LAST WEEK RECAP:
The U.S. CPI increased 0.2% Month over Month in August, the same as expected. The annual rate is 2.5%, which is lower than the expected 2.6% and the lowest since February 2021.U.S. Core CPI increased 0.3% MoM in August vs. 0.2% expected. And 3.2% YoY, the same as estimates.U.S. PPI increased 0.2% MoM in August, the same as estimates. Core PPI increased by 0.3% MoM, slightly higher than the 0.2% expected. The annual PPI and Core PPI increase was 1.7% and 3.2%, respectively.Most debate watchers agreed Harris outperformed Trump in the U.S. presidential debate, although crypto was not mentioned. Polymarket shows Trump winning odds at 49% and Harris at 51%.Grayscale launched XRP trust in the US.Spot BTC ETF recorded four days of net inflows in the last week.MicroStrategy purchased another 18,300 BTC between August 6 and September 12, an average of $60,408. As for now, MicroStrategy holds 244,800 BTC, an average of $38,585.Binance introduced Hamster Kombat (HMSTR) and Catizen(CATI) on Launchpool.Trump safe after being targeted in a second apparent assassination attempt in Florida.
LEGACY MARKETS – DXY

DXY is still consolidating on a range low. With the first rate cut expected this week, volatility will likely pick up.
LEGACY MARKETS – VIX

VIX has retraced again to levels below 21 after the intermediate spike. This morning, there was a small rise, likely related to the rate cut uncertainty this week.
BTC WEEKLY VIEW

BTC closed right at 59k. Ideally, this bounce leads to a first higher high, and we see a trend reversal from the ranging/downtrend we’ve been in since March.
ETH WEEKLY VIEW

ETH is still a lot weaker than BTC. For now, the effect of the ETF has been weak, and the ETH/BTC ratio is failing to gain any reversal.
ETH/BTC

ETH/BTC is falling back into the previous range. It's already dropping under the August liquidation wick without proper reaction/bounce. The ETH/BTC ratio is still in a heavy downtrend that’s been accelerating since the ETF launch.
TOTAL3 USD MARKET STRENGTH

Alts are still building a big base, and some select ones are already rallying every time BTC stabilizes.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is still stable but failing to pick up momentum. However, some select outliers have been rallying. To get a wider run, we still think that ETH/BTC needs to pick up strength.
SUMMARY
ALT/BTC pairs are showing a lot of relative strength. With Q4 seasonality-wise being strong months for altcoins, it seems they’re setting up to repeat that, given BTC can stabilize.

LAST WEEK RECAP:

U.S. non-farm payrolls increased 142,000 in August, below the expected 164,000. The U.S. unemployment rate was 4.2% in August, same as estimates.According to ADP, U.S. private payrolls rose by 99K, smallest gain since 2021 and below 114K estimated.VanEck will close Ethereum futures ETF.US BTC ETFs recorded 8 consecutive days of outflows.Uniswap settles with the U.S. CFTC for $175,000 on charges related to derivatives trading.Eigen Foundation announced EIGEN Season 2 Stakedrop.USDT issuer Tether invested $100 million to acquire a 9.8% stake in Latin American agricultural giant Adecoagro.
LEGACY MARKETS – DXY

DXY is consolidating on range low.
LEGACY MARKETS – VIX

As mentioned last week VIX could see smaller spikes. Which it did almost all the way to 24. BTC risked off pretty heavily on Friday.
BTC WEEKLY VIEW

BTC has opened the month of September fairly weak, almost revisiting the lows set in August. For now the ETF flows are following the weakness in stocks. So for BTC to hold up the SP500 will also have to regain strength this week.
ETH WEEKLY VIEW

ETH revisited all the way down to the August low. The low from August is still holding and it’s a common theme for liquidation wicks to get retested with slow chop. If the market is still bullish however crypto should trade upwards in the coming weeks. If the low from August fails the downtrend could continue for quite a while.
ETH/BTC

ETH/BTC is still stabilizing after the August drop. If ETH/BTC is to reverse though it’s going to be from this price range. If it fails and breaks down further it probably trends down all the way back to the lows.
TOTAL3 USD MARKET STRENGTH

