Happy U.S election day everyone. While patiently awaiting the results of this historic event, we wanted to put some BTC on-chain metrics on your radar. For our Insights and Institutional members, this information and more can be found in our recently released Bitcoin Outlook.
1. Weak Hands
The speculative base (supply moved in the previous has increased around ~1% since our last Outlook. This is natural as the recent spikes in BTC volatility bring in and flush out speculators. While local maximums for ‘weak hands’ trends downwards, we can not confirm that the recent speculative base increase has formed a top. Therefore, it is important to track this metric going forward to watch for a trend reversal. From a first glance, however, it does seem that the supply that has unmoved in the past month has exhausted itself of weak hand