Chart of the Day
Tip of the Day: In a bull market, you might want to keep an eye on Spent Output Age Bands (SOAB).
Ushering the Lunar Year of the Ox on a bullish note. Hot flames — represented by dark colors in the Spent Output Age Bands (SOAB) — show the relative size of long-term holders taking profits. It usually indicates that the top is in. In comparison to the sudden surge in long-term HODLers taking profits slightly after the peak in 2018, we are probably in a good place — for now.
Talk of the Town
Mustering a case for Bitcoin — U.S.-based payments provider, MasterCard, istreading in the steps of its all-time rival, VISA. The credit card giant’s decision to support selected cryptocurrencies joins the growing chorus of big names in pledging similar support to propel mass adoption — just the kind of endorsement we need that underscores the increasing importance of digital assets in the payments world.
Meanwhile, on the jobs front, a dour picture unfolds stateside. Federal Reserve Chair Jerome Powell warned on Wednesday of the nation’s employment fragility, notwithstanding the current supportive monetary policy. One more reason to fear inflation. Do you know what has performed exceptionally well as an inflation hedge? Wink wink