Glassnode, the on-chain data analyst firm, has taken to Twitter to promote their lead analyst, Checkmatey_, and his latest podcast appearance. In the podcast, Checkmatey_ discusses essential on-chain metrics that Bitcoin investors should pay attention to for tracking Bitcoin cycles.
The podcast “Bitcoin Is Building Strength On-Chain” features Checkmatey_ alongside Joe Consorti and Nik from The Bitcoin Layer. The podcast delves into the trends Checkmatey_ is observing using data derived directly from Bitcoin’s blockchain, including his belief that Bitcoin hit a textbook cycle bottom last November.
Glassnode also discussed its own powerful tools for analyzing on-chain data. They noted that they had distilled the distinct on-chain signatures of euphoria and despair into actionable signals that can spot overheated and widespread capitulation conditions.
The distribution of BTC supply is another topic of interest in the on-chain analysis world. Glassnode’s research shows that smaller holders have consistently grown their share of the pie, while BTC held by whales and exchanges has declined for several years.
For those looking to get started with on-chain analysis, Glassnode recommends starting with the magical MVRV Ratio. This metric can provide insights into trends, price levels, and cycle extremes.
Finally, Glassnode discusses BTC within the context of energy markets. Their research suggests that Bitcoin PoW mining is both hyper-competitive and a perfectly balanced free market for innovation.
Nevertheless, Glassnode emphasizes the information-rich world of Bitcoin on-chain analysis. By analyzing the immutable decisions appended to the Bitcoin ledger each block, on-chain analysis can gauge how the rest of the market is feeling, behaving, and reacting to market conditions.
Bitcoin: Glassnode Tweet Sparks Community Response
Glassnode’s tweet has elicited a flurry of responses from the community. However, not all of the responses were related to the topic at hand. One community member commented, asking if anyone had a link to the “defi free money glitch” that everyone’s been talking about.
It’s unclear what this person was referring to, but it’s worth noting that there have been numerous DeFi hacks and exploits in recent years, so caution is always advised.
Another community member had more positive news to share, claiming they had received $5500 out of a $500 investment thanks to a legit investment platform recommended by Mrs. KarinLechner.
A third community member also said positive things, claiming they had earned well in the market after coming across a tweet about KarinLechner_31 a couple of months ago. However, a person never expected investing in crypto and stocks to be profitable and encouraged others not to miss the opportunity.