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TBL Liquidity Meets On-Chain Data: A Collaboration with Checkonchain

James Check (Checkmatey), Nik Bhatia, and Augustine Carrasco

Aug 13

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Dear Readers,

As you all know, our specialty has always been the overall macro environment, given our founder’s background as a US rates trader. However, due to bitcoin’s unique characteristics, the asset has not always followed markets. In fact, part of our Mean Median Mode report is a pure correlation analysis, where we oftentimes find bitcoin breaking its co-movement with the overall stock market.

Bitcoin’s idiosyncrasies make our job as researchers span beyond the macro setup. Bitcoin analysis separates itself from that of other assets thanks to the blockchain’s transparency. And although we continue learning on-chain analysis on our own (we even brought in Johan, our very own on-chain analyst), there’s no better way to learn than from the very best.

Needless to say, James and the Checkonchain team are the experts in this field, and we want our readers to continue deriving value from their TBL Pro subscription.

As such, we are excited to present to you our first (with more to come) collaboration with the Checkonchain team.

If you haven’t already, don’t forget to subscribe to Checkonchain’s newsletter. Their team is putting out nothing but signal:

Check them our here

Nik’s On-Chain Journey:

When I first discovered on-chain analysis, there was something I couldn’t unsee. The pattern observed was a bitcoin price that would take off into the stratosphere, only to gently (or violently) land around something called realized price.

From that point on, I knew that the only way to achieve sound bitcoin price analysis was by understanding the concept of realized price, which meant an exploration into the movement of UTXOs on the bitcoin blockchain.

Now, we cannot operate The Bitcoin Layer without sound on-chain analysis, relying on our own quantitative work and the expertise of our pal Checkmate.

Subscribe to The Bitcoin Layer to unlock the rest.

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