HIVE Digital Technologies Ltd V.HIVE

Market snapshot as it relates to HIVE...

[MxwllSmrt]

I figured I'd post a crypto market snapshot regarding BTC and ETH since that's what HIVE mines... but before doing so I wanted to mention that the 4Q report for Grayscale came out last week (1/14) and in the 4Q they added $3.3B... that's an average of $251M per week into Grayscale products...

Now, I mentioned this because according to a few analysts online, Grayscale also added 30K BTC to its coffers this week alone... and that's basically 1 month of issuance... think about that for a bit... that little factoid would mean that the GBTC is 4X the demand side of all the physical BTC sellers... 

Grayscale's products... https://twitter.com/Grayscale/status/1352733982497120257/photo/1

So if MicroStrategy's $10M @ $31,808 per coin purchase allowed for 314 coins, that would mean Grayscale's purchases this past week were shy of $1B... So what about Mass Mutual and what about everyone else that's not putting out press but buying, selling or accumulating? 

ETH: According to Glassnode, at the time of this writing, the exchanges saw inflow volume down 45.67% to 383,492.3 ETH to 19,923 deposits and 512,657.51 ETH 22,595 ETH withdrawals over the past 24 hours alone... and yes, that shows outflow... So over the last 24 hours the ETH balances on all exchanges dropped yet another 1.58% to -15,495,629.45 ETH... and this is regularly occurring on a daily basis...

BTC: According to Glassnode, at the time of this writing, BTC has seen a decrease in inflows down to 38,416.34 deposits of 53,355 BTC and 44,079.05 withdrawals of 45,570 BTC... leaving exchange balances down to 2,358,565.18 BTC over the past 24 hours...

So, with Grayscale accumulating for their ETH product and the CME offering futures as of the beginning of February what do you think is really happening? And add to it the fact that, the ETH and BTC and their supply has been increasingly dropping over the past 4 weeks? 

Oh... and did I mention BlackRock is now entering the crypto markets?

So why is the BTC price down? It's dropping because the Institutions are making it so they have a position in what's to occur... the USD isn't going up... the economy isn't going to recover for years... and the new administration here in the US will simply print away...

Well... IMO, with OE on 1/29, we are at the beginning of the next leg up and as of Friday 1/29 or just prior to, things will begin to appear very different...

... and quit worrying about the FUD put out by X-telegraph and the like... they're phull 0S...

[ThisIsNoGame]

Great post. That's why I come here..... Some things to digest for sure....Thanks for sharing

[Bagofhammers]

Excellent post. The deficit on availability will eventually drive a significant increase in prices. Simple economics. Contrary to pundits, this isn't a bubble, it's simply the nature of what the market makes it. 

[BCherb]

Nice investigation report, what's OE on 1/29?

[BCherb]

... Ahh... Options Expire : "A record $3.7 billion in Bitcoin options are set to expire on January 29 as interest in cryptocurrencies surges. Bitcoin options worth a record $3.7 billion are set to expire at the end of the month. The surge in the Bitcoin price has helped the options market expand rapidly."

[MxwllSmrt]

Sorry it took so long to respond.... I see you now know what OE is... MS