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.
As we navigate the ever-evolving landscape of the Bitcoin market, today’s edition of “The Satsurday” brings you the latest insights and developments. With key metrics, news, and regulatory updates, let’s dive into the details shaping the Bitcoin ecosystem.
Miner Status
- CEX Deposits: ₿250k
- MVRV Ratio: 2.07 (indicating relative overvaluation of BTC)
- Puell Ratio: 0.67 (indicating lower profitability for miners)
Insights
- aSOPR Rises to 1.03: This metric suggests that more investors are currently selling at a loss.
- Exchange Inflow Increased: The inflow to exchanges has risen from 233K to 250K, pointing to higher exchange deposits and increased sell pressure.
- MVRV Ratio: The MVRV Ratio has increased from 1.87 to 2.07, indicating a relative overvaluation of Bitcoin.
- Puell Multiple: The Puell Multiple has slightly increased from 0.66 to 0.67, signaling lower profitability for miners.
News | Regulations | Adoption
- Bitcoin ETFs See Massive Inflows: Bitcoin ETFs have accumulated over $1 billion in inflows since June, showcasing growing institutional interest.
- Botanix Labs’ New Bitcoin L2: Botanix Labs has partnered with Ankr and Asphere to create a new Bitcoin Layer 2 solution.
- UK’s Bitcoin Strategy: The UK has been advised to “rebuild Britain” with a $5 billion Bitcoin trove, aiming to leverage cryptocurrency for economic revitalization.
- Putin’s Warning on Power Shortages: Russian President Vladimir Putin has warned of potential power shortages due to the extensive energy demands of Bitcoin mining.
- Grayscale’s Bitcoin ETF Plans: Grayscale has announced its plans to spin off a Bitcoin ETF, marking another significant move in the crypto investment space.
- Art on Bitcoin Ordinals: Spanish artist Harto is at the forefront of generating art on Bitcoin Ordinals, blending creativity with blockchain technology.
For more in-depth analysis, stay tuned for the next edition of The Satsurday.
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