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Willy Woo, on-chain Bitcoin analyst and writer of the Bitcoin Forecast, a market intelligence newsletter, and Rafael Schultze-Kraft, co-founder and CTO of Glassnode, discuss Bitcoin and what the on-chain metrics tell us about the price. Here to discuss is. Episode highlights:\n what factors pushed the price of BTC down in May\n why Elon\u2019s Twitter account hold so much sway over the market\n why Willy believes Bitcoin is good for renewable energy\n who sold during the last month\n which type of BTC investors stopped purchasing in Feb/March\n what trends Willy and Rafael have noticed from coins moving to/from exchanges\n their thoughts on exchange-traded products, like GBTC and Canadian ETFs\n how derivatives trading has played a role in Bitcoin\u2019s price\n why stablecoins were trading above their peg in the months leading up to the Coinbase direct listing\n how Willy values Bitcoin (specifically using NVT ratio)\n whether the trend of corporate treasuries investing in Bitcoin will continue\n how they expect Ethereum's adoption of a deflationary monetary policy to impact the price of Bitcoin\n when the market could turn bullish once again and predictions for the rest of the year\n \xa0\n Thank you to our sponsors!\n E&Y: https://ey.com/globalblockchainsummit\xa0\n Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2\xa0\n Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero\xa0\n \xa0\n Episode Links\n \xa0\n Willy Woo\n Twitter: https://twitter.com/woonomic\n\n Substack: https://willywoo.substack.com/\n\n Charts: http://charts.woobull.com/\xa0\n \xa0\n Rafael Schultze-Kraft\n Twitter: https://twitter.com/n3ocortex\xa0\n Glassnode Blog: https://insights.glassnode.com/author/rafael/\n\n Medium (no posts in 2021): https://medium.com/@neocortex\xa0\n \xa0\n Glassnode\n Website: https://glassnode.com/\xa0\n Twitter: https://twitter.com/glassnode\xa0\n Crunchbase: https://www.crunchbase.com/organization/glassnode\xa0\n \xa0\n Willy on BTC trends:\n NVT 2021 re-hash: https://twitter.com/woonomic/status/1399644889596370950\xa0\n User growth on BTC network: https://twitter.com/woonomic/status/1396716391940575232\xa0\n Exchange flows are bullish: https://twitter.com/woonomic/status/1395350421187690500\xa0\n The movement to strong holders is unprecedented: https://twitter.com/woonomic/status/1391209800252358658\xa0\n BTC undervaluation: https://twitter.com/woonomic/status/1389145220432859144\xa0\n \xa0\n Rafael on BTC trends:\n Investors becoming fearful: https://twitter.com/n3ocortex/status/1394922200923312132\n\n Bear market?: https://twitter.com/n3ocortex/status/1394312942678679559\n\n Why on-chain exchange metrics are difficult to analyze: https://insights.glassnode.com/exchange-metrics/\xa0\n BTC ownership is not highly concentrated: https://insights.glassnode.com/bitcoin-supply-distribution/\xa0\n BTC illiquidity: https://insights.glassnode.com/bitcoin-liquid-supply/\xa0\n \xa0\n Glassnode on BTC trends:\n May 31 recap: https://insights.glassnode.com/the-week-on-chain-week-22-2021/\xa0\n May 24 recap: https://insights.glassnode.com/the-week-on-chain-week-21-2021/\xa0\n December buyers approaching cost basis: https://twitter.com/glassnode/status/1399757635512066052\xa0\n Battle of Bulls vs. Bears: https://twitter.com/glassnode/status/1399231089764360192\xa0\n Grayscale discount: https://twitter.com/glassnode/status/1397059742019686400\n\n Deleveraging futures market: https://twitter.com/glassnode/status/1395771367958581251\nLearn more about your ad choices. Visit megaphone.fm/adchoices