Coinbase ＆ Glassnode：2024 Q1 加密市场投资指南

The guide is a research report jointly created with the company, which deeply analyzes the most critical market indicators and trends for institutional investors. The total market value of cryptocurrency is an important indicator reflecting the market value of global digital assets, covering bitcoin, ethereum, tokens and stable coins. Driven by the strong performance of bitcoin and ethereum, the total market value of cryptocurrency has increased more than that of the first quarter of the cryptocurrency investment guide. Currency dominance measures the market value of a specific cryptocurrency as a percentage of the total market value of all cryptocurrencies. In, with the market's increasingly bullish prospects for spot approval of Bitcoin and the transfer of funds to high-quality assets, the dominance of Bitcoin has increased. Some market participants also regarded the bitcoin in June as a potential price increase catalyst. Historically, the correlation between cryptocurrencies and traditional asset classes was low, and the year was an exception. Assets all fell synchronously, but the market returned to the historical normal in, which indicates that cryptocurrency will become one of the sources of unsystematic risks. In the first quarter, the diversified allocation of cryptocurrency will help traditional portfolios spread risks and improve returns. In this table, we analyze a global stock index launched by Morgan Stanley Capital International and a broad index of the US bond market. The effect of allocating a small amount of core index is that a cryptocurrency index based on market value weighting is rebalanced every quarter, in which the weights of Bitcoin and Ethereum are respectively and together. The near-set period is from year to month, covering two major fluctuation cycles of cryptocurrency market. The results show that the absolute return and risk-adjusted return of the portfolio have been improved after joining. The investment guide of cryptocurrency market in the first quarter is to stabilize the currency circulation supply and stabilize the currency, which is a digital currency aimed at maintaining a stable value. They are usually linked to the US dollar or other legal tender at a fixed exchange rate, and hold corresponding reserve assets. The stable currency backed by legal tender occupies the dominant position in the stable currency market. Market participants should focus on the quantity and type of their reserve assets when evaluating the stable currency. Investment guide for the encrypted market in the first quarter Bitcoin price and market value The annual increase of Bitcoin price exceeds that of market participants, who are encouraged by many factors, including the slowdown of inflation and the exchange-traded funds of spot cryptocurrencies. The possibility of approval increases. The price performance of the encrypted market investment guide in the first quarter since the low point of the cycle. Bitcoin has gone through four complete bull-bear cycles. In this chart, we can observe the comparison between the current market cycle starting in and the previous cycle. In the first quarter, the encrypted market investment guide, Bitcoin entities hold the adjusted net unrealized profit and loss. Net unrealized profit and loss refers to the difference between the relative unrealized profit and the relative unrealized loss, which is adjusted to exclude the same entity address. In order to measure the actual economic activities more accurately and provide more optimized market signals than unadjusted, the investment guide of cryptocurrency market in the first quarter provides profitability. The circulation supply of cryptocurrency consists of all currencies with loss supply cost basis higher than the current spot price and all currencies with profit supply cost basis lower than the current spot price. Observing the profitability of supply helps to reveal the position of cryptocurrency price in the current market cycle. The period has the characteristics of three stages: the bottom discovery period is in the last stage of the bear market, when the long-term price depreciation leads to the increase of the proportion of loss supply, the percentage of profit supply is dominant during the bull market, when the price shows a parabolic upward trend, the percentage of profit supply is dominant, and the transitional period between the bottom discovery period and the fanatical period is between the bull and bear. At this time, the supply profitability is closer to equilibrium, and the percentage of profit supply is encrypted in the first quarter between and. Market investment guide Daily active address number Active address number refers to the number of unique addresses in the network that remain active as the sender or receiver. This indicator is very important for measuring user acceptance, network conditions and economic activities. The first quarter encrypted market investment guide Daily active entity number Although the number of active addresses is an important indicator, a single entity can have multiple addresses, so we also need to pay attention to the number of active entities. Entities are defined as a group controlled by the same network entity. These address clusters are estimated by advanced heuristics and proprietary clustering algorithms. Here, advanced heuristics refer to a complex method or technology based on empirical knowledge and observation patterns, which is used to estimate or make decisions under the condition of incomplete information. The total supply held by long-term holders in the first quarter is defined as investors who have held cryptocurrency for at least days. This holding period usually means that these assets are highly likely to be sold. Therefore, observing the activity pattern of long-term holders can be used as an effective indicator to predict the periodic fluctuation of cryptocurrency market, helping to identify potential peaks and valleys. The annualized monthly volatility of cryptocurrency investment guide in the first quarter shows a steady downward trend with the maturity of cryptocurrency as an asset class and the increase of institutional participation. The monthly realized volatility of cryptocurrency investment guide in the first quarter is used to analyze the realized volatility of one month to identify potential. At the turning point of fluctuation, if the volatility deviates from the monthly average by more than one standard deviation, it is more likely to reverse. In the first quarter, the realized price and the realized price refer to the average price of cryptocurrency supply, which is calculated according to the value of each currency on the last trading day in the chain. It is usually regarded as the chain cost basis of the market, which is the abbreviation of market value and realized value. It indicates the market value, and the ratio between spot price and realized value means the current price. It is twice the average cost basis of the market and twice the average holder's profit, which means that the current price is equal to the average cost basis of the market. The average holder is at the breakeven point, which means that the current price is lower than the average cost basis of the market. The extreme value of the average holder's loss can reveal the period when the market is overheated or underestimated and the period when the investor's profit is far above or far below the average level, that is, the realized price. This chart shows the ratio and the period when the six-month simple moving average used as a momentum indicator is above six months, which usually describes the upward trend of the macro market and below it. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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