Riding The Wave News Summary 107

Bitcoin hodlers sit on record 8M BTC in unrealized loss, data shows, Bitcoin Miners Powered Off as Winter Storm Battered North America, & more

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News

Table of Contents

1. Tweets

2. Bitcoin hodlers sit on record 8M BTC in unrealized loss, data shows

3. Bitcoin Miners Powered Off as Winter Storm Battered North America

4. Solana’s Top NFT Projects DeGods and Y00ts to Migrate Chains

5. Market volatility helps one crypto strategy outperform Bitcoin by 246% in 2022

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Tweets

whalechart.org 🐳 @WhaleChart

BREAKING: Putin says Russia ready to negotiate over Ukraine.

Gold Telegraph ⚡ @GoldTelegraph_

BREAKING NEWS: JAPAN TO BEGIN EXTRACTING RARE EARTH METALS FROM SEABED IN 2024 PROGRAM A PART OF EFFORT TO WEAN THE COUNTRY OFF ITS RELIANCE ON CHINESE IMPORTS The times are changing.

Bitcoin for Freedom⚡️ @BTC_for_Freedom

The next #bitcoin Halving happens in 480 days. The supply mined every 10 min will decrease from 6.25 to 3.125 BTC. And faces will melt once again.

unusual_whales @unusual_whales

China estimates 250,000,000 people have caught Covid in the last 20 days, per FT.

The ₿itcoin Therapist @TheBTCTherapist

Bitcoin adoption is accelerating.

whalechart.org 🐳 @WhaleChart

BREAKING: Grayscale who holds about 635,000 BTC might fall, and the Bitcoin price will face a massive capitulation.

Edgy - The DeFi Edge 🗡️ @thedefiedge

What I'm looking for in Crypto projects 2023: • Moats • Transparency • Differentiators • Great tokenomics • Revenue generation • An obsessed founder • Clear communication • Rapid iteration/shipping times Set a higher standard for your investments and wait.

Alf @MacroAlf

Between 2000 and 2002 the Nasdaq rallied 15%+ in 8 different occasions until the final bottom was reached In some of these 8 occasions the rally was as big as 40% from the local lows Long-lasting bear markets come with massive rallies - be nimble but don’t miss the big picture

whalechart.org 🐳 @WhaleChart

BREAKING: 2022 is on the verge of becoming the largest year for crypto crime ever, close to $3 billion being stolen so far.

Joe Burnett (🔑)³ @IIICapital

The current Bitcoin miner capitulation is looking deadly. Mining difficulty is projected to fall by more than 10%, and the price has much further downside. Hard to imagine who is still willing to hold BTC here.

unusual_whales @unusual_whales

This was ridiculous this year. Reminder, members of the Federal Reserve traded stocks that the Fed was buying in 2021 at the market's bottom, before the bull rally. This is where they sold - at the very market top - before the Fed raised rates and were cleared of wrongdoing.

James Spediacci @EthereumJames

Reasons why Solana $SOL is dead and going to zero ☠️🧵👇 1/ Solana was backed by one of the biggest frauds in history. The media portrayed him as a boy genius wunderkind, which made people want to invest in this average blockchain. Now he is disgraced and facing life in prison.

Rekt Capital @rektcapital

A brief history of #BTC rallies prior to and after the Halving event: Pre-Halving 1: +636% Post-Halving 1: +8950% Pre-Halving 2: +414% Post-Halving 2: +4000% Pre-Halving 3: +344% Post-Halving 3: +623% $BTC tends to rally most AFTER the Halving event #Crypto #Bitcoin

Ivan on Tech 🇺🇦🥑 - Building Moralis Web3 @IvanOnTech

Solana is now below Tron and even SHIB 😅 Sadly, I think this is EOS 2.0 Devs don’t want to build on a dying infrastructure, Solana projects likely migrate to EVM L2s

Virtual Kenji⚡️ @VirtualKenji

Are DeFi Options the next big DeFi Narrative? On-Chain says otherwise. 📈📉 Here's some data - Tell me your (honest) thoughts. 👇 🧵

Watcher.Guru @WatcherGuru

JUST IN: $9.6 trillion-asset manager Fidelity files trademark applications for an #NFT marketplace and #crypto trading services.

Bitcoin Archive @BTC_Archive

JUST IN: 78% of #Bitcoin supply is in cold storage. ✋💎🤚

unusual_whales @unusual_whales

33% of adults aged 65 and up reported applying for food stamps or visiting a food pantry over the past 12 months, versus 22% in 2020, per MarketWatch.

Dennis Porter @Dennis_Porter_

Last time #Bitcoin volatility was this low it went on a 600% rip.

unusual_whales @unusual_whales

American consumers will end the year with about $110 billion more in credit-card debt than they started with, which would be close to an annual record, according to WalletHub.

unusual_whales @unusual_whales

Interest rates on credit cards have climbed to just over 19%, according to Bankrate. com, the highest level in data going back to 1985.

Inverse Cramer ETF (Not Jim Cramer) @CramerTracker

Unreal

Nick Timiraos @NickTimiraos

U.S. home prices declined 0.3% in October, the fourth consecutive monthly decline, according to the Case-Shiller national index All 20 cities in the U.S. index posted monthly declines

whalechart.org 🐳 @WhaleChart

🚨 More than $19 billion in BTC, ETH, stablecoins left exchanges since the onset of FTX’s collapse.

Rekt Capital @rektcapital

Is #BTC performing Macro Double Bottoms at/around the 200-week moving average? $BTC #Crypto #Bitcoin

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Bitcoin hodlers sit on record 8M BTC in unrealized loss, data shows

Bitcoin is beating records this Christmas as sub-$17,000 price action sparks unrivaled pain for hodlers.

Data from on-chain analytics firm Glassnode shows that both short-term and long-term investors are sitting on more losses than ever before.

Its descent to levels last seen two years ago has created problems for hodlers who bought in more recently — logically, they are nursing negative returns on their positions.

The pain runs deeper than that, however, and Glassnode now shows the extent of unrealized losses plaguing newcomers and old hands alike.

For both short-term holders (STHs) and long-term holders (LTHs), current BTC price levels are a nightmare. STHs and LTHs are defined as entities hodling incoming coins for less than or more than 155 days, respectively.

According to the latest figures, as of Dec. 26, STH Bitcoin held at a loss totaled 1,889,585 BTC, with the LTH tally at 6,057,858 BTC.

A popular target is $10,000 for BTC/USD, which is potentially due in Q1 2023 as weeks of sideways action with hardly any volatility come to an end in the new year.

In terms of its retracement from all-time highs, however, Bitcoin still has room to fall, having not yet breached the 80% threshold common to previous bear markets.

Full Article

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Bitcoin Miners Powered Off as Winter Storm Battered North America

Crypto miners across the U.S. powered down over the weekend as a powerful storm swept across North America.

The bitcoin mining hashrate, a measure of computing power on the blockchain, dropped about 100 exahash per second (EH/s), or 40%, to 156 EH/s, between Dec. 21 and Dec. 24, data from BTC.com shows. It returned to about 250 EH/s as of Sunday.

The practice, known as curtailment, is touted as a way for miners to help electricity grids. The miners' steady demand ensures power producers are bringing in revenue to offset costs, but they can power off when demand from other sources is high, such as during winter storms.

The U.S. and Canada have been hit by an Arctic storm that sent temperatures as low as -50°F (-45°C) in the western U.S. state of Montana, according to the BBC, and covered western New York state with as much as 43 inches of snow. At least 37 people died as result of the storm, CNN reported.

Full Article

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Solana’s Top NFT Projects DeGods and Y00ts to Migrate Chains