Alts are still building base. For so no real updates here. What is noticeable is that as soon as BTC stabilized even for a couple hours last week some alts, especially the binance IEO’s instantly rallied double digit percentages.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is finally garnering some momentum. As mentioned in TOTAL3 part everytime BTC was stabilizing in the downturn last week select alts started rallying. If BTC could actually garner some upward momentum, a lot of alts could easily rally 100-200%.
SUMMARY
ALT/BTC pairs are showing a lot of relative strength. With Q4 being a strong month for altcoins, it seems they’re setting up to repeat that, given that BTC can stabilize.
DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

LAST WEEK RECAP:

U.S. Core PCE was 0.2% MoM, in line with estimates, the annual rate is 2.6%, slightly lower than 2.7% estimated.U.S. PCE increased 0.2% MoM and 2.5% YOY, which are the same as estimated.Nvidia shares fell despite second-quarter results slightly beating estimates, as the market expectation was high. Telegram founder Pavel Durov was released from police custody in France on Wednesday and transferred to court. Trump to announce plan making U.S. the ‘Crypto Capital’.OpenSea received Wells notice from SEC.Maker rebrands to SKY protocol, and DAI will be upgradeable to USDS.
LEGACY MARKETS – DXY

DXY is still at a range low. The longer it consolidates on the lows, the better for crypto and equities. If it starts bouncing aggressively, it could put some pressure on crypto and equities.
LEGACY MARKETS – VIX

VIX is still below 21, with some consolidation happening above the previous 12-14 range. This could still lead to small intermediate spikes. However, how much effect those will have after all the big liquidations is a question.
BTC WEEKLY VIEW

BTC closed the monthly over 59k, and after a brief opening below, the market is already trading over 59k again. 59k is now the pivot level. Below it opens up downside till 50-52k, above which we can see all-time highs.
ETH WEEKLY VIEW

ETH is still consolidating and is quite a bit behind BTC. This is also still reflected in the slow trading of the ETH/BTC ratio. After the significant drop, ALT/BTC and ETH/BTC are rotating.
ETH/BTC

ETH/BTC is consolidating after the tag of multi-year support. The ETH/BTC ratio is still trading “slow,” and the market is waiting for this to gain momentum.
TOTAL3 USD MARKET STRENGTH

Alts are still mostly building base. However, there have already been big bounces across the board. If this structure completely vacates, the run-up should lead to an altcoin ATH in marketcap.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is still flat but holding up well relative to BTC, which indicates underlying alt strength.
SUMMARY
ALT/BTC ratios stayed stable during the significant drop, indicating underlying strength in the altcoin sector against BTC.

DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

This post was prepared by Kairon Labs Trader Patrick Li and Joshua Van de Kerckhove

Edited by: Marianne Dasal

LAST WEEK RECAP:

Powell indicated cut ahead and mentioned, “The time has come for policy to adjust” at Jackson Hole, though he didn't comment on the exact timing or extent.Telegram CEO Pavel Durov arrested at French airport.Babylon mainnet goes live.Magic Eden announced the launch of its new token, ME.Sony to launch Ethereum L2 Soneium to “realize the open internet".
LEGACY MARKETS – DXY

DXY is right on range low, with crypto and equities seeing quite the upward trust. If DXY consolidates or breaks down out of the range, both equities and crypto have a lot of upside.
LEGACY MARKETS – VIX

VIX is still below 21, with some consolidation happening above the previous 12-14 range. This could still lead to small intermediate spikes. How much effect those will have after all the big liquidations is a question, though.
BTC WEEKLY VIEW

BTC closed above 59k on the weekly chart and is now back in the ATH range, which can likely be reached quite quickly at this point after all the liquidations.
ETH WEEKLY VIEW

ETH/BTC is consolidating after the tag of multi-year support. The ETH/BTC ratio is still trading "slow," but as mentioned last week, if there ever was a point for ETH to take over, it's now. There is underlying strength in ALT/BTC ratios, and the NFT market on ETH is also gaining some strength.
ETH/BTC

ETH/BTC after the tag of multi year support it’s consolidating. ETH/BTC ratio is still trading “slow” but as mentioned last week, if there ever was a point for ETH to take over it’s now. With underlying strength in ALT/BTC ratio’s and also NFT market on ETH gaining some strength.
TOTAL3 USD MARKET STRENGTH

Alts are still mostly building base. However, there have already been big bounces across the board. If this structure completely vacates, the run-up should lead to an altcoin ATH in marketcap.
TOTAL3 BTC MARKET STRENGTH

As mentioned last week, TOTAL3/BTC was/is gaining more and more strength relative to Bitcoin. This is usually where the general "alt season" happens.
SUMMARY
ALT/BTC ratios stayed stable during the significant drop, indicating underlying strength in the altcoin sector against BTC.

DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

This post was prepared by Kairon Labs Trader Patrick Li and Joshua Van de Kerckhove

Edited by: Marianne Dasal

LAST WEEK RECAP:
U.S. CPI increased 0.2% MoM in July, which is the same as expected; the annual rate is 2.9%, lower than the 3% expected and the lowest since Apr 2021.U.S. Core CPI increased 0.2% MoM and 3.2% YoY, both aligned with expectations.U.S. PPI increased 0.1% MoM in July, less than the 0.2% expected. Core PPI increased by 0.3% MoM, slightly higher than the 0.2% expected. The annual PPI and Core PPI increase was 2.2% and 3.3%, respectively.U.S. retail sales increased 1% in July, much better than 0.3% expected.U.S. weekly jobless claim fell to 227K, less than 234K expected.Goldman Sachs and Morgan Stanley bought $600 million in Bitcoin ETFs in Q2, according to filingsThe U.S. Government moved 10,000 BTC seized from the Silk Road.MetaMask partnered with Mastercard and Baanx to launch crypto debit card.
LEGACY MARKETS – DXY

DXY is slowly getting back to range lows. It remains to be seen if it actually holds this time.
LEGACY MARKETS – VIX

VIX has completely fallen back below 21. For now, all the panic during the crash seems to have been a single event.
BTC WEEKLY VIEW

BTC is consolidating just under the 59-60k resistance. For now, 59k is still the high level to reclaim on BTC. This opens up the door back to ATHs.
ETH WEEKLY VIEW

ETH is also still consolidating. It seems that after the large drop, many market participants are out of the ETH positioning. From a sentiment perspective, the upside could come quite unexpectedly and catch participants off guard.
ETH/BTC

ETH/BTC is consolidating after the tag of multi-year support. However, if there ever was a point for ETH/BTC to really gain strength on BTC, it’s now. The combination of the ETF launch and a multi-year support level should be quite powerful interaction-wise.
TOTAL3 USD MARKET STRENGTH

Alts are still mostly building a base. Even with the large drop, many of them are still in larger ranges. But it seems the market is in quite a compression at the moment.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC surprisingly didn’t make new lows on the large BTC drop and is seemingly rotating against BTC. Given that BTC will likely range for a while, this opens up a lot of upside on all ALT/BTC pairings.
SUMMARY
ALT/BTC ratios stayed stable during the significant drop, indicating underlying strength in the altcoin sector against BTC.

DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

This post was prepared by Kairon Labs Trader Patrick Li and Joshua Van de Kerckhove

Edited by: Marianne Dasal

LAST WEEK RECAP:
BTC briefly fell below $50K amid a market crash last Monday, with total crypto market liquidation reaching over $1B, according to Coinglass.Bank of Japan Deputy Governor Shinichi Uchida said the BoJ won't raise interest rates when financial markets are unstable.U.S. weekly jobless claims fall to 233K, less than 240K expected, which shows a positive sign for the labor market and helped market recovery.U.S. judge fined Ripple $125 million in penalty for improperly selling XRP tokens.U.S. judge approved the $12.7 billion settlement between FTX and CFTC.Grayscale launches new crypto investment trusts for SUI and TAO.
LEGACY MARKETS – DXY

DXY dropped to near-range lows after last week's events. From the macro perspective, it’s still within the range of 100-106.
LEGACY MARKETS – VIX

VIX had a complete blowout due to the convergence of Middle Eastern tension and fears of FED cutting too late. At this point it's back trading near 21 levels. With all the uncertainty currently, it could range a while in the 21 area, creating a ranging environment for most assets. However, if it bleeds completely back down to the lows, there's a good chance many assets will pick right back up.
BTC WEEKLY VIEW

BTC saw a large capitulation into 50k. The weekly mostly recovered but failed to convincingly close over 59k, which technically means that the new range is still 52-59k. However, after such large capitulation events, it could be that we chop a while longer, right under 59k. If 59k gets reclaimed, it opens the door back open to ATHs.
ETH WEEKLY VIEW

ETH seems to be repeating the post-BTC ETF launch price action. With grayscale outflows slowly decreasing, it makes sense for the ETF flows to slowly start affecting the PA more positively. ETH/BTC also dropped into major support.
ETH/BTC

ETH/BTC saw yet another low. However, this time, it tagged multi-year support, so the probability of reversal here should be quite high.
TOTAL3 USD MARKET STRENGTH

Alts are still mostly building base. Even with the large drop, a lot of them are still in larger ranges.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC surprisingly didn’t make new lows on the large BTC drop and is seemingly rotating against BTC. Given that BTC will likely range for a while, this opens up a lot of upside on all ALT/BTC pairings.
SUMMARY
ALT/BTC ratios stayed stable during the large drop, indicating underlying strength in the altcoin sector against BTC.

DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

This post was prepared by Kairon Labs Trader Patrick Li and Joshua Van de Kerckhove

Edited by: Marianne Dasal

LAST WEEK RECAP:
U.S. PCE increased 0.3% MoM and 2.7% YoY, both in line with estimates.U.S. core PCE increased by 0.2% MoM, the same as estimated but lower than the previous 0.3%; the annual rate is 2.8%, which aligns with the estimate.Blackrock filed an updated S1 for its spot $ETH ETF to SEC.Bloomberg analyst Eric Balchunas called the updated S-1 a “good sign,” adding that a launch by the end of June was “a legit possibility.”US BTC ETFs recorded 14 consecutive days of inflows.Upbit listed Bounce, StarGate, and BEAM.Mt.Gox moved nearly 107K BTC as part of the repayment part but with no immediate selling pressure.Japanese crypto exchange DMM Bitcoin was hacked — 4,502.9 BTC ($305 million) stolen.Biden vetoed bill (overturning SAB121) that allows highly regulated financial firms to hold Bitcoin and crypto.
LEGACY MARKETS – DXY

#DXY is still trading within the large 100-106 range. As long as it doesn't break out over the 106-108 area, crypto and equities should have fairly good odds to keep on trending.
LEGACY MARKETS – VIX

#VIX has seen a little rally last week. It's always important to keep it on the radar. For now, it’s more likely to stay in the range of 12-14.
BTC WEEKLY VIEW

$BTC is still in consolidation on ATHs. Within the large consolidation, we now have a small compression right under the highs. This usually leads to volatility up or down, and it will likely happen sooner rather than later.
ETH WEEKLY VIEW

It's the same thing for ETH consolidation right under resistance. With the relative strength now in ETH/BTC, a break over 4K again will likely lead ETH to ATHs.
ETH/BTC

ETH/BTC is consolidating right on the downtrend angle. With everything going in ETH's favor at the moment, it's likely we will see trend continuation.
TOTAL3 USD MARKET STRENGTH

Alts are slowly rotating upwards. They will likely accelerate once ETH and BTC confirm actual breakouts instead of current consolidations just under the highs.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is still working on rotating the downtrend relatively to BTC. With ETH now outperforming on the likelihood of ETF approval, it's only a matter of time before this also starts running.
SUMMARY
Expect volatility to pick up on BTC and ETH this week.Altcoins are heating up again with BTC and ETH close to a breakout.
DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

LAST WEEK RECAP:
The SEC has approved Form 19b-4 for eight Ethereum ETF issuers, which gives the green light for ETF ETF to launch; the approval also implies that the SEC explicitly recognizes ETH as not a security.While the 19b-4s have been approved, ETF issuers still need the SEC to sign off on their respective S-1 registration statements for the spot Ether ETFs to begin trading officially.U.S. House approved crypto FIT21 bill with Democratic support.Nvidia passed $1,000 after earning beat and announced a 10-for-1 stock split and an increased dividend.Binance stated that it prioritizes small and medium crypto projects in response to the problems caused by listing high FDV and low-circulation tokens.Trump's campaign started taking crypto donations.
LEGACY MARKETS – DXY

DXY is still trading within the large 100-106 range. As long as it doesn't break out over the 106-108 area, crypto and equities should have good odds of staying on trend.
LEGACY MARKETS – VIX

VIX is still bleeding lower, having reached yearly lows and levels not seen since the pre-COVID crash.
BTC WEEKLY VIEW

BTC is still in consolidation on ATHs. With the election approaching and both parties seemingly using crypto as a lever for votes, the market should keep a close eye on any serious comments on BTC, which could cause huge price movements.
ETH WEEKLY VIEW

