Checking Bitcoin's Vital Signs

After a volatile few weeks, it's a great time to zoom out, and run a full health checkup on the Bitcoin market.

G’day Folks,

After a pretty volatile week, today seems like a good day to take stock, zoom out, and run a broad health check on the Bitcoin market. Our natural response to volatility is gravitating down to the weeds of smaller time-frames, looking over our shoulder for the next angry red candle.

Instead, I want to assess the core fundamentals that underpin Bitcoin markets, to see if we still have a robust foundation below us. We will explore the market from several perspectives:

• Price performance and seasonality

• Capital inflows via ETF and spot markets

• Assess the financial status of BTC holders

• Check in on leverage across derivatives markets

• Gauge onchain activity and adoption trends

• Miners, who appear to be under pressure

Let’s dig into the data, and assess how healthy the Bitcoin market is under the hood.

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