ARE WE AT DEC 2020 (ROCKET-LUNCH) LEVEL AGAIN?
🧵/1. Here in this 🧵we look at the market structure from #onchain & #FuturesMarket perspectives and compare it with Dec 2020, when the price was breaking above the 2018's (20K) ATH for second time!
🧵/1. Here in this 🧵we look at the market structure from #onchain & #FuturesMarket perspectives and compare it with Dec 2020, when the price was breaking above the 2018's (20K) ATH for second time!
🧵/2. First, looking at the Monthly-Realized Profit Oscillator, we can see, similar to Dec 2020, market is approximately realizing equal to 5% of the total #RealizedCap monthly. This means we have not witnessed the old coins realizing profit at a concerning rate yet ( >10%). 
🧵/3. The #FuturesMarket also has the same sentiment that the market had in Dec 2020. The #FundingRate is rising gradually, and #OpenInterest momentum (30D-RSI) has dropped (after reaching a new ATH; 67K) to the same level we saw in Dec 2020; 20K>18K> 🌙(Dec 20) = 67K > 58K > ?
🧵/5. In a previous post on @cryptoquant_com , I explained how to estimate the #SmartMoney Distribution/Accumulation phases.
https://twitter.com/CryptoVizArt/status/1453530316589707270?s=20
🧵/6. Interestingly, less than 4% of the current supply is in loss, which could be driving force for retailers. That said, the 30D-MA of Binary CDD (estimate the intensity of old coins spending) confirms that old hands are not willing to distribute at a notable pace yet; < 0.8.
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