Ethereum’s co-founder Vitalik Buterin offers four financial tips to help new and seasoned investors mitigate risks amid massive volatility in the crypto space.
Read more on: https://thecryptobasic.com/2024/01/08/ethereum-founder-vitalik-buterin-shares-4-financial-tips/
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LAST WEEK'S RECAP:

#BitcoinETFapproved SEC has approved all Bitcoin spot ETFs.U.S. CPI increased 0.3% MoM in Dec and 3.4% YoY, higher than the estimated 0.2% and 3.2%.USDC issuer Circle confidentially filed for US IPO, the second attempt to go public.SEC’s Twitter account was hacked and posted a fake BTC ETF approval notice one day before the official approval.ETH price increased after BTC ETF approval news, signalling ETH ETF narratives, which SEC needs to decide in May.@NEAR Protocol Foundation cut staff by 40%.Starkware CEO Uri Kolodny resigned due to family health issues.
LEGACY MARKETS – DXY

DXY is still within the larger range of 106-100. As mentioned, it's currently expected to continue building more price structures within this range.
LEGACY MARKETS – VIX

VIX still can’t keep any real strength other than the occasional spike. This gives stock and crypto room to move.
BTC WEEKLY VIEW

BTC saw a large spike into 48k. After large rejection and closing back within the macro range of 30-45k, it seems pretty likely that BTC could drop to the mid/low 30s.
However, with the ETFs now being live, the actual underlying market structure of BTC will also change. This makes it harder to predict what will happen price-wise as the “character” of how BTC trades changed and there’s not enough price history yet to define it.
One could look at large-cap tech stocks for what’s possible regarding retracement. But at best, that’s still a wild guess.
ETH WEEKLY VIEW

As mentioned last week, we expected an instant reversion in ETH/BTC after the BTC spot ETF approval. This was the case and because of the relative strength of ETH/BTC, it held its breakout level on ETH/USD.
If BTC can trade stable enough for just a few days, it’s quite likely for ETH to finish its rally into 2.8-3.3k area.
ETH/BTC

ETH/BTC retraced over 30 days of bleeding in 1 candle after the ETF approval. If this reversal is “real”, the ETH/BTC market should see trending behaviour from here on out till at least .067.
TOTAL3 – USD MARKET STRENGTH

TOTAL3 is flipping resistance into support. However harsh current altcoin correction may seem from a higher time frame perspective, it’s fairly healthy.
TOTAL3/BTC – BTC MARKET STRENGTH

As expected, ALT/BTC followed ETH/BTC. However, the ETH/BTC impulse was a lot stronger and ALT/BTC is still in range. If BTC slips hard to the downside, a breakout won't be likely just yet.
SUMMARY
BTC dropped almost 20% post-ETF approval, with GBTC selling being the main narrative for the drop.ETH/BTC finally saw the large reversion, with Blackrock making comments about an ETH ETF making sense for later this year (likely late Q2-Q3).

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 any digital assets or other financial products.

#CryptocurrencyMarketAnalysis #BitcoinMoves #BTCETFS

LAST WEEK'S RECAP:

Ethereum's Dencun upgrade launched on Goerli testnet after initial delays.#Metamask launched staking service to allow users to run $ETH node.Binance’s new launchpool project $MANTA Network experienced a 'DDoS' attack during exchange listing.#dYdX surpassed Uniswap as the largest DEX in volume.Blast, launched by the founder of Blur, announced testnet is live.
LEGACY MARKETS – DXY

#DXY is still within the larger range 106-100. As mentioned, it's currently expected to continue building more price structures within this range. It did see some upward movement within the range. This can put some pressure on stocks/crypto especially as indexes are trading near all-time highs.
LEGACY MARKETS – VIX

#VIX is still in a slumber for now. This will keep correlations low between asset classes.
BTC WEEKLY VIEW

$BTC is still at the top of the macro range between 45-30k. From a technical point of view, it seems more and more likely that BTC will reach mid 30’s at this rate. The longer BTC keeps ranging under resistance, the more altcoins will bleed in anticipation of increased volatility on BTC.
ETH WEEKLY VIEW

ETH/BTC has been stale ever since the initial ETF approval rotation. With BTC looking more and more like it's breaking down at the top of the range, it would be optimal for ETH/BTC to continue its trend and push through. This could give enough relative strength for ETH/USD to rally towards 2.8-3.2k.
ETH/BTC

ETH/BTC should pick up the trend soon, or else it would become more and more likely to bleed out again the entire rotation from the ETF approval.
TOTAL3 USD MARKET STRENGTH

Alts have retraced quite a bit. But from a macro perspective, it’s still totally fine with price building more and more structure above the 2023 resistance. It will likely tap into that resistance (now support red zone) when/if BTC taps into the mid-30s. This would likely be one of the last good macro entry points into altcoins for the typical crypto cycle.
TOTAL3 BTC MARKET STRENGTH

As mentioned last week, if ALT/BTC would stay in range and ETH stalls, it would likely not be good for alts. A lot of them are down quite a bit with no real show of strength at the moment. This will likely stay the same until we get that volatility expansion on BTC.
SUMMARY
Market is in limbo until it sees BTC breaking down/up to lower or higher levels or ETH/BTC picking up more upside momentum.
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 any digital assets or other financial products.

#CryptocurrencyMarketAnalysis #CryptoJourney2024

LAST WEEK RECAP:
BTC ETFs (ex-GBTC) now hold ~216K BTC, more than MicroStrategy’s 190K BTC holding.Starknet launched the STRK airdrop tracker on Voyager.Pandora announced major improvements to the ERC-404 standard, which combines ERC-20 and ERC-721 characteristics.Solana experienced another outage that halted blockchain transactions for five hours on Feb 6th.Wormhole released W token economics.EigenLayer TVL is close to $6 billion and entered the top 5 DeFi protocols.
LEGACY MARKETS – DXY

No visible movement. DXY is still within the larger range of 106-100. As mentioned, it's currently expected to continue building more price structures within this range. This could keep going for quite some time, this is overall good for equities & crypto.
LEGACY MARKETS – VIX

VIX completely lost all strength again last week. Afterwards, BTC started running up towards 48k. For now, it doesn’t seem like there is anything in the market that gives the VIX sustained upside.
BTC WEEKLY VIEW

With large net inflows in the BTC ETFs during the overnight sessions, the market is starting to see a front-run narrative of expected inflows for the next day. With BTC near range high, the market is at a large inflection point. For now, the strength seems to be centered around BTC and the majority of the altcoin market is barely moving.
ETH WEEKLY VIEW

ETH is still trading in total limbo without any clear sign of relative strength. The USD strength is at the moment purely carried due to BTC trading so strong.
ETH/BTC

ETH/BTC is on the absolute edge at the moment. If BTC breaks through the local high, a rally towards ATHs seems likely and in tandem, ETH/BTC will likely breakdown lower. This week should be fairly decisive in how this will play out.
TOTAL3 USD MARKET STRENGTH

TOTAL3 just like ETH/USD is being carried by BTC strength. If at any point BTC starts trading weaker, altcoins could have quite a bit of downside in their USD value.
TOTAL3 BTC MARKET STRENGTH

ALT/BTC is still in the range. With the relative weakness against BTC, it seems quite likely that the altmarket will finally trend towards the lower end of the range (green box).
SUMMARY
BTC ETF inflows are leading the market at the moment, with most action centered around BTC and most altcoins lacking any sign of life while BTC is so strong. A couple of sectors do have momentum, especially gaming.
With BTC at a large inflection point (local high), this week will be quite decisive if it breakthroughs and goes for ATHs or if it falls back in range and ALT/BTC ratios regain some strength.

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 any digital assets or other financial products.

#CryptocurrencyMarketAnalysis #CryptoJourney2024