Tough spot for Kaspa. Lots of good work going on in the background but supply is coming back onto exchanges and weโre in between memes and stablecoin rails. Could see a small miner capitulation unless the fee market picks up. Patience needed here. Iโll be buying 0.1 if we get it.
Around 2 weeks later, the 0-5% depth in spot orderbooks of $BTC has once again flipped positive.
This shows an imbalance toward the bid side (limit buys), indicating demand > supply.
@CredibleCrypto Cred you mentioned that impulsive price action doesn't break below levels. Post FOMC that has been the case. Does this affect your view? Also whales have flipped long. https://t.co/jFXuD9TpyP
The global average of Whale vs Retail Delta (across all tickers) has started trending up (white line).
We also see a similar trend across $BTC and $ETH
BTC seems to be trending up faster than ETH
@CredibleCrypto You probably noticed record engagement on bearish bias before FOMC. Ironically it takes reassurance from a great trader for these moves to be chased(I acknowledge that you donโt try to provide certainty but just thatโs what most people wanted to hear)
@CredibleCrypto Structure may not have broken yet but ignoring the effect that rate hikes had + Gold & S&P all time highs means that by the time you get invalidated on a 70k short you've missed a few liquid 2x's on alts. Also price leads narrative. Even if move isn't impulsive spot might chase.