The bitcoin market reacted to comments by Federal Reserve Chairman Jerome Powell about the rising risk of persistently high inflation.The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.In the Daily Dive #102, we highlighted the rising DXY (U.S. Dollar Currency Index) in 2021 and the negative impact it can have on bitcoin’s price. Today, with Federal Reserve Board Chair, Jerome Powell, talking about the rising risk of persistently high inflation in the United States and a potential accelerated taper, DXY, SPX and bitcoin markets immediately reacted. The DXY jumped over 1% with both the S&P 500 … [Read More...]
Turkey Day is Behind Us
FEEDIf you, as a U.S. citizen, would like to saunter into a country and have incredible buying power (even with the otherwise worthless paper fiat in your pocket), you could do a lot worse than popping into Istanbul and buying anything you see. The US Dollar can gobble up Turkish Liras like never before. [Read More...]
Choices For Next High
FEEDAs I was saying in my last post on Monday, the all time high on SPX a few days before was at an impressive 5.54% over the 45dma and, excluding the spike up after the low last year, was one of the highest against the 45dma in the last decade. This is a good indicationRead More 0 Comments [Read More...]
What SOPR Can Tell Us About Bitcoin Market Sentiment
A key indicator to track on-chain bitcoin spending behavior and current market sentiment is the Spent Output Profit Ratio (SOPR).The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.A key indicator to track on-chain spending behavior and current market sentiment is the Spent Output Profit Ratio (SOPR). SOPR is calculated by dividing the realized value of a spent output (in USD) by the value at creation of the original. Simply put, it’s calculating the price sold over price paid for every UTXO that moves on-chain. The best place to read more on SOPR is … [Read More...]