The transaction fee of the entire Bitcoin network was 55.23 BTC yesterday
According to BTC.com data, the total network transaction fee for Bitcoin yesterday was 55.23 BTC, a decrease of 13.87% compared to the previous day (64.13 BTC).
The open position of BTC options on the entire network is US$11.84 billion, and the open position of ETH options is US$6.49 billion.
According to Coinglass data, the nominal value of open BTC options positions on the entire network is $11.84 billion, and the nominal value of open ETH options positions is $6.49 billion.
Kaiko: Bitcoin’s safe-haven status strengthens despite recent pullback
According to a report by Kaiko, despite recent price retracements, Bitcoin's safe-haven status has been strengthened. The report states: "Overall, Bitcoin's returns are significantly higher than other traditional safe-haven assets such as gold, US bonds, or the US dollar. Its performance is significantly better than the market, attracting safe-haven funds during last year's US banking crisis." In addition, the 60-day correlation between BTC and the Nasdaq 100 index has significantly decreased over the past year, further supporting its image as a safe-haven asset.
Fidelity Global Macro Director: Bitcoin Sharpe Ratio has reached +0.97 in the past five years, higher than the S&P 500 Index
Jurrien Timmer, the global macro director of Fidelity, stated that the Bitcoin Sharpe Ratio has reached +0.97 in the past five years, which is worth paying attention to. This value exceeds other investment categories such as the S&P 500 Index (0.74) and the US 60/40 investment portfolio (0.73), indicating that despite the volatility of the digital asset market, the risk-return of Bitcoin has been in a very balanced state over the past five years, and the returns obtained are roughly proportional to the risks borne by investors. The Sharpe Ratio, also known as the Sharpe Index, is designed to calculate how much excess return an investment portfolio will generate for each unit of total risk it bears. The ratio is based on the concept of the Capital Allocation Line (CAL) and is the most common measure ratio in the market. When all assets in the investment portfolio are risky assets, the Sharpe Ratio is applicable. The Sharpe Index represents how many excess returns an investor can get for each additional unit of risk they take. If it is greater than 1, it means that the fund's return rate is higher than the volatility risk; if it is less than 1, it means that the fund's operational risk is greater than the return rate.
Tap Protocol releases Trac Core beta version
Tap Protocol, a decentralized meta-protocol project based on the Bitcoin network, has released the Trac Core test version (the first stage of the third phase of the Trac Core launch). Developers can now explore the decentralized data distribution of Bitcoin Ordinals without the cost associated with indexing. It is reported that developers and projects can download, install, and run their ready-to-use environment in minutes, eliminating the complexity and cost associated with setting up Bitcoin Core and Ord wallets.
Placeholder VC partner: Bitcoin may fall back to the mid-to-high area above $20,000 before heading towards a new all-time high
On January 27th, according to CoinDesk, former Ark Invest crypto head and current Placeholder VC partner Chris Burniske said that Bitcoin (BTC) has not yet reached its bottom. He believes that the price may drop to at least the range of $30,000 to $36,000, and he would not be surprised if it tests the mid-to-high range above $20,000 before ultimately reaching a new historical high.
Beam CEO: Spot Bitcoin ETF betrays the original ideals of cryptocurrencies
Andy Bromberg, CEO of cryptocurrency wallet developer Beam, said in an interview that he believes that a physical Bitcoin ETF goes against the original ideals of cryptocurrency. Bromberg also stated that Beam has acquired a new application that allows people to pay for online purchases using stablecoins.
CryptoQuant: Bitcoin reserves held by miners drop significantly ahead of halving
Based on the latest analysis from CryptoQuant, the amount of Bitcoin held by miners has significantly decreased before the halving, while the amount of Bitcoin transferred to exchanges has surged. Currently, the flow of Bitcoin from miners to exchanges is three times the opposite flow, indicating an increase in selling pressure from miners.
Sovryn launches BitcoinOS to enable developers to develop on Bitcoin
Bitcoin DeFi dApp Sovryn announced the launch of BitcoinOS, which is a Bitcoin rollup "super chain" designed to address any limitations brought by Rootstock sidechain technology, enabling developers to develop on Bitcoin, achieve sustainability, drive adoption, and cultivate network effects.
