The Satsurday: Weekly Bitcoin Pulse

Welcome to The Satsurday, your go-to source for the latest in Bitcoin and cryptocurrency news , regulations, and adoption. This week, we delve into key metrics influencing Bitcoin’s market, along with notable regulatory updates and adoption news.

Miner Status

  • CEX Deposits: ₿223k
    A decrease in exchange inflow, down from 274k to 223k, is contributing to lower selling pressure as investors opt to hold rather than sell.
  • MVRV Ratio: 1.92
    The MVRV (Market Value to Realized Value) ratio has risen from 1.84 to 1.92, indicating a relative overvaluation of Bitcoin. This uptick suggests that investors are realizing more gains, which could lead to increased selling pressure if the trend continues.
  • Puell Ratio: 0.92
    The Puell Ratio, which measures the profitability of miners, has also seen an increase from 0.75 to 0.92. This rise suggests that miners are currently seeing higher profitability, which could influence their decision to sell mined Bitcoin.

News | Regulations | Adoption

  • El Salvador Launches Bitcoin Certifications for Civil Servants
    In a move to deepen Bitcoin adoption, El Salvador has introduced a certification program aimed at educating civil servants on Bitcoin. This initiative is part of the country’s ongoing efforts to integrate cryptocurrency into its financial system.
  • Spot Bitcoin ETFs See $65 Million in Net Inflows
    The continued interest in Bitcoin is evident as spot Bitcoin ETFs have garnered $65 million in net inflows. This trend showcases growing confidence among institutional investors in Bitcoin’s long-term potential.
  • Bitcoin Restaking Platform SatLayer Raises $8 Million in Pre-Seed Funding
    SatLayer, a new platform focused on Bitcoin restaking, has successfully raised $8 million in pre-seed funding. This funding will be used to develop its platform further and expand its market reach.
  • Theya Introduces Direct-to-Wallet Bitcoin Purchases for US Users
    Theya, a leading cryptocurrency platform, has introduced a new feature allowing US users to purchase Bitcoin directly to their wallets. This innovation is expected to simplify the purchasing process and enhance security.
  • Bitcoin Transaction Fees Surge 10x Amid Network Demand Spike
    As network demand surges, Bitcoin transaction fees have seen a tenfold increase. This spike in fees reflects heightened activity on the Bitcoin network, likely driven by increased trading and transaction volume.

Insights

  • aSOPR Rises to 1.01
    The Adjusted Spent Output Profit Ratio (aSOPR) has risen to 1.01, indicating that more investors are currently selling at a loss. This could suggest increased selling pressure in the market as participants attempt to cut their losses.
  • Exchange Inflow Decreased
    The decrease in exchange inflow, from 274k to 223k, is an important indicator of lower exchange deposits, suggesting that investors are less inclined to sell their holdings, thereby adding to buying pressure.
  • MVRV Ratio
    The MVRV ratio’s increase from 1.84 to 1.92 highlights the relative overvaluation of Bitcoin at the moment. Investors should remain cautious as this could indicate a potential correction if overvaluation persists.
  • Puell Multiple
    The Puell Multiple’s rise from 0.75 to 0.92 points to improved profitability for miners. This could lead to increased selling from miners, which may impact the supply dynamics in the Bitcoin market.

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