Bitcoin 2023 year in review: Analysis of BTC’s key metrics
This market report dives deep into Bitcoin’s performance over the past year, analyzing a range of metrics to provide a more objective and comprehensive perspective of its YTD growth.
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Welcome to this month’s CryptoSlate Alpha Snapshot, an exclusive overview of the most insightful research, market reports, and analyses released over the past month for our dedicated subscribers. This comprehensive compilation, accessible only to those who have staked the minimum requirement of 20,000 ACS tokens to our Access Protocol pool on Solana, is your gateway to understanding the intricacies of the crypto market.
December has been a pivotal month, marked by our deep dive into Bitcoin’s 2023 year in review, scrutinizing key metrics to unravel the layers behind its year-to-date growth. We’ve also shed light on the complex dynamics between the rise of Central Bank Digital Currencies (CBDCs) and their implications for crypto and Bitcoin.
Our research articles observed a notable end-of-year rally in the stablecoin market cap, mirroring Bitcoin’s price uptick. Our analysis of Bitcoin’s growing economic footprint through its realized cap and the remarkable recovery of Solana in December brought forth nuanced perspectives on these crypto assets.
Furthermore, we delved into the shifting investor behaviors, as evidenced by the withdrawal of Bitcoin from exchanges and the increased reliance on Bitcoin in economies facing financial turmoil. Our exploration extended to understanding Bitcoin’s key cost-basis indicators and its emerging role as a safe-haven asset, challenging gold’s supremacy.
Our insights didn’t stop there. We explored the evolving dynamics of the Bitcoin and Ethereum ecosystems, the implications of Bitcoin inscriptions beyond JPEGs, and the patterns of Bitcoin ownership that signal a strong accumulation trend.
As we look towards the future, our Alpha insights tackled the potential impacts of the spot ETF and the halving on Bitcoin in 2024, along with a detailed analysis of Bitcoin miner revenue and the market activities of short-term holders.
This snapshot is just a glimpse into the wealth of knowledge and insight available to our CryptoSlate Alpha subscribers. Stay ahead of the curve and deepen your understanding of the crypto market with our December Alpha Snapshot.
This market report dives deep into Bitcoin’s performance over the past year, analyzing a range of metrics to provide a more objective and comprehensive perspective of its YTD growth.
This market report explores the evolving role of central bank digital currencies, their potential to redefine global finance and their complex relationship with cryptocurrencies.
The total stablecoin market cap saw a strong recovery in Q4, hinting at an infusion of liquidity into Bitcoin.
Bitcoin’s true market value gains ground with a 12% realized cap hike.
Solana’s rebound resonates with soaring TVL and user engagement in December’s crypto rally.
December data suggests growing investor preference for holding Bitcoin off-exchange.
From Argentina to Nigeria, Bitcoin trading pairs surged against troubled fiat currencies.
Diverging paths of Bitcoin’s realized and true market mean prices offer deep market insights.
BTC/GOLD ratio hits new highs, mirroring Bitcoin’s ascent against traditional safe havens.
Despite volatility, SOL/ETH ratio showcases Solana’s resilience in the L1 race.
Text and BRC-20 inscriptions make up 96% of the 47.36 million Bitcoin inscriptions, with the controversial JPEGs accounting for less than 3%.
Surging Stablecoin Supply Ratio points to Bitcoin’s growing market dominance.
The number of created UTXOs has been outpacing spent UTXOs since late October, pointing to a strong trend of Bitcoin accumulation.
Only 11.81% of Ethereum’s total supply remains on centralized exchanges, marking a significant shift towards DeFi investments.
A decline in miner BTC balances signals strategic moves in response to December price rally.
Bitcoin’s supply in profit reflects sustained market optimism, staying robust above the 50-day moving average despite recent corrections.
Long-term Bitcoin holders prevail, pushing dormant supply to unprecedented levels.
Bitcoin traders embrace risk management with lowered leverage ratio throughout 2023.
The increase in Bitcoin’s illiquid supply correlates with an upward trend in market valuation.
Lightning Network’s capacity spike indicates a growing trust in Bitcoin transaction efficiency.
Analyzing the impact these two pivotal developments could have on Bitcoin.
Bitcoin’s rollercoaster ride in November leads to massive profits for short-term holders as Bitcoin rides a recent wave of optimism.
Miner revenue hits $50 million, outpacing long-term average.
Short-term holders’ activity spikes as $2 billion worth of Bitcoin hits exchanges amidst market dip.
Bitcoin’s dramatic value plunge to $40,000 followed by record transfer from short-term holders.
Steadfast Bitcoin investors signal indifference to price swings, demonstrating their confidence in long positions.
As Bitcoin’s next halving looms, miner bitcoin reserves shrink amid uncertain market signals.
Emerging trends in Bitcoin transaction fees highlight miners’ growing dependence on new technologies like Inscriptions amid declining block rewards.
Bitcoin illustrates the impact of crypto on financial markets by offering a trading calendar that outstrips 21 years of S&P 500 operations.
With eight weeks of gains behind it, Bitcoin inches ever closer to breaking previous records.
USDT Tether experiences a 4 billion surge in circulating supply, echoing trends in Bitcoin’s valuation.
Analysis shows fluctuating Bitcoin fees per block play key role in miner profitability.
‘Plankton’ and ‘Shrimp’ Bitcoin addresses swell, reflecting confidence in cryptocurrency’s future.
Outshining past performances, Bitcoin’s steady ascent hints at breaking its six-month profit record.
The digital asset market remained volatile with $83 billion in realized profits against $55 billion in losses last year.
Economic indicators hint at recession while digital currencies and equities stay their course.
The post Bitcoin’s year-end analysis reveals robust growth and resilient investor behavior: CryptoSlate Alpha Snapshot appeared first on CryptoSlate.
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