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Bitcoin has broken to its fourth cycle alltimehigh, rallying above $72k, and pushing sentiment one step closer to Euphoria. The classic wealth transfer from the HODLer cohort to speculators is now well underway, with significant upticks in spot profit taking, and demand for futures leverage.

Written Report: https://insights.glassnode.com/thewe...
Live Dashboard: https://studio.glassnode.com/dashboar...
Framework for Bull Markets: https://glassno.de/49O5MfU

Topics for Discussion:
Assessment of the BTC price breaking to new ATHs at $72k.
Comparison of this ATH break to those of prior cycles.
Analysis of the Wealth Transfer from HODLers to Speculators.
Observations of statistically high realized profit taking.

Key Dashboards
Mastering Realized Cap Report: https://glassno.de/3PA7kCy
Mastering Realized Cap Dashboard: https://glassno.de/3YgoxUg
♟ Mastering MVRV Dashboard: https://glassno.de/3IRQB9k
Start your Glassnode Advanced free trial today: https://glassno.de/3QFXu0S
Technical Analysis Toolbox: https://glassno.de/3MPzgRv
Spotting Cycle Tops and Bottoms Dashboard: https://glassno.de/cycleextreme
Recovering From a Bitcoin Bear Dashboard: https://glassno.de/recoveringbear
Exchanges Dashboard: https://glassno.de/3RimWJY
Realized Profit Loss Dashboard: https://glassno.de/3H6c8dz
Pricing Models Dashboard: https://glassno.de/3J9hVkW
HODL Wave Dynamics: https://glassno.de/3xzSmTn
Bitcoin Price Performance Dashboard: https://glassno.de/3UwBRCf
Shrimp Supply Sink Report: https://glassno.de/41hmhgp
Realized Profit/Loss Momentum: https://glassno.de/3P6XkAq
Capital Rotation Dashboard: https://glassno.de/3P78rbu

Getting Started with Glassnode:
Navigating Tops and Bottoms: https://glassno.de/3OpgSgA
⛓ Onchain Activity: https://glassno.de/3xXM13Q
⛏ Mining Fundamentals: https://glassno.de/3nnfL5m
Supply Dynamics: https://glassno.de/3NyhPlK
Introduction to Lifespan: https://glassno.de/3ehCmzn
Realized and Unrealized Value: https://glassno.de/3ExnCa1
Long and ShortTerm Holders: https://glassno.de/3QLUzCt

Timestamps
0:00 Introduction
2:10 Framework for Assessing Bull Markets
4:10 Price Breaks to ATH
5:38 Realized Cap ATH and Capital Inflows
8:06 Realized Cap HODL Waves
10:00 Long and ShortTerm Holder Supply
12:34 Supply and Demand Equilibrium at Cycle Peaks
15:16 RHODL Ratio Analysis
17:51 RHODL Ratio Components
19:27 Realized Profit Analysis
22:15 SOPR vs Funding Rate Deep Dive
29:33 Summary and Conclusions

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About:
The Glassnode video report provides a weekly analysis update of the trends, performance, and onchain metrics for Bitcoin and the crypto market.

Disclaimer:
This report does not provide any investment advice. All data is provided for information purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions.