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Willy Woo Profile picture
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23 Mar, 4 tweets, 2 min read
The 2015 -> 2017 bull market
"Making a name"

Density map of the coin supply at the price they last moved. #Bitcoin
The 2012 -> 2013 bull market
"Mt Gox and Silkroad"
The 2019 -> 2021 bull market
"The Herd"
"Climbing the monetary mountain"

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More from @woonomic

Willy Woo Profile picture
19 Mar
A tale of 3 charts...

From March 2020, #Bitcoin undergoes steep and continued supply shock in sync to USD money printing.

1) Speculative inventory on exchanges deplete.
2) Supply held by speculative "weak hands" deplete.

These are the coins held by wallet users that have a history of selling coins.

This is conservative as BTC held by "strong hands" using exchanges as custody will be classified as "highly liquid" / "weak hands" in this chart.
3) USD money printing took a steep inflationary jump starting March 2020.
Read 6 tweets
Willy Woo Profile picture
16 Mar
Appreciate the dialog @ki_young_ju.

1) me: Whales dumping Gemini is bogus data
2) @glassnode: it's an internal transfer
3) @cryptoquant_com: it's an external transfer
4) @coinmetrics: it's BlockFi

Me: warning 28,300 traders of whales dumping needs fact-checking.
Full chrono breakdown of events as they came to me.

TLDR; Ultimately we have a responsibility to fact-check and take all due care before releasing data.
Markets dumped immediately after @cryptoquant_com issued a warning of Whales dumping into Gemini.

It's actually the second time in a month that this occurrence has happened.
Read 11 tweets
Willy Woo Profile picture
16 Mar
The @cryptoquant_com "data error" debate.

Did a whale send in 18k of BTC into Gemini to dump the markets? Or was it a data error?

This alert was sent out to 28,300 traders warning of whale dumping. Speculators sold off minutes later.
This chart shows Gemini prices vs the average of Coinbase and Binance.

When the warning was sent out to traders, Gemini price did not dip relative to others which is what dumping there would look like. In fact it rose indicating net purchasing on that exchange.
Gemini trades $100m-$200m per day; that's insufficient liquidity to absorb a $1b sell. Price moves 2% on a $2m order there.

It makes no sense sell on Gemini.

Data: @coingecko
Read 7 tweets
Willy Woo Profile picture
30 Jan
While we are in the first great consolidation of the 2021 bull market, here's a bunch of charts to get the feel of where we are in this bull cycle.

👇
SOPR tracks profit-taken when coins being sold. It hit the 1.0 line which means we completely reset. To go lower we'd need to have investors sell at a loss. This would need a bear phase (that's is NOT on the cards with the current setup) Image
Here's how it looks in the longer time frame (1 week SOPR). Pretty close to a full reset, Elon kind of screwed with it, bounced us early. Image
Read 7 tweets
Willy Woo Profile picture
23 Jul 20
Commenters didn’t like these objective data points and missed the point that stablecoins are increasingly used for transmission of funds and securitising trade settlement.

It’s not just used for hedging from bearish crypto price action like the old days.
Bitcoin’s cap is tiny next to demands of global remittance and trade. Here you get a sense of just how small and early Bitcoin in its life cycle compared to where it needs to be to serve the finance world in a meaningful sense.
On a markets analysis note, some of us have been using USDT cap vs BTC cap as an oversold / overbought fundamental macro indicator, this signal is likely to be less effective in future given the changing use cases of Tether.
Read 4 tweets
Willy Woo Profile picture
18 Nov 19
How I explain Bitcoin to normies...
Bitcoin is the first invention of something on the Internet that cannot be copied. When something is scarce, it can store value, fine art and gold are some examples.
Here's some buckets that people store value in:

Gold: $8T
Stocks: $75T
Fiat: $90T
Real Estate: $220T

And now, we can store value online...

Bitcoin: $150B

We are in a post-industrial Internet age.

Bitcoin is growing from being a thimble to a bucket.
Read 13 tweets

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