🚨BITCOIN PRICE REPORT NINE DATA SETS YOU MUST KNOW. We are at a sad phase in the cycle where people are debating if crypto gains will ever come back. If 10x returns will ever be possible. What does the data say when bias is removed. Some Facts. • Online Searches for Bitcoin and Crypto is at all time low. • Lowest volume in crypto ever seen along with lowest volatility. • Most VCs are at intense losses and are now coping by shilling garbage meme coins. • Making money in crypto right now has become a game of, "WHO CAN DUMP FASTER" with the meme coins (Unless you are a good BTC ETH trader) Some more points to consider. 1. Digital asset investment vehicles had an outflow of US$168 million in the second last week of August, the largest since March 2023. After Grayscale news, outflows stopped for Bitcoin and inflows started. Altcoins continued to see outflows after it became clear that it'll take more time before ETFs are approved even after Grayscale win. Outflow shows taking off crypto from exchange and putting it in private wallets.(Pic below) 2. CryptoQuant have also reported that we just saw the highest Bitcoin fund daily volume since the beginning of the year on August 30th. 3. This is important! Bitcoin outflows consistently surpassed inflows by an 80% margin year-over-year. This is Bullish as larger players continue to move BTC to cold storage, these don't care about 10-15% fluctuations, this shows confidence in BTC. HODL Waves data shows significant percentage of Bitcoin's total supply is held in cold storage by long-term holders. ( See Pic Below) A little biased conclusion from Points 1-3 Some players, are taking coins off exchange and storing it offline. Market Bottom Analysis: 4. Spent Output Profit Ratio (SOPR) suggests Bitcoin might be near its market bottom, with values around 0.96 indicating investors selling at a loss. (Pic Below) 5. The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) shows short-term holders are trading at a loss, a signal of market fear and potential market bottoms. Volume & Liquidity Analysis: 6. Centralized crypto exchanges recorded their lowest monthly trading volume since October 2020, at less than $423 billion. Altcoin spot volumes decreased as attention shifted towards a potential Bitcoin ETF. Volatility 7. Move up since Grayscale news was news driven and on derivatives. No major action on spot right now. The derivatives market volume was 20 times the spot volume across major exchanges. This could also mean volatility will increase soon, but not immediately. More the derivatives market participation in comparison to spot -> More chances of volatility. 8. DVOL (Bitcoin historical volatility) is range-bound between 30-50. Demand for long-dated calls in options market has increased a lot. Currently the implied volatility is lower than historical volatility. Meaning options traders still expect lower volatility for longer. We don't have a catalyst for now. IV (Implied Volatility) level continues to decline while last week 143k ETH options expired at put call ratio of 0.85 and max pain price of $1700. This is a good example of time capitulation in play right now. 9. BTC velocity continues to decrease, now sitting at 23, close to last huge low at 19.8. This shows how well Bitcoin is changing hands in the market. BTC forms a bottom when this metric bottoms and then increases with increase in volatility. (Pic Below) In conclusion, the market is in a winter where the old guards withdraw their tokens and rest, the opportunists freeze and leave, the experienced will accumulate. Whales are unbothered, having seen multiple cycles, the know we might even dump to 18K, but 70K is guaranteed in 2-3 years, and then, it won't matter if you bought at 25K or 18K. Survive for the winter is short, rejoice for the spring will be blasting off, slowly but for sure.