PLUS: Exclusive early access to Tuur's Q3 2025 presentation, Charting Our Way Through Chaos.

Read the latest report from Adamant Research

This updated edition of How to Position for the Bitcoin Boom is the first-ever mid-cycle report from Adamant Research and Tuur Demeester—covering bitcoin's structural drivers, sentiment, and onchain metrics in the third quarter of 2025.

What’s in the report?

A closer look at the state of bitcoin in what could become one of the most significant bull runs in its history.
Why blockchain analysis indicates that most bitcoin is still held by strong hands
Why bitcoin is continuing to decouple from other crypto, stocks, and bonds
How the global macro predicament is a powerful tailwind for bitcoin
Why bitcoin nation state adoption could be just getting started
A look at collaborative custody as a good option for novice investors
The latest bitcoin price outlook from Adamant Research
Marketing Disclosure: By downloading this report, you accept and opt into receiving marketing material from both Unchained Capital, Inc. (along with all of its subsidiaries and affiliates, collectively “Unchained”) and Adamant Research. If in the future I wish to cease receiving marketing communications, I understand that Unchained and Adamant Research each have separate opt-out procedures, as detailed below. To stop receiving communications from both parties, I understand I must follow the opt out procedures of both parties.

Marketing materials do not reflect the views and opinions of Unchained. Unchained does not provide tax, legal, or investment advice. Any recipient of these materials should consult with an attorney, tax accountant, or licensed financial advisor to obtain advice on any matters related to these marketing materials.

To opt out from communications from Unchained, please visit Unchained’s Opt-Out Page. For information about Unchained’s privacy and data protection policies and practices, please visit Unchained's Privacy page. To opt out from communications from Adamant Research, please visit Adamant Research's Opt-Out Page. For information about Adamant Research's privacy and data protection policies and practices, please visit Adamant Research's Privacy page.