US Government Plans to Sell $130M Worth of Bitcoins Seized from Silk Road
The US government has filed a notice to sell almost $130 million worth of Bitcoins seized from the Silk Road darknet marketplace. The sale will be in two lots, with one lot consisting of 2874 BTC valued at $129 million and the other lot consisting of 58 BTC worth $3.3 million. Individuals, excluding defendants, have 60 days from January 10 to assert an interest in the forfeited property via an ancillary petition. The US government's sale of these Bitcoins could create further selling pressure on the BTC price.
CME Bitcoin contract open interest drops to $4.42 billion
According to Coinglass data, the total open position of BTC futures contracts on the network is 427,590 BTC (approximately $17.12 billion). Among them, the open position of CME BTC contracts is 110,520 BTC (approximately $4.42 billion), ranking first; the open position of Binance BTC contracts is 104,560 BTC (approximately $4.19 billion), ranking second.
Placeholder Partner: Bitcoin is expected to drop to $30,000 to $36,000
Former Ark Invest cryptocurrency head and current Placeholder VC partner Chris Burniske stated on social media that he believes Bitcoin may fall to a range of $30,000 to $36,000 or test the range of $20,000 to $30,000. He reminds the market of volatility and false breakouts. Currently, there seem to be many uncertain factors at the macro level. New product innovations are coming, but they are not yet fully in place. Chris Burniske suggests patience and still holds cryptocurrency assets.
Bruised by stock market, Chinese rush into banned bitcoin
SHANGHAI/HONG KONG, Jan 25 (Reuters) - Dylan Run, a Shanghai-based finance sector executive, started moving a bit of his money into cryptocurrencies in early 2023, when he realized that the Chinese economy and its stock markets were going downhill.
The 60-day correlation between BTC and the Nasdaq 100 Index has approached 0
Kaiko stated in a post on X platform that the 60-day correlation between BTC and the Nasdaq 100 index has approached 0.
About 23% of Bitcoin addresses are currently losing money
According to IntoTheBlock data, the drop in Bitcoin price to $39,000 has had a significant impact on investor sentiment. Currently, about 23% of Bitcoin addresses are in a loss position, a significant increase from 13% a week ago.
BTC returns above $41,000
Market data shows that BTC has surpassed $41,000 and is currently trading at $41,005.7, with a daily decline of 1.88%. The market is volatile, so please manage your risks accordingly.
BTC falls below $40,500
According to market data, BTC has fallen below $40,500 and is now trading at $40,473.6, with a daily decline of 3.11%. The market is volatile, so please be prepared for risk control.
Arthur Hayes predicts Bitcoin will fall below the $40,000 mark
BitMEX co-founder Arthur Hayes expressed a pessimistic view on the future price trend of Bitcoin (BTC) in social media comments. Based on a Bitcoin price chart he shared, Hayes said Bitcoin looks very heavy and believes its price will fall below $40,000. As a result, he has started to short sell and purchased put options with a strike price of $35,000 expiring on March 29. Hayes further speculated that Bitcoin's decline may continue until the US Treasury Department's quarterly refinancing announcement on January 31.
MicroStrategy vs Bitcoin: the gap is closing
Since 2020, MicroStrategy has primarily been a Bitcoin holding company. Yes, they engage in other activities, but the bulk of their business value stems from the Bitcoins they possess.
During this period, MicroStrategy's stock (MSTR) has frequently outperformed Bitcoin (BTC).
CoinShares Mining Report: The Halving and its impact on hash rate and miners cost structures
The Bitcoin mining network has experienced meteoric growth, with an increase in hashrate of 104% in 2023. This rapid expansion raises concerns regarding its sustainability, both from an environmental standpoint and in terms of the mining network’s profitability. In this document, we aim to address both of these important issues. Our final results of the average cost of production per Bitcoin, post halving for each miner are listed below, highlighting the average cost of production is US$37,856.
