Quick Take
- One year after the de-pegging of UST, it continued to lose its peg against the dollar.
- We also got the infamous tweet from Do Kown: “Steady Lads, deploying more Capital.”
- During this period for the next month, Bitcoin continued to break lower until it found a bottom in June around $19,000 – $20,000.
- As we start to see, the cohort supply was last active 1+ years ago; this cohort bought within this time frame and has held through this turbulent period.
- Currently, 68% of the supply would be under this cohort, but we expect this number at the end of May and June to be higher and potentially make new all-time highs.
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