🟠Orange Monthly: Market Stasis
The Bitcoin market appears frozen in time, despite a whirlwind of storms outside.
Note: This monthly report & upcoming conference call is exclusive to Checkonchain Orange subscribers - which is our upper-tier plan within Substack.
If you would like to learn more about Orange, or access a single monthly report + conference call recording, please click the button below.
Dear Orange Members,
Given the magnitude of chaotic events swirling around the Bitcoin market, it’s remarkable to see how little volatility has been inspired by it.
The largest public-facing entities (Strategy and the ETFs) have become net sellers of BTC, and confidence in self-custody has taken a hit with the Coldcard exploit. Through all of this, the Bitcoin price has barely flinched, and continues chopping wood around the 200-week moving average.
This month’s Orange report is titled Market Stasis, covering the following topics:
The market and onchain impact of the Coldcard exploit and coin migration.
Analysis of the time-pain capitulation across multiple market sectors.
My current price and supply analysis of Bitcoin from an onchain lens.
Update on Strategy’s balance sheet, MSTR issuance and preferred stock performance.
Orange Members will find the report PDF, and details of our upcoming monthly conference call below.