Bitcoin Market Hangs Fear And Hope

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December 1, 2021

Cycling On-Chain is a monthly column that uses on-chain and price-related data to better understand recent bitcoin market movements and estimate where we are in the cycle. This seventh edition first addresses several on-chain and derivatives-related metrics to gauge the current bitcoin market structure. Then, it discusses two developing narratives that are introducing some fear into the market: the Mt. Gox rehab plan and the emergence of the omicron COVID-19 variant. Finally, we’ll conclude with the results of our monthly poll and the halving cycle roadmap.

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