Listen now (4 min) | To investors, Below is the weekly write-up from bitcoin analyst Will Clemente, where he uses on-chain metrics to explain what is happening in the bitcoin ecosystem. Hope you enjoy it. Happy Friday, hope you all had a great week. At the time of writing, Bitcoin currently sits just above $53,600. Last week we described how price was either at a bottom or within days of reaching one based on the metrics that we looked at. Two days after the newsletter was sent out, price reached a local bottom on Sunday, retesting the key on-chain volume support zone of $47,000 before aggressively shooting back up. Let us take a look at the latest developments in on-chain data structure to develop an understanding of market participants’ behavior.
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