TLDR
Bitcoin is in the middle of the halving cycle, but the current cycle is tracking in between the two. This is important to understand because the blowoff top in 2013 was much faster than 2017. The first on-chain chart we’re looking at today is the Net Unrealized Profit/Loss or NUPL. The network tends to be above zero unless it’s in a crypto winter. The second chart looks at the second day at the net transfer from exchanges/to exchanges exchanges.via the TL;DR App
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Written by benlilly | Cofounder: Jlabs Digital, Deploy.finance, PANDA Terminal
