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.

Miner Status
- CEX Deposits: ₿250k
- MVRV Ratio: 1.85
- Puell Ratio: 0.67
News | Regulations | Adoption
- Bitcoin Core devs Set up New Policy Aimed at Handling ‘Critical Bugs’: The development team behind Bitcoin Core has implemented a new policy to address critical bugs more efficiently. This move aims to enhance the security and stability of the Bitcoin network.
- QED Protocol Raises $6 Million for Scaling With Bitcoin-powered Tech: In a significant boost for Bitcoin scalability solutions, QED Protocol has secured $6 million in funding. This capital will be used to develop advanced scaling technologies that leverage Bitcoin’s robust infrastructure.
- Mt Gox Initiates Bitcoin Repayments to Creditors: The long-awaited repayment process for Mt Gox creditors has begun. This development marks a crucial step in resolving one of the largest cryptocurrency exchange collapses in history.
- Binance Labs Leads Major Funding Round for Bitcoin Wallet UniSat: Binance Labs has spearheaded a major funding round for UniSat, a Bitcoin wallet provider. This investment aims to support the growth and development of UniSat’s wallet solutions.
Insights
- aSOPR (Adjusted SOPR): The adjusted SOPR has decreased to 1.01, indicating that more investors are selling their Bitcoin at a profit. This metric is a key indicator of investor sentiment and market behavior.
- Exchange Inflow: The exchange inflow has increased from 196k to 250k, suggesting a rise in Bitcoin deposits to exchanges. This trend could lead to increased selling pressure in the market.
- MVRV Ratio: The MVRV ratio has decreased from 2.01 to 1.85, indicating a relative undervaluation of Bitcoin. The MVRV ratio is used to assess whether Bitcoin is overvalued or undervalued relative to its historical price.
- Puell Ratio: The Puell multiple has increased from 0.66 to 0.67, reflecting lower profitability for miners. The Puell ratio is a measure of the market’s health from the miners’ perspective, considering the daily issuance of Bitcoin in relation to its historical issuance levels.
Conclusion
The latest data from the Bitcoin market shows mixed signals. While investor profit-taking is on the rise, leading to increased exchange inflows, the overall market valuation suggests a potential undervaluation. Miners face lower profitability, which could impact their operations and future supply dynamics.
For more in-depth analysis, stay tuned for the next edition of The Satsurday.
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