Bitcoin needs $1.5B of monthly buying pressure to maintain current prices.
Ethereum needs maybe $100m, depending on fee burn magnitude.
Flippening is already in progress. If we go bear here, BTC and ETH will dump, but ETH will continually grind its way back up. Simple maths.
We broke down the number of new projects we are seeing by chain (last 60 days):
Solana - 31%
Ethereum - 7%
ETH Layer 2 - 11%
Luna - 15%
AVAX - 6%
Thorchain - 2%
Cardano - 6%
DOT/Kusama- 7%
Other - 15%
Follow the DEVS.
#Bitcoin continues to follow a flattened 2017 path since June.
Now anchored at 5 points, if indeed the low is in.
While it's been 160 days, I would be surprised if this continued all the way to the top.
Will track until it breaks.