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What we’ve cooked up for you today…

Only the top 20 coins measured by market cap feature in this section

BREAKING: Retail interest is returning as Bitcoin crosses $64,000

Bitcoin’s price has been on a rampage.

Rising from $51,000 all the way to $65,000 over the last 7 days.

Analyst Fred Kruger pointed out there’s been a sudden uptick in search queries for “Bitcoin”.

A clear sign that retail interest is returning.

With Bitcoin’s recent price action, Krueger is also calling for Bitcoin to hit a new all time high this week…

Which doesn’t seem crazy at all.

At the time of writing, Bitcoin is only ~$4,000 away from breaking a new all-time high.

Nuts. 🥜

Bitcoin has never broken it’s previous all-time high before the halving.

That would be unprecedented…

But it looks like it’s about to happen (if things get real crazy it may have already happened by the time this newsletter is out 😂)

The ETFs have completely changed the game.

If you’re reading this, you’re in the right place, at the right time. 😎

Stop right there.

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Bitcoin will never drop below $49,000 ever again.

At least according to PlanB…

For those of you who don’t know PlanB, he is arguably the most famous on-chain Bitcoin analyst.

With over 1.9 million followers on Twitter, he is most well known for his Stock-to-flow model and spookily accurate price predictions.

Let’s breakdown some of the highlights from his latest market update.

The next market top will be in 2025

February marked Bitcoin’s largest monthly increase in dollar terms at an increase of ~$20,000. That’s actually nuts.

This price increase puts Bitcoin back on track for PlanB’s stock-to-flow model.

The stock-to-flow model received quite a lot of criticism as it was on the downside for all of 2022.

Essentially people believed the model was broken.

But PlanB claims that it’s back.

From this model, PlanB expects a market top in 2025:

Face-melting FOMO is coming

We spoke about this chart in detail the other day.

Check it out here in case you missed it.

Basically, the bull run is officially here. 🐂

And PlanB broke down exactly what we can expect going forward:

It can be an extremely fun but also scary time.

PlanB recommends you sit back, relax and enjoy the ride.

Oh and don’t panic at the first -30% dip. Those will happen, but they’re nothing to worry about.

Bitcoin will never drop below $49,000

This prediction is based on Bitcoin’s realized price.

Realized price is the value of all Bitcoins at the price they were last moved divided by the circulating supply.

The signature of a bull market is Bitcoin being above all of these Realized price variations - which it is.

But PlanB also mentions that in a bull market, Bitcoin will never dip below the 5 month realized price:

Strap in, this rocket ship is about to take-off. 🚀

Click here to watch PlanB’s full video.

Today we’ll be taking a look at the Long / Short-Term Holder Threshold.

Here’s how this metric works:

This metric is extremely powerful as we can see exactly what price STHs and LTHs purchased Bitcoin at. 🔎

The STH / LTH threshold is currently at 1st October 2023, back when Bitcoin was ~$28,000. (isn’t it crazy that it’s more than doubled since than)

All coins purchased before this date are classified as LTHs.

All coins purchased after this date are classified as STHs.

Today there is currently 14,502,749 Bitcoin in the hands of LTHs. (73.83% of the circulating supply) 💪

Whereas the amount of coins held by STHs is only 2,875,449. (14.64% of the circulating supply)

Since the launch of the ETFs there’s been an increase in the amount of STHs and a decrease in the amount of LTHs.

Why?

This simple answer is Grayscale’s considerable outflows.

Currently Grayscale has sold 198,543 Bitcoin.

Meaning 198,543 Bitcoin have recently become “young” again.

Plus with Bitcoin’s recent price surge, some investors are bound to take profits.

Regardless, zoom out a little and you’ll see long-term conviction in Bitcoin is still extremely high.

In fact, it’s basically still at an all-time high.😎

Grayscale CEO says there is 'insatiable demand' for spot Bitcoin ETFs. Sonnenshein said spot Bitcoin ETFs have seen "tremendous" flows and demand since their launch in January.

Bitcoin daily withdrawals challenge records as $2B leaves exchanges. Bitcoin exchange withdrawals in U.S. dollars are unlike anything seen for years, new BTC balance data shows.

Bitcoin ETFs now hold nearly 4% of all bitcoin — and they’re not slowing down. Bitcoin has new buyers in the form of some of Wall Street’s biggest players, and they’re gathering some enormous treasuries.

Want to get even smarter? Check these out.

p.s. all completely FREE

Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

Because what would the crypto world be without its share of memes?

Trivia Answer: D) 2012 🥳

Co-founders Brian Armstrong and Fred Ehrsam founded Coinbase in 2012 back when Bitcoin was worth ~$6.

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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.