• 10x Market Updates
  • Posts
  • Crypto Trends Chart Book: Understand What is Moving in the Market and Why.

Crypto Trends Chart Book: Understand What is Moving in the Market and Why.

Author

Markus Thielen
January 06, 2025

Please find the chart book link at the bottom of this report.

👇1-17) Bitcoin (BTC-USD is above the 7-day moving average -> bullish, and is above the 30 day moving average -> bullish, with 1 week change of +6.6%) hashrate hit a new all time high, surpassing 1,000 exahashes per second (EH/s), which is nearly double from a year ago. This indicates significant investment in mining despite the halving event in April 2024 that reduced mining rewards. The U.S. has become a major player in Bitcoin mining, contributing over 40% of the global hashrate. BlackRock's iShares Bitcoin Trust (IBIT) recorded its largest outflow since its launch with $330.8 million worth of Bitcoin on January 2, 2025.

Market Updates

Become a paying subscriber of Market Updates to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In.

Most comprehensive, unbiased digital asset research for traders and institutions:

  • • Receive 2-4 concise, informative Market Updates reports per week.
  • • We cover everything that impacts the price of Bitcoin and other major cryptos, from on-chain data to macro and market structure (funding rates, money flows, etc.). Our insights are trusted by some of the largest hedge funds and traders in the industry.
  • • You'll gain full access to our in-depth 'Market Update' analysis, informed by our experience at leading investment banks like Goldman Sachs, Morgan Stanley, and JP Morgan, as well as managing hedge fund capital at Millennium.
  • • We rigorously backtest our insights and are unafraid to call bullish or bearish market conditions. Our research is unique and grounded in solid financial analysis, offering perspectives you won't find anywhere else.
  • • --------------
  • • Our clients include hedge funds, traders, liquidity providers, exchanges, family offices, proprietary traders, institutions, high-net-worth individuals (HNWIs), CEOs of major listed Bitcoin mining companies, executives from crypto service providers, TradeFi portfolio managers, etc.