Base Soldiers
@asmbyk
105 Following
10 Followers
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Moved 8K Bitcoins belonging to ℹ️Coinbase that have not been moved since 2020. Since the wallet is old, it gives a high cdd of "19:08:40" in the on-chain metrics. The issue of moving old Bitcoins, similar to what Coinbase did, is not something to be feared, I have explained it before.
When there is a demand on the ETF side, Coinbase moves its old Bitcoins, piece by piece, to newly opened wallets. When there is demand, it distributes it OTC to the ETF side. It can also signal that there may be a demand on the ETF side in the near future. We have tested it many times before, and after these inflows, we would see high inflows on the ETF side in a short time. The immediate price impact of this move is neither good nor bad.
I leave the visual details below. 0 reply
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Moved 8K Bitcoins belonging to ℹ️Coinbase that have not been moved since 2020. Since the wallet is old, it gives a high cdd of "19:08:40" in the on-chain metrics. The issue of moving old Bitcoins, similar to what Coinbase did, is not something to be feared, I have explained it before.
When there is a demand on the ETF side, Coinbase moves its old Bitcoins, piece by piece, to newly opened wallets. When there is demand, it distributes it OTC to the ETF side. It can also signal that there may be a demand on the ETF side in the near future. We have tested it many times before, and after these inflows, we would see high inflows on the ETF side in a short time. The immediate price impact of this move is neither good nor bad.
I leave the visual details below. 0 reply
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/ethereum *ETH/BTC - TOTAL2 - Bitcoin Dominances
I prepared a table based on the last 2 cycles.
At the end of the 2017 cycle, ETH/BTC falls 85% before TOTAL2 rises 400%. The last level of Bitcoin dominance at that time was 71%. Afterwards, ETH/BTC reacts at 0.023; in 37 days, ETH/BTC rises by 330% on average, BTC dominance falls to 35%.
In the 2021 cycle, the ETH/BTC pair falls 43% before TOTAL2 rallies 600%. It then reacts upwards from 0.023 and falls another 36% from 0.046 in the first week of February. It reacts again at 0.023. This time, the reaction buy reduces Bitcoin dominance from 61% to 44% in 42 days. The market peaks with the news of the Chinese miner ban, dominance continues to fall to 35%.
Why did I detail all this? Because sometimes you need to see how fast things can happen. In other words, if the movement starts, the market can show very high gains in a very short time. The only problem is predicting when it will start, which unfortunately no one knows for sure. 0 reply
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Ethereum
First of all, a brief summary for those who don't know:
Coinbase does not have an instant effect on the price, we use it as an insider, so they buy when the price is falling and sell when it is rising. For this reason, it is good that they started buying during the downturn "as long as it continues". Binance has more influence on the price. Coinbase buys beforehand, the price starts to accumulate, and after Binance gets involved, the price starts to rise. Meanwhile, Coinbase sells what they bought at the bottom, but as long as Binance buys, the price continues to rise. This is exactly how we follow.
Let's talk about the current situation: I don't update unless there is a change because I don't want to post every day and say the same things. I post more if there is a change; those who know already know. In the current situation, they have started to buy little by little since the last 2K drop. If the process continues, it is positive, I will check it occasionally and share it if you want.
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