After a surprise ETF approval caught the market off guard, ETH is almost back at yearly highs. With underlying strength finally in the ETH/BTC ratio, we will likely see ETH trending into ATHs before the ETFs go live.
ETH/BTC

As mentioned, ETH/BTC was waiting on the ETF news; with the ETF being approved, it almost rallied to new yearly highs and has broken the downtrend. With ETH/BTC rallying one can expect ETH onchain price action also picking up again.
TOTAL3 USD MARKET STRENGTH

With ETH taking center stage, likely, the general alt market will momentarily lag, and ETH sucks up most of the liquidity. Later on, the market will likely play the typical catch-up move.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is still working on rotating the downtrend relative to BTC. With ETH now outperforming on the likelihood of ETF approval, it’s only a matter of time before this also starts running.
SUMMARY
ETH ETF gets a surprise approval.With elections later this year, crypto has become a political tool. The market should keep a close eye on this whenever Trump or Biden speak for their campaigns.
DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

LAST WEEK RECAP:
The US CPI increased 3.4% YoY in April, same as estimated and lower than previous 3.5%. The monthly CPI increased 0.3%, lower than 0.4% estimated.The US Core CPI increased 0.3% MoM and 3.6% YoY; both are the same as estimated. The annual reading was the lowest since April 2021, while the monthly reading was the smallest since December.The US PPI increased 0.5% MoM in April v.s. 0.3% estimated, and core PPI increased 0.5% MoM in April v.s. 0.2% estimated. However, the March reading was revised from an initial 0.2% to -0.1%. April's annual PPI was 2.2%, and its annual core PPI was 2.4%.GameStop shares soared again as 'Roaring Kitty' became active on social media after 3 years. The major memecoins' price also moved higher.Wisconsin Investment Board announced a $162 million investment in BTC ETF.US BTC ETFs recorded five consecutive days of inflows last week.
LEGACY MARKETS – DXY

DXY, after showing early signs of weakness last week, has now entirely rejected its range high and is trending downwards again.
LEGACY MARKETS – VIX

VIX has also completely fallen back into lower levels posing no threat at the moment to the market. With SP500 making new all time highs it seems that most markets will go higher.
BTC WEEKLY VIEW

After two months of consolidation ATHs, BTC saw a big impulse to move upward. This will most likely result in a continuation of the uptrend. WCrypto is now also entering the realm of political issues with elections later this year.
ETH WEEKLY VIEW

Monday ETH ETF approval ratings from analysts surged from 25% ->75% causing an instant rally on ETH as the market had not priced in any chance of approval in May. With crypto becoming a political weapon for the elections after Trump mentioned it, it seemingly has put pressure on the SEC to rush an approval. Deadline is 23rd of May.
ETH/BTC

The ETF speculation seems to have also bottomed ETH/BTC ratio for now. It’s still in a larger downtrend but if the ETH ETF gets approved it likely keeps outperforming BTC for quite some time.
TOTAL3 USD MARKET STRENGTH

With ETH taking center stage after the increased odds of ETF approval, it’s likely that a more broad altcoin rally will happen shortly after. Ethereum strength in previous cycles has always been a large precursor to market wide altcoin seasons.
TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is still working on rotating the downtrend relatively to BTC. ETH is now outperforming in terms of the likelihood of ETF approval. It's only a matter of time before this also starts running.
SUMMARY
ETH ETF approval odds jump from 25% to 75%. Issuers are making last-minute adjustments to their filings. The deadline is the 23rd of May.

LAST WEEK RECAP:
According to the University of Michigan Survey of Consumers, the US consumer sentiment index dropped to 67.4 in May, down from 77.2 in April and well below the estimated 76. The one-year inflation outlook increased to 3.5% from 3.2% in April.Robinhood Crypto received Wells notice from US SEC.Donald Trump said he'd accept crypto for campaign donations and vowed to end hostility toward crypto.Binance and OKX launched Notcoin (NOT) on the Binance launchpool and the OKX Jumpstart.
LEGACY MARKETS – DXY

DXY is still at the top of the range but has shown some signs of weakness. Currently, the market is waiting for it to choose a direction after this smaller consolidation at the top of the range.
LEGACY MARKETS – VIX

VIX has completely died out again to low 13s. Looking at multiple assets BTC / Tech stocks, it seems likely VIX will stay muted, and assets will start trending again after 2-3 months of range.
BTC WEEKLY VIEW

BTC has been consolidating on the previous ATH since mid-March. With support on the ATH seemingly holding, BTC seems to have a decent shot at resuming its upward trend.
ETH WEEKLY VIEW

ETH has a deadline of May 23rd for possible ETF approvals. ETH is still heavily underperforming any real strength BTC is having. This is also reflected in the slow bleed price action on the ETH/BTC ratio.
ETH/BTC

ETH/BTC is still slowly bleeding down. With the breakdown under a 3-year range seemingly happening, either ETH/BTC snaps back in range and gets real relative strength, or it will start accelerating downwards on the breakdown (This would also imply strong movement upward on BTC).
TOTAL3 USD MARKET STRENGTH

TOTAL3 follows the same picture BTC and ETH are showing. TOTAL3/BTC looks much stronger than the ETH/BTC ratio. This would indicate more underlying strength in alts, and ETH is underperforming the general alt market relative to it.
TOTAL3 BTC MARKET STRENGTH

ALT/BTC is still pushing the downtrend and will likely break out. In comparison, ETH/BTC is still massively failing and showing no relative strength.
SUMMARY
BTC/USD is looking good for trend continuation, with prior support still holding strong.ETH/BTC is still underperforming. This week and next week, many ETH ETF deadlines for May are approaching.ALT/BTC is pushing to break out of downtrends.
DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

“A lot of [token] projects are fooling their own trader community or investors by faking these wash trades or these volumes. They give legitimate market makers a bad name. Still, global regulatory developments are progressively making it more difficult for such businesses to thrive." says Mathias Beke, Kairon Labs Co-Founder and CTO.

Crypto market-making involves several ethical considerations that uphold market integrity. With recent crackdowns on dodgy firms, it’s essential for projects to determine what separates legitimate crypto market makers from unethical ones.

We are grateful that Cointelegraph finally sheds light on the reality of market making and all its nuances.

Read the full article here: https://cointelegraph.com/magazine/crypto-market-makers-legit-dodgy-fake-it/

LAST WEEK RECAP:
U.S. Fed kept rate steady due to lack of further progress on inflation, but Powell commented that Fed’s next move was “unlikely” to be a rate hike.U.S. nonfarm payrolls increased by 175,000 in April, well below 240,000 estimated. The unemployment rate rose to 3.9% v.s. 3.8% estimated.Former Binance CEO CZ sentenced to four months.Hongkong BTC and ETH ETF started trading, but only recorded $12M volume on day 1.Friend.tech launches V2 and announced airdrop.Block will use 10% of bitcoin product profit to buy bitcoin.Grayscale GBTC recorded first net inflow after conversion to spot ETF.
LEGACY MARKETS – DXY

#DXY is still at the top of the range but has shown some signs of weakness. Currently, the market is waiting if the weakness continues and DXY falls back deeper into lower price levels. This would be the ideal scenario for crypto.
LEGACY MARKETS – VIX

#VIX is also following the ideal path so far by fully breaking down back into the previous 12-14 range. If it has another lengthy period in this range together with DXY breaking down, expect the crypto market uptrend to resume.
BTC WEEKLY VIEW

$BTC is still consolidating on previous ATH and has been since mid-march. With almost 2 months of consolidation and the initial signals we’re getting from the VIX and DXY, BTC might continue to trend sooner rather than later.
ETH WEEKLY VIEW

$ETH has a deadline of May 23rd for possible #ETF approvals. As it stands now, all these will most likely be pushed back to July, which explains the sluggish price action in ETH.
ETH/BTC

After last week's market movement, ETH/BTC fell completely flat and reversed the initial up move. With the final deadline for May being on the 23rd before further delays, it will be interesting to see how sensitive ETH/BTC trades on ETF delay news.
TOTAL3 USD MARKET STRENGTH

TOTAL3 has been building new price structures and for now, it seems the lows are definitely in after the big liquidation in April.
TOTAL3 BTC MARKET STRENGTH

ALT/BTC is looking a lot better than ETH/BTC. With it now almost fully being out of the shorter-term downtrend, we might see some altcoins trend if this continues.
SUMMARY
ALT/BTC ratios almost breaking out of their mid-term downtrend. Expect a lot of altcoins to start trending again sooner rather than later.ETH/BTC still unable to consecutively trend upwards for multiple days. It's important to observe price reaction likely going into new ETF delay announcements.

DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

LAST WEEK RECAP:
$BTC completed the fourth #bitcoinhalving - the BTC block reward was reduced from 6.25 BTC to 3.125 BTCIran played down reported Israeli attack, signalled no retaliationRunes Protocol launched on Bitcoin, the active minting caused a surge in transaction feesWorldcoin (WLD) to launch World Chain as L2 on EthereumTether expanded USDT to TON blockchain
LEGACY MARKETS – DXY

DXY is still on top of the range. If the strength keeps persisting - and it would try to vacate the range to the upside - crypto and equities could be pressured more. If it breaks down and falls back in range, it will open the window for the rallies in all sectors to continue.
LEGACY MARKETS – VIX

The elevated VIX levels have opened the door for larger corrections on both equities and crypto. Ideally with the initial shock of Middle East escalation gone, the VIX retraces again and the market shakes off the initial scare.
BTC WEEKLY VIEW

As mentioned last week, we noted the strength BTC had on the altcoin wipeout. And for now, it still seems like BTC is just consolidating on the previous all-time high before continuing the trend.
ETH WEEKLY VIEW

As mentioned last week, the drop was likely a good “buy the dip” moment. With markets shaking off the geopolitical scare and if no further escalation happens, we’d expect the trend to pick up again relatively soon.
ETH/BTC

ETH/BTC is nearing its long-term trend. And it's being quite resilient in going lower, with the BTC halving out of the way, the next big narrative in crypto should be the $ETH ETF.
TOTAL3 USD MARKET STRENGTH

TOTAL3 on the wipeout was a great buying opportunity. Lots of altcoins are setting up for trends - this coupled with ALT/BTC ratios finally seeming ready to rotate against BTC should be the start of a market-wide alt season.
TOTAL3 BTC MARKET STRENGTH

ALT/BTC general index seems to be setting up for a strong rotation. With BTC still consolidating on ATHs, it seems only a matter of time for alts to finally start going. Timeline-wise, it seems the market is at a similar point as January 2021.
SUMMARY
Market shakes off the initial geopolitical scare in the Middle EastNext big crypto narrative should be the Ethereum ETF.ALT/BTC ratios setting up for market-wide “Alt season”

DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

LAST WEEK RECAP:
U.S. CPI increased 3.5% YoY in March, which is higher than 3.4% estimated and previous value 3.20%U.S. PPI increased 0.2% MoM and 2.1% YoY in March, less than 0.3% MoM estimatedIran launched drone attack on IsraelEuropean Central Bank and Bank of Canada held rate steadyU.S. SEC issued a Wells Notice to Uniswap LabsEigenLayer and EigenDA launched on Ethereum mainnetBinance listed Bittensor (TAO)
LEGACY MARKETS – DXY

As mentioned last week, the consolidation under resistance could lead to a rally into it and pressure crypto. With the Iran <> Israel catalyst, this move actually played out. For now, 107 is still top of the range and without further escalation unlikely to break.
LEGACY MARKETS – VIX

Same here as mentioned, VIX sustaining the higher levels and rallying would open up the downside. The most interesting observation is how well BTC and ETH held and the major wipeout was mainly in altcoins.
BTC WEEKLY VIEW

BTC even after the weekend wipeout is still consolidating on all time high’s and is looking quite strong. An interesting hypothesis is if tradfi funds will use BTC as a geopolitical hedge now that they have access through ETF’s on the war news. So an increase in inflows is definitely something to watch out for this week.
ETH WEEKLY VIEW

ETH even post drop is still within its new range between 3-4k. So all the drop over the weekend is, for now, a good “buy the dip” opportunity.
ETH/BTC

ETH/BTC is nearing its long-term trend. With BTC halving just a couple of days out, it wouldn’t be surprising to see this finally pick up.
TOTAL3 USD MARKET STRENGTH

TOTAL3 actually saw a massive wipeout. Where BTC and ETH had “mild” corrections, some alts dropped 40-60% over the weekend and wiped out leverage from the market completely. This was a massive opportunity to position for the rest of the cycle.
TOTAL3 BTC MARKET STRENGTH

ALT/BTC also finally reached its range low over the weekend and actually bottom ticked during the altcoin crash. We do think it’s more than due time for some proper ALT/BTC strength at this point.
SUMMARY
Iran <> Israel conflict leads to major sell-off during the weekend.BTC and ETH drops were relatively “mild”. Altcoins saw major OI wipeout in perpetuals (>1B in liquidations)

DISCLAIMER:
The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.