The Week On-chain: Three Fallen Banks - Week 11, 2023 (Bitcoin Onchain Analysis)

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After one of the most consequential weeks of 2023, the digital asset industry is short three crypto friendly banking institutions in the US. However the principle investor response thus far appears to be a seeking safety in the most trustless major assets BTC and ETH.

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Topics for Discussion:
- De-peg of fiat backed stablecoins, and flows towards USDT.
- Net capital outflows from digital asset market.
- Market preference for self-custody of BTC and ETH majors.
- Series of speculative long and short squeezes in futures markets.

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Timestamps
0:00 Introduction
3:50 Price and Technical Models
6:18 Depeg of Stablecoins from $1
8:30 Stablecoin Dominance
9:08 Aggregate Market Realized Value
11:00 Net Capital Inflow/Outflow to Industry
14:12 Exchange Flows for Spot BTC and ETH
16:13 Futures Open Interest and Volume
17:44 Long and Short Liquidations and Funding Rates
19:57 Deep Dive: Comparing SOPR and Funding Rates
24:58 Summary and Conclusions

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.