#Bitcoin,as a risk-on asset, has no defensive nature which means it will fail to sustain the current scarcity bubble if a large global equities sell-off anticipated. But still, selling spot does not make sense here.
As a heads up, we are 841 days away till next halving.
High perp funding makes arbitraging lucrative again which will always liquidate some bulls on lower time frames. Either btc pushes higher with a solid break-up or back to the grind up region down to 56k, following a more neutralised funding fees. #BTC
The Crypto market is becoming extreme greed. If you play leverage,don’t forget to book your profits when the funding rate is high.
Let’s see if we can have a leg-up before mini-dump
#Bitcoin long/short ratio is 1.2, indicating a relatively neutral view from the experienced traders. However,ETH top traders are holding a bullish bias, with a long/short ratio at 1.9. Meanwhile, the market volatility is decreasing, calling for a big move ahead.
The Mayor of Cool Valley (A city in U.S.) believes that #Bitcoin could hit $500,000 years later and is raising funds to give $1000 bitcoin to the local residents.
These give-aways would be in a vesting schedule, so the households are not able to sell them for a number of years.
Today, $154B is sitting on Ethereum DeFi, showing a robust recovery for the past month. In particular, TVL is actually in sync with the ether price action. The Fundamentals just favor Ether long-term trend. Personally, I won’t cut any spot exposure size.#Ethereum
Ether exchange reserves dropped dramatically for the past two month, the lowest on record since 2019. We will see this trend continuing while ethereum is far from reaching its use cases.
Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD.
The beta value below measures how volatile a coin’s price compared to Bitcoin.
When the market suggests sideways to lower bias,you can always pick some higher beta alts to leverage your hedging capability( for spot position).
#BTC