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2.47M BTC

10/27/21

-21% from

March ‘20 Peak

3.14M BTC

03/13/20

Bitcoin: Exchange Balances Secular Decline Continues

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Bitcoin: Long-Term Holder ‘Supply Shock’ Ratio

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4.45 Peak

10/18

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Bitcoin: 90D CDD Historic Lows Near ATHs

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At historic lows in a bull cycle, holders waiting for higher prices

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Bitcoin: Percent BTC Margined Open Interest

70.1%

4/17/21

45.9%

10/27/21

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CME BTC Futures Annualized 1-Month Basis

23.8%

10/20/21

BTC Futures ETF

Rumors Heat Up

0-6% Basis

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Bitcoin: Perpetual Futures Funding Rate

Bitcoin: Perpetual Futures Funding Rate

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Bitcoin: Futures Annualized Rolling Basis

16.6%

11/3/21