Willy Woo, on-chain Bitcoin analyst and writer of the Bitcoin Forecast, a market intelligence newsletter, and Rafael Schultze-Kraft, co-founder and CTO of Glassnode, discuss Bitcoin and what the on-chain metrics tell us about the price. Here to discuss is. Episode highlights:

what factors pushed the price of BTC down in May
why Elon’s Twitter account hold so much sway over the market
why Willy believes Bitcoin is good for renewable energy
who sold during the last month
which type of BTC investors stopped purchasing in Feb/March
what trends Willy and Rafael have noticed from coins moving to/from exchanges
their thoughts on exchange-traded products, like GBTC and Canadian ETFs
how derivatives trading has played a role in Bitcoin’s price
why stablecoins were trading above their peg in the months leading up to the Coinbase direct listing
how Willy values Bitcoin (specifically using NVT ratio)
whether the trend of corporate treasuries investing in Bitcoin will continue
how they expect Ethereum's adoption of a deflationary monetary policy to impact the price of Bitcoin
when the market could turn bullish once again and predictions for the rest of the year