I'm seeing a number of positive developments that supports an intermediate-term bullish bias. The current weight of the evidence points to further upside in the coming months.
Bitcoin continues to move higher following its retest of the 60,000 support level. The short-term trends in crypto markets are higher, which aligns with equity markets making new highs.
Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.
I can't help but notice the growing attention around real world assets (RWAs), more specifically the relative strength coming from this space and the backing of many prominent funds and investors.
Every week, we create a Power Rankings table that lists the market-cap rank of the top 20 cryptocurrencies. This allows us to see the winners and losers as they climb the market-cap ladder.
GameStop and a number of speculative meme stocks have rallied in tremendous fashion this week. At the same time, we've yet to see this activity catch on in the crypto space.
I think as animal spirits reignite in this speculative securities, we'll eventually see a natural rotation that will bid higher a variety of meme coins in the crypto space.
Today's letter is a look at a variety of individual names and how I'm seeing this entire dynamic through the lens of the crypto asset class.
There's no denying that the trends in crypto have been rather messy over the last few months. Bitcoin and most crypto assets have been consolidating their gains and many cryptocurrencies are either rangebound or trending lower in short timeframes.
Here's this week's crypto roundup. It's an opportunity for us to take a step back, set aside the distractions, and delve into the key charts shaping the crypto complex.
This week, I walked through Bitcoin's price action, the divergence taking place between equities and Bitcoin, the lack of new highs, and two cryptocurrencies that have my attention.
Every week, we create a Power Rankings table that lists the market-cap rank of the top 20 cryptocurrencies. This allows us to see the winners and losers as they climb the market-cap ladder.