone.

SBT Trend Index: 📉
SBT Risk Signal: 📈

However, the hefty traded volume and capital flowing back to #BTC should withstand further selling pressure.
#Bitcoin Long-Term Holder profitability has declined to levels last seen during the depths of the Dec 2018 bear market.

Long-Term Holders are selling $BTC at an avg loss of 42%, indicating LTH spent coins have a cost basis around $32k.
The on-chain cost basis for #Bitcoin Short-Term Holders has now crossed below that of Long-Term Holders.

This means that buyers of $BTC over the last 5-months have a superior cost basis to those who HODLed through all the volatility of the 2020-22 cycle.
$BTC ltf

Breaker tested as support and forming a bullish pattern. Expecting bullish continuation soon.
Breaking: Binance Revises Terra Classic ($LUNC) Deposits, Withdrawals Fee
https://bit.ly/3yTTzpv
Breaking: Big 4 Accounting Firm Announces Metaverse Client Experience
https://bit.ly/3Dad7ay
The #Bitcoin Hash Price has reached an all-time-low of $66,500 per Exahash.

This means that $BTC miners are earning the smallest reward relative to hashpower applied in history, and likely puts the industry under extreme income stress.
Breaking: Elon Musk’s Twitter Faces Class Action Lawsuit For Mass Layoffs
https://bit.ly/3NxjAB7
Cost Basis: Global Graph 〽️
Breaking: Binance Gets FSP License In Abu Dhabi Amid FTX Crisis
https://bit.ly/3X3FTCO
#Bitcoin miner Hash Price has plunged to a new all-time low of $58.3k per Exahash per day.

With $BTC prices now down over 76% from the peak, the mining industry remains under immense pressure.
To punctuate this point, #Bitcoin miners are currently spending at a rate of 135% of the daily issued coins.

This implies that in aggregate, miners are distributing all ~900 freshly minted $BTC, as well as an additional 315 $BTC from their treasuries each day.
225 Million XRP Moved By Whales; Price Up By 6%

https://bit.ly/3EXuDRe
Breaking: Binance Acquires Sakura Exchange BitCoin, Re-Enters Japanese Market

https://bit.ly/3Uey5eJ
NFTs on #Ethereum accounted for 18% to 22% of transactions during H1-2022.

However NFT dominance has since declined to just 8.3%, as interest in the space wanes during the bear market.

Stablecoin dominance has spiked since FTX from 10% to 12.5%.
Breaking: Kazakhstan Passes Stringent Crypto And Mining Bills

https://bit.ly/3VZwP0i