EMC Labs Lianchuang: We have bid farewell to the bull market recovery period and officially entered the bull market acceleration period

Original source: @Shang2046, EMC Labs Lianchuang

Editor's note: As Bitcoin broke through $70,000, setting a new high, market sentiment was high. If some people have questioned whether we are in a bull market before, then what should be discussed now is which stage of the bull market we are in? Hong Kong Compliance Bitcoin Fund Victory EMC BTC Cycle Fund Parent Company EMC Labs Lianchuang  , released last week’s BTC market summary on X today, and analyzed macro information, changes in market supply and demand structure, fundamentals and Multiple analysis of EMC BTC Cycle indicators determine that we have entered a period of bull market acceleration. Rhythm BlockBeats organizes its tweets as follows:

BTC summary from March 3 to March 10

The financial situation is extremely strong, and it has officially entered the bull market acceleration period. Market summary: Before and after breaking through 69,000 US dollars, the market experienced several surges and falls. On March 5, it recorded a daily decline of 6.67%, with an amplitude of 14.7%.

It is normal for market sentiment to fluctuate at record highs. Currently, the average profit of short-term investors has dropped slightly from 40% to 37%. It is estimated that there are a small number of short-term investors. Investors cashed out and left the market before and after breaking all-time highs.

However, the shock does not change the optimism of the fundamentals. As the leading trading platform in this recent round of market conditions, the trading volume of Coinbase in the United States has continued to grow for two consecutive weeks, and from the perspective of the market as a whole, Looking at the supply and demand structure, the financial performance is extremely strong. Even if there is a correction in the market, the probability is similar to the rapid rise from 48,000 to 39,000 two months ago.

Supply and demand structure

Last week, the net inflow of US BTC spot ETFs remained strong, especially On March 5, the largest net inflow after the first day of ETF approval in January reached US$966 million. Throughout last week's trading day, a total of $1.979 billion was inflowed, which was basically the same as the previous week. In the two months since its adoption, the overall net inflow of the U.S. Bitcoin spot ETF has exceeded 177,900 pieces, and net buying funds may have exceeded US$10 billion. This figure was not anticipated by even the most optimistic institutional forecasts.

It should be pointed out that IBIT, a subsidiary of BlackRock, is about to hold 200,000 BTC. BlackRock’s recent actions are particularly noteworthy. It is submitting allocation exposure to BTC ETFs for two of its fixed income funds, which have more than $50 billion under management. It can be believed that this is just the beginning of its systematic open management fund allocation. ETF managers such as Fidelity and ARK will also follow this "conspiracy."

The net inflow of USD stablecoins priced in BTC last week was approximately US$3.64 billion, a week-on-week increase of 500%. It was also the first time in 2 months that the weekly net inflow exceeded that of ETFs. The net inflow shows that the market is strong and optimistic. Correspondingly, on the OTC channels of major exchanges, USDT once had a premium of more than 5% against the US dollar.

The net purchasing power of major exchanges continued to grow above the high level, increasing from US$6.4 billion last week to approximately US$6.7 billion, showing that the Funds are also in a state of holding currency for purchase.

This week, the exchange’s BTC stock saw a net outflow of approximately 40,000 BTC compared with last week, and the trend of investors accumulating chips continues. According to EMC Labs monitoring: mainstream institutions, organizations and governments around the world hold a total of 2.29 million Bitcoins, an increase of approximately 36,000 from last week.

Fundamentals

The BTC fundamental data we continue to observe, new wallets on the chain Key indicators such as addresses, active entities and transfer fees have all rebounded within 10%. This trend has continued for 2 weeks.

EMC BTC Cycle indicator

It is important to point out that the EMC BTC Cycle indicator has shown us goodbye The bull market recovery period lasted for one year and officially entered the bull market acceleration period (indicator strength is 0.83, complete strength is 1).