BTC- Quick fundamental, derivative and on-chain recap

14 ธ.ค. 2020

*The STABLE Act bill, if passed, would require stable coin issuers to comply with Federal reserve and a banking license registration and to follow the same level of regulatory requirements as banks. Similar sentiment is echoed by G7 officials.

*Buy bitcoin google search has recently reached a level not seen since early 2018

*Coinbase's web traffic recently surged to the highest level not seen since April 2019


*Global bitcoin options OI hit another all-time-high recently

*Future traders on Binance are bullish on BTC, but future traders on Bitmex, Okex and Huobi seem to be bearish on BTC

*BTC options expiry on Dec. 25th will be the largest expiry in USD terms

*DEC. CME COT report on BTC indicates that whales' net short has reached all-time high

*BTC 3 month realized volatility is slowly ticking up


*Total DeFi unique addresses have recently surpassed 1 million mark

*SOPR (Spent Output Profit Ratio), Coin Days Destroyed (CDD) and BTC MPI (Miners' Position Index) indicate that the short-term correction is coming while realized price & realized market cap indicate that overall BTC price is in a healthy trend.


I expect the short-term correction to end around 16k or 13k. Historically, BTC has a mixed Q4 performance, but typically performs poorly in Q1 so we could be expecting a slow correction process that may not end until January next year.