Despite Macroeconomic Turmoil, Bitcoin Holders Remain Unfazed Today

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The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

As we’ve noted in previous Daily Dives and analyses, we’re far more concerned with the current macro environment and the scenario of a violent credit unwinding in the market relative to the state of on-chain indicators and health of the derivatives market. We’re anticipating more downside before more upside in the short to medium term. Although there have been signs of bitcoin responding positively to the rising uncertainty and geopolitical conflict (as seen by Russian and Ukrainian exchange volume and a premium on spot buying) — bitcoin as a safe haven asset — it has proven to be an asset to thrive on risk and liquidity.

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