Will Clemente, author of the BTC by WC3 newsletter, breaks down the current state of Bitcoin’s on-chain activity and explains why he believes the market is in a mid-cycle lull rather than turning bearish. Show highlights:
- why Will is not worried about a bear market
- what indicators make Will believe BTC is in a mid-cycle consolidation
- who is selling and driving the recent market downturn
- why Will thinks the unwinding of derivatives is a significant factor in Bitcoin’s move below $30K
- what Will believe institutions are waiting on before entering the market again
- how Bitcoin cycles can be broken down into mini hype-cycles
- how long-term holders are acting on-chain
- the difference between long-term holders versus short-term holders during bear and bull markets
- why Will is interested in finding data on Latin American Bitcoin users
- how long the consolidation process might take
- what metrics Will has his eyes on for the latter half of 2021
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