Crypto Thrives as a Global Payments System and an Escape Pod
Mar 3, 2022
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Key Takeaways
We continue to focus on the key narratives surrounding bitcoin and assess recent adoption trends driven by Russia’s invasion of Ukraine. We review on-chain data (realized cap, STH SOPR, and wallet addresses) to determine whether there is a sustained level of organic demand supporting the recent uptick in bitcoin’s price. Recent price action gives us some confidence that there will be buyers that step up in the $34k-$35k area should we witness another bout of downward pressure on BTC price. Bottom Line: With global momentum building for 3 out of 4 of our potential catalys...