Welcome to the latest edition of The Satsurday Weekly, your source for Bitcoin market movements, technology advances, and sentiment. Let’s dive into the significant events and numbers that have characterized the past week.

The recent issue of ‘The Satsurday’ by AOV (Assets of Value) provides a comprehensive analysis of Bitcoin’s current market standing, offering insights into mining statistics, regulatory updates, and market behavior. Here are the key takeaways from the April 20th edition:
Miner Status Update
- Centralized Exchange (CEX) Deposits: A significant rise to Bitcoin deposits on centralized exchanges has been observed, reaching a value of 207k. This increase may be an indicator of traders preparing to sell, potentially putting downward pressure on Bitcoin prices.
- MVRV (Market Value to Realized Value) Ratio: The MVRV ratio has decreased to 2.23, suggesting a potential undervaluation of Bitcoin when comparing the market value against the realized value, signaling a possibly attractive buying opportunity for long-term investors.
- Puell Ratio: There has been a drop in the Puell Ratio to 1.67, which could imply that miners are currently more profitable and might be less likely to sell, reducing selling pressure from this part of the market.
Market Insights
- Adjusted SOPR (Spent Output Profit Ratio): This indicator has slightly decreased to 1.02. This metric suggests that more investors are selling Bitcoin at a profit, which could either indicate a healthy take-profit activity or a signal that the market is reaching a local peak.
- Exchange Inflow: The inflow to exchanges has increased from 185k to 207k. This points to a higher volume of Bitcoin being moved to exchanges for potential sale, increasing the sell pressure in the market.
- MRVR Ratio Changes: The MVRV ratio’s decrease from 2.47 to 2.23 reinforces the indication that Bitcoin may be undervalued, which could be a bullish signal for investors who believe in Bitcoin’s value over the long term.
- Puell Multiple Fluctuations: The Puell Multiple’s decrease from 1.75 to 1.67 indicates miners are finding operations more profitable, which might lead to less motivation to sell their mined Bitcoin, contributing to a more stable supply dynamic.
News, Regulations, and Adoption
- The International Monetary Fund (IMF) has recognized Bitcoin as a “necessary financial tool” for wealth preservation amid financial instability. This marks a significant acknowledgment of cryptocurrency’s growing role in the global financial system.
- Bitcoin ETFs are experiencing mixed results, with steady trading and notable inflows and outflows, reflecting a diversified market sentiment and uncertainty in short-term price movements.
- The FBI has issued a warning about Bitcoin ransomware, linking it to a substantial $42 million extortion scheme, highlighting the persistent concerns regarding cryptocurrency and cybercrime.
- CoreDAO has introduced native staking to Bitcoin, which could provide additional avenues for Bitcoin holders to earn rewards on their holdings and contribute to the network’s security.
Conclusion
‘The Satsurday’ gives a detailed view of the Bitcoin ecosystem, including indicators of potential and threats. Market participants should consider these parameters when investing in cryptocurrencies.
The market is dynamic and nuanced due to miners’ improved income, Bitcoin’s possible undervaluation, and increased selling. Investors looking to optimize their strategy amid changing market conditions must monitor these trends.
See you all in the next edition of The Satsurday
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