Bitcoin continues to test behavioral support level of $20,000 this weekend. Rates sold off across the Treasury yield curve, continuing their precipitous rise of the last two weeks.
Welcome to TBL Weekly #10, grab a coffee and dive into this week’s highlights.
Tuesday
Matt took us on a trip to Austin for the BitBlockBoom conference—watch footage from the conference, including some testimonials from happy subscribers:
Wednesday
The Bitcoin Layer is coming up on its first birthday! We sent out a post announcing a small price increase for our publication, our new institutional product for professional investors, TBL Professional [please contact us if you are interested], and an offer to members of our free list—annual subscriptions for 33% off until September 13th! This offer is currently available only to non-paying subscribers. We are working through some logistics for you monthly subscribers to take advantage of this coupon. Please hang tight!
Nik also covered the action in rates and sets up the narrative for Fed policy over the next three weeks as Treasury yields and Fed Funds futures will be watched quite closely:
Thursday
Nik explains why the bitcoin-dollar juxtaposition is incomplete and offers insight into the structural differences between the dollar’s credit creation and bitcoin’s commodity-esque supply schedule.
A must-watch to orient yourself with The Bitcoin Layer’s research framework:
Friday
Joe covered the action in on-chain data—how coin dormancy signals a strengthening cohort of people less willing to sell, lining up historically with bitcoin cycle bottoms. We’re confident that bitcoin is amidst the bottom price range for this cycle—how long it remains there is far less certain.
We’re excited to fold more on-chain data into our research and analysis framework:
Market Analysis
Here is our market analysis for the week ending Saturday, September 3rd, 2022. The notable events in our Market Monitor are bitcoin falling below $20,000 (a 0.88 TBL Fair Value Ratio) and the Treasury yield curve becoming slightly less inverted:
Next week, we look to relatively few major economic releases, with all eyes firmly set on the September 13th CPI release, which will dictate the magnitude of the next Fed rate hike.
Have a great weekend everybody!
The Bitcoin Layer is sponsored by Voltage: provider of enterprise-grade Bitcoin infrastructure. Create a node in less than 2 minutes, just visit voltage.cloud