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: 233k BTC
- MVRV Ratio: 1.87 (Increase)
- Puell Ratio: 0.66 (Decrease)
Insights
- aSOPR is down to 1.00, indicating that more investors are selling at a profit.
- Exchange Inflow decreased from 250k to 233k BTC, suggesting lower exchange deposits, which could add to buy pressure.
- MVRV Ratio increased from 1.85 to 1.87, indicating a relative overvaluation of Bitcoin.
- Puell Multiple decreased from 0.67 to 0.66, indicating higher profitability for miners.
News | Regulations | Adoption
- Animoca Brands Launches Validator on Bitcoin L1 Core to Boost SecurityAnimoca Brands has taken a significant step to enhance Bitcoin’s security by launching a validator on the Bitcoin Layer 1 Core. This move aims to bolster the network’s robustness and reliability, ensuring a more secure transaction environment.
- El Salvador Grows Bitcoin Vault Whilst Germany Continues Offloading Its BTC ReservesEl Salvador continues to expand its Bitcoin holdings, reinforcing its commitment to the cryptocurrency. In contrast, Germany is offloading its BTC reserves, showcasing differing national strategies towards Bitcoin investment.
- Bitcoin Scaling Network Stacks Avoids Charges as SEC Closes InvestigationThe SEC has closed its investigation into the Bitcoin scaling network Stacks without filing any charges. This outcome is a positive development for Stacks, as it can continue its operations without legal hurdles.
- UK Regulatory Authority Warns the Public Against Solicitor Bitcoin ScamThe UK regulatory authority has issued a public warning regarding a Bitcoin scam involving solicitors. This caution is part of ongoing efforts to protect the public from fraudulent schemes in the cryptocurrency space.
Conclusion
Stay informed and vigilant as the cryptocurrency landscape continues to evolve. For more in-depth analysis and updates, follow us on social media and join our community channels.
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