Oct 29, 2021
Date: Thursday 28th October
In June, with the Bitcoin price in the low $30 thousands following a 50% drop, a number of technical analysts believed the top was in and that we were entering another prolonged bear market. However, the on-chain data told a different story and Willy Woo, amongst others, believed the bull market was still alive.
The past few months have proved the case for the on-chain analysts. In October alone, the price of Bitcoin is up over 40%, and on the 20th, it broke over $66k, a new all-time high.
The launch of the first US Bitcoin futures ETFs was a significant driver of this price rally, with futures ETFs facilitating access to deep pools of capital liquidity and risk-neutral trades.
How will this impact the market, and what can we expect from phase 2 of the bull run?
In this interview, I talk to an on-chain analyst and the co-founder of Hypersheet, Willy Woo. We discuss the impact of Bitcoin ETFs, the next stage of the bull market and the role of toxic maximalism.