related posts
0 sats \ 0 replies \ @ExponentialBTC OP 26 Aug 2022
Summary
- This week, the Biden administration announced their plan to provide student loan debt relief to millions of Americans.
- The major market indexes finally got the pullback that this newsletter has been discussing for a couple weeks.
- European energy prices have reached all-time highs, which has major effects on the rest of the world.
- According to Black Knight, housing prices declined in the month of July and was the largest monthly decline since 2011, signaling a decline in demand and a squeeze on consumers.
- After the negative price action this week Bitcoin has re-entered the "value" zone in various accumulation metrics
- On-chain activity is congruent with that of past bear markets
- The lightning network is continuing to grow as a means of sending small payments
- The futures market is placing a higher likelihood of negative price action going forward
- Hash ribbons indicate the worst of the miner capitulation is over and are flashing a strong buy signal for Bitcoin.
- Bitcoin's Energy Gravity currently sits at $0.10, meaning that the modern mining rig (~ 38 W/TH) earns 10 cents for every kWh consumed.
reply