Our latest report on Bitcoin Ordinal Theory and Inscriptions is live. TL:DR - Jpgs dominate 90% of inscriptions - Chain data growth is unconcerning - Inscriptions are fee sensitive - Monetary tx remain primarily mined tx - Inscriptions buy unused blockspace

Glassnode Research – Digital Asset Market Intelligence

Ordinal Theory and the Rise of Bitcoin Inscriptions

Recent weeks have seen an very unexpected trend emerge on the Bitcoin network, being the permanent and immutable inscription of data, directly into...

#Bitcoin    Inscriptions push two end zone results into the foreground: 1. Blocks are full from a data perspective --> this was always the expected result. 2. Fee pressure builds making on-chain more expensive --> also the long term expected result. So what is the problem? Constraints breed innovation. When Ethereum fees rose, they built Layer 2s to solve it. If blocks are full of data you don't like, make high demand monetary applications to crowd out the jpegs. We're entering a golden era of #Bitcoin    innovation. Embrace it.

Thanks for the 21 sats anon! First 👊

Bitcoiners still like to take profit. The MVRV ratio is much more than a macro oscillator. It is a representation of the average profit multiple held by unspent coins. In bullish rallies, a value above 1. 2 indicates an average of 20% profit amongst short term holders and usually is enough incentive to sell a little. We just found resistance at this level as a few bottom stackers took money off the table. A retrace to around $20k would be a retest of their cost basis and historically, a good indicator for a dip to stack. Pro tip: you can simulate STH MVRV by dividing price by a 135day EMA.

Old mate Checkmate is planning on sharing regular Bitcoin onchain analysis from my personal analysis on Nostr only. None of the hocus pocus bullshit, the real deal Bitcoin behavioral analysis. Stay tuned, stay humble, stack sats.

The aliens are here for our Bitcoin.

Really feels like safety in sats is the sane position right now. Fiat instruments rugging via mathematically assured debasement on one side. Regulators rugging questionable tokens via a combination of overreach and hard reality on the other. #Bitcoin DGAF