2nd March 2022 > > Glassnode analytics.

tl;dr

Positive Glassnode analytics this week, which is nice.

Market Snap (at time of writing)

Market Wrap

A 15bps move in 10-year govvies is largely unprecedented and somewhat unexpected, though it is cheering to see negative correlation between stocks and BTC once again. Any more of that and the traditional and predictable naysayers will have to reassess their gloominess.

Curious Cryptos’ Commentary – Glassnode analytics

All the way back on 23rd February 2022, we did a little dive into some Glassnode on-chain analytics. One week on – and one war later – Glassnode have a couple of very interesting graphs for us.

You may recall that last week’s analytics focused on the dangers posed by the weak retail hands who were sitting on short-term losses.

Addresses with 100+ or 1k+ coins probably fall into the strong hand category. They have clearly mopped up any selling from the weak hands and must surely be a key driver behind the 15% or so rise in BTC over the last week.

It’s not just Russians who are buying, though some of the mainstream media - falling into their usual moral panic mode - might tell you otherwise.