What Bitcoin Did

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The Bitcoin Bull Market Phase 2 with Willy Woo

Peter McCormack

Interview | Description | Timestamps | Show Notes

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The Bitcoin Bull Market Phase 2 with Willy Woo - WBD416 Peter McCormack

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Location: Remotely
Date: Thursday 28th October
Company: Hypersheet
Role: Co-Founder

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.

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00:02:47: Introductions
00:04:14: Bitcoin ETFs
00:08:36: Cycle maximalism
00:12:33: The cash-and-carry trade
00:20:44: Changing data and Glassnode metrics
00:24:50: Long-term hodling patterns
00:32:27: The record SHIB trade
00:36:04: Toxic maximalism
00:43:00: China and the mining ban
00:46:41: Antonopoulos 2014 Canada Testimony
00:54:52: The Winklevoss twins vs Zuckerberg
01:00:29: Final comments

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If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

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