#1478 Will Clemente | Is The Bitcoin Bull Run Over?

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Jan 29, 2025

Will Clemente, co-founder of Reflexivity Research and on-chain data expert, dives into the ever-changing world of Bitcoin. He discusses the diminished utility of on-chain data amid institutional influences like ETFs, and the significant impact these funds have had on the market. Clemente also sheds light on aggressive corporate Bitcoin acquisition strategies, including a company holding over 470,000 Bitcoins. Additionally, he explores the rise of meme coins, AI-driven cryptocurrencies, and the lessons learned from trading missteps in this volatile landscape.

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INSIGHT

On-Chain Data's Diminished Usefulness

On-chain data's usefulness for trading has diminished due to obscured flows from ETFs and off-chain activity.
Traditional venues and increased TradFi integration further complicate transparent data analysis.

INSIGHT

ETFs Open Bitcoin to New Investors

ETFs opened Bitcoin to new investors like boomers uncomfortable with crypto exchanges.
ETFs also reduced career risk for traditional investors allocating a small percentage to Bitcoin.

INSIGHT

MicroStrategy's Bitcoin Strategy

MicroStrategy leverages debt to buy Bitcoin, acting as a speculative attack against the dollar.
While share dilution occurs, Bitcoin per share increases, benefiting Bitcoin-bullish investors.

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Will Clemente is the co-founder of Reflexivity Research. In this conversation we talk about bitcoin, on-chain data, ETF’s, MicroStrategy, AI coins, meme coins, and some of the lessons Will has learned over the years.

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