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2022 Bitcoin Comprehensive Review: Data and Changes Under the Bear Market
In 2022, affected by the global liquidity tightening, Bitcoin ended the bull run of the previous two years and entered a volatile downward Bear Market. The coin price fell below $20,000, leading to a series of collapses among major exchanges and protocols, severely damaging market confidence. This article comprehensively reviews the data changes of Bitcoin in terms of the trading market, on-chain fundamentals, chip structure, mining, applications, and other aspects, providing an analytical basis for the outlook for the coming year.
Main content summary:
Bitcoin's annual decline exceeds 65%, showing a "stair-step" decrease. The exchange's Bitcoin inventory has decreased by 20.20%. After October, the market leverage ratio fell from a high of 40.47% to below 30%. Institutional holdings have gently decreased by 4.54%, and the OTC premium rate has dropped to -44%.
The number of active on-chain addresses has decreased compared to last year, but remains relatively stable. The total number of transactions throughout the year is 88.99 million, a decrease of 4.13% from last year. However, the total transaction amount is 1.256 billion BTC, an increase of 36.37%. On-chain transaction fees show a clear downward trend.
The average profit chip ratio is 60.50%, while the annual average of 40% of chips are at a loss. The concentration of chips in "whale" addresses first rises and then falls. The proportion of small addresses and addresses with extreme holding periods is increasing.
The overall network hash rate has gently increased by 11.21%, but the income per unit of hash power has decreased by 76%. The overall selling pressure from miners is not significant, with an MPI average of -0.52.
The number of Lightning Network channels decreased by 18.53%, but the funding capacity increased by 46.19%. The circulation of WBTC decreased by 24.48%, indicating a reduced connectivity with other ecosystems.