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📒 BTC: Support and Resistance

This SQL query presents an analysis of the Bitcoin (BTC) market with the aim of identifying support and resistance levels based on various metrics.

📒 BTC vs USDT 30d Change

This SQL provides insight into the relationship between the price of BTC and the market capitalization of USDT. Specifically, the "change", "positive", and "negative" columns show how the market capitalization of USDT has evolved over a 30-day period.

A rising market cap for USDT could suggest an increased demand for stablecoins, possibly indicating traders are moving assets into USDT as a hedge or in anticipation of trading. By observing both BTC's price and USDT's market cap trends, analysts can infer market sentiments and potential future movements. For example, a sharp increase in USDT market cap accompanied by a stable or declining BTC price might suggest that traders are moving their assets out of BTC and into USDT.

📒 BTC: Net Unrealized Profit/Loss by Cohort

The SQL query analyzes the BTC market from the perspective of unrealized profit/loss for both short-term (STH) and long-term holders (LTH). By comparing metrics like NUPL, market capitalization, and realized capitalization for the STH and LTH cohorts, one can gain insight into market sentiment and the behavior of investors from these cohorts.

📒 BTC: Open Interest 7d Change

This SQL query is designed to analyze the open interest in the Bitcoin (BTC) market over the last 300 days. The query displays the dynamics of changes in open interest and BTC price, as well as the percentage change in open interest on a weekly basis. These data can help analysts understand how trader activity on the BTC market has changed in the context of its price.

📒 Bitcoin Price Temperature (BPT)

Bitcoin Price Temperature (BPT) is an oscillator that models the number of standard deviations by which the price has deviated from a 4-year moving average.

Compare past cycles with the current "heating" before a bullish rally.

🔵 4 Year Moving Average

🟢 4-Year Moving Average +2 Sigma

🟠 4-Year Moving Average +6 Sigma

🔴 4-Year Moving Average +8 Sigma

The 4-year moving average represents the average cost of Bitcoin over the last 4 years. It can serve as a baseline or "norm" for the current Bitcoin price.

+2 sigma indicates a price level that is 2 standard deviations above average. If the price reaches or exceeds this level, it might indicate a potential overvalued state of the market.

+6 sigma and +8 sigma represent even higher deviation levels from the norm. The higher the price relative to these levels, the greater the likelihood that the market is in a "bubble" or extreme overvaluation state.

If the Bitcoin Price Temperature (BPT) is at levels above +2 sigma, investors might consider it a warning of possible overvaluation and increasing risk.

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