As the institutional investment narrative continues to play out, on-chain metrics show that the continued accumulation of BTC in major addresses is still ongoing, increasing 9% in the last 30 days alone. This was slightly offset by the drop in 10-100 BTC addresses, suggesting that smaller “whales” found the chance to take profits too good to miss.
The year started with a sharp increase in volatility and trading volume. BTC hit a new all-time high of $ 41,941 before falling back below $ 32,000. The annualized volatility reached 97%, a high that has not been reached since April 2020.
The latest bi-weekly newsletter from Cointelegraph Consulting covers the impact of futures funding rates on the market. With investors eager to capitalize on Bitcoin’s skyrocketing prices, refinancing rates hit new highs, putting the market at high risk from over-leveraged positions.
Read the full edition of the newsletter here for more news and signals with detailed diagrams and pictures.
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