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Quick thoughts:
-ETH sub 3k before the launch of the spot ETF's feels like a steal. I thought $3100 was good, but $2800?! Mispricing IMO.
-SOL relative strength is notable and it is the market showing its hand on what to own when the ship turns around.
-Bitmex bids on BTC tell me we are likely close to a local bottom before a bounce/range.
-Altcoin OI has been decimated. Perp funding is quite negative. Alts are down over 60% across the board; effectively having a full blown cycle at this point. Pure carnage in the altcoin sector. Have to imagine a bottoming range isn't far out.
Mind your leverage and don't blow up before conditions become favorable once more. Prices trade much higher into years end.
(NFA/DYOR.)
-ETH sub 3k before the launch of the spot ETF's feels like a steal. I thought $3100 was good, but $2800?! Mispricing IMO.
-SOL relative strength is notable and it is the market showing its hand on what to own when the ship turns around.
-Bitmex bids on BTC tell me we are likely close to a local bottom before a bounce/range.
-Altcoin OI has been decimated. Perp funding is quite negative. Alts are down over 60% across the board; effectively having a full blown cycle at this point. Pure carnage in the altcoin sector. Have to imagine a bottoming range isn't far out.
Mind your leverage and don't blow up before conditions become favorable once more. Prices trade much higher into years end.
(NFA/DYOR.)
$SOL 1D
Guessing there will be a lot of hindsight regret from people who wish they bought here around $130-135.
SOL has been relatively strong despite the onslaught of BTC selling and broader altcoin weakness. Likely a reason for that.
As stated prior; SOL to new ATH's is a matter of when, not if IMO.
(NFA/DYOR.)
Guessing there will be a lot of hindsight regret from people who wish they bought here around $130-135.
SOL has been relatively strong despite the onslaught of BTC selling and broader altcoin weakness. Likely a reason for that.
As stated prior; SOL to new ATH's is a matter of when, not if IMO.
(NFA/DYOR.)
FET 1W
FET is one of the premier AI plays for crypto. With price having been down nearly 70% from the wick high's; this one feels like a no-brainer given the market structure and AI narrative.
Weekly momentum oscillators have gotten a full on reset and price looks primed for higher.
(NFA/DYOR.)
FET is one of the premier AI plays for crypto. With price having been down nearly 70% from the wick high's; this one feels like a no-brainer given the market structure and AI narrative.
Weekly momentum oscillators have gotten a full on reset and price looks primed for higher.
(NFA/DYOR.)
#Bitcoin
Bitcoin's trajectory is right on schedule when viewed through the correct lens.
Here are a few interesting observations:
By the end of 2024, the Power Law Support (historical floor) will surpass MicroStrategy's current cost basis per BTC.
By the end of 2026, it will be above the current #BTC price.
If the 4-year cycle holds, the next bear market bottom based on the Power Law Support could be between $67,000 and $74,000 around September 2026 to January 2027.
Recent range-bound price action may have been essential for reinforcing the bottom support for the next bear market, aligning with Bitcoin's higher timeframe growth patterns.
Bitcoin's trajectory is right on schedule when viewed through the correct lens.
Here are a few interesting observations:
By the end of 2024, the Power Law Support (historical floor) will surpass MicroStrategy's current cost basis per BTC.
By the end of 2026, it will be above the current #BTC price.
If the 4-year cycle holds, the next bear market bottom based on the Power Law Support could be between $67,000 and $74,000 around September 2026 to January 2027.
Recent range-bound price action may have been essential for reinforcing the bottom support for the next bear market, aligning with Bitcoin's higher timeframe growth patterns.
Bull case for up and coming L1's is pretty straight forward:
Replacing ADA, DOT, and AVAX which have had 10b or higher marketcaps for an extended period of time.
Incumbents (such as those mentioned prior) are likely to get unseated this cycle by trendy new L1's with powerhouses behind them alongside better tech, better communities, and better marketing.
I suspect the top 10-20 spots will look very different in a few months time.
Replacing ADA, DOT, and AVAX which have had 10b or higher marketcaps for an extended period of time.
Incumbents (such as those mentioned prior) are likely to get unseated this cycle by trendy new L1's with powerhouses behind them alongside better tech, better communities, and better marketing.
I suspect the top 10-20 spots will look very different in a few months time.
$Crypto $Alts
Looking at it from this lens, several alts have already been deep into bear market territory since March; with several alts down over 40-60% from the wick high to the wick low.
I suppose part of the distortion around sentiment stems from just how much overthrow to the downside there was after the collapse of FTX.
People that bought coins in the months after the FTX collapse are still up multiples; even with a lot of the big name alts being down 40-60% from the March highs.
Very weird cycle so far. Norms from prior cycles have simply not worked very well.
(NFA/DYOR.)
Looking at it from this lens, several alts have already been deep into bear market territory since March; with several alts down over 40-60% from the wick high to the wick low.
I suppose part of the distortion around sentiment stems from just how much overthrow to the downside there was after the collapse of FTX.
People that bought coins in the months after the FTX collapse are still up multiples; even with a lot of the big name alts being down 40-60% from the March highs.
Very weird cycle so far. Norms from prior cycles have simply not worked very well.
(NFA/DYOR.)
Looking at it from this lens, several alts have already been deep into bear market territory since March; with several alts down over 40-60% from the wick high to the wick low.
I suppose part of the distortion around sentiment stems from just how much overthrow to the downside there was after the collapse of FTX.
People that bought coins in the months after the FTX collapse are still up multiples; even with a lot of the big name alts being down 40-60% from the March highs.
Very weird cycle so far. Norms from prior cycles have simply not worked very well.
(NFA/DYOR.)
I suppose part of the distortion around sentiment stems from just how much overthrow to the downside there was after the collapse of FTX.
People that bought coins in the months after the FTX collapse are still up multiples; even with a lot of the big name alts being down 40-60% from the March highs.
Very weird cycle so far. Norms from prior cycles have simply not worked very well.
(NFA/DYOR.)
We are currently 33 days into a #bitcoin Bitcoin mining capitulation, with an average duration of 41 days over the last five years.
Miner addresses collectively hold a substantial treasury of 700,000 BTC, but their balance has decreased by 30,000 BTC since October.
This period marks the longest distribution phase for miners since 2017, adding to the headwinds.
Despite this, the hash rate has only declined 12% from its peak as unprofitable miners continue to sell Bitcoin to sustain operations.
Miner addresses collectively hold a substantial treasury of 700,000 BTC, but their balance has decreased by 30,000 BTC since October.
This period marks the longest distribution phase for miners since 2017, adding to the headwinds.
Despite this, the hash rate has only declined 12% from its peak as unprofitable miners continue to sell Bitcoin to sustain operations.
PLAY TO TAB GAME ON NOTCOIN $$
What Is Hamster Kombat? A Guide to the Trending Telegram Crypto Game
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What Is Hamster Kombat? A Guide to the Trending Telegram Crypto Game
Hamster Kombat is a viral Telegram-based crypto game where you can mine HMSTR coins by managing a virtual crypto exchange.The game is getting hot following Notcoin’s success. Enjoy strategic gameplay, daily bonuses, and the promise of real cryptocurrency rewards through upcoming Hamster Kombat airdrops.
https://bit.ly/HMSTERPLAY
$WIF 1D
WIF is looking weak here. Price has been unable to sustain upside momentum and price is now back around the flat line of resistance near $2.30 or so.
Bit of a descending triangle formation in the works as well.
Idk bro's; I'm starting to think @CryptoDonAlt might end up being right on this one lol.
(NFA/DYOR.)
WIF is looking weak here. Price has been unable to sustain upside momentum and price is now back around the flat line of resistance near $2.30 or so.
Bit of a descending triangle formation in the works as well.
Idk bro's; I'm starting to think @CryptoDonAlt might end up being right on this one lol.
(NFA/DYOR.)
