All-New Crypto Members Area
We are pleased to unveil a completely new design that makes the industry-leading crypto research of FS Insight more accessible than ever. Now you can quickly and easily dive into the suite of powerful tools our Crypto team has created to help maximize your portfolio.
Latest Research
By Sean Farrell, Head of Digital Asset Strategy, Fundstrat • Tue, January 6, 2026 | 7:21PM ET
CORE STRATEGY Source: Artemis, Fundstrat CRYPTO EQUITIES PORTFOLIO Source: Bloomberg, Fundstrat _See commentary on the rebalance at the end of this note._ TACTICAL SETUP LOOKS CONSTRUCTIVE Sometimes, a simple calendar turn is all an asset class needs to fall back into favor with investors. In the weeks leading into year-end (following BTC’s rejection at ~$94k), I laid out the reasons it made sense to detach from crypto markets. We were facing tax-loss selling, fund redemptions, and a general sense of...
By Sean Farrell, Head of Digital Asset Strategy, Fundstrat • Mon, January 5, 2026 | 8:11PM ET
DISCUSSED IN TODAY'S VIDEO:Near-term conditions have improved as liquidity, flows, and market structure now support a tactical rally.Liquidity and macro signals are constructive, with rising base liquidity, a softer dollar on a lag, and tightening credit spreads.Flows are turning positive, led by ETF inflows, a rising Coinbase premium, and spot-led price action amid negative funding.Bitcoin has reclaimed the 50-day MA and is likely to retest the 200-day near $105K–$106K, with ETH, SOL, and crypto equities offering upside beta.My base case...
By Sean Farrell, Head of Digital Asset Strategy, Fundstrat • Mon, December 29, 2025 | 9:03PM ET
DISCUSSED IN TODAY'S VIDEO:VALUATIONS HAVE MEANINGFULLY COMPRESSED: The median P/E multiple across the top crypto applications has fallen from ~23x in late September to ~16x today.SELECT APPS ARE PROVING MORE RESILIENT: Some protocols have grown fees even as their multiples declined (SYRUP), highlighting differences in revenue cyclicality. A small number of names have actually re-rated higher (KMNO, SKY), reflecting optimism around forward-looking earnings.LIQUIDITY REMAINS EXTREMELY THIN: Spot volumes and order book depth are at levels last seen around the early-2024 ETF launch.KEY LEVELS...
By Sean Farrell, Head of Digital Asset Strategy, Fundstrat • Mon, December 22, 2025 | 8:36PM ET
DISCUSSED IN TODAY'S VIDEO:STRATEGY DIVIDEND RISK IS EFFECTIVELY ELIMINATED – Strategy’s $750M equity sale was used to build U.S. dollar reserves, now covering ~32 months of interest and dividend obligations. Concerns around forced Bitcoin sales to fund preferred dividends can likely be put to rest.CRYPTO CONTINUES TO UNDERPERFORM INTO YEAR-END – Bitcoin and broader crypto once again lagged equities and gold, consistent with typical Santa Rally dynamics in which investors sell losers and add to winners.FLOWS AND ACTIVITY REMAIN EXTREMELY MUTED – Spot...
Data Dashboard
Our new dashboard gives you a quick, comprehensive view of the most important metrics our analysts utilize to evaluate trendS and opportunities in the crypto market. Use our interactive charts to contextually assess comparative trends and market movements relative to BTC and ETH prices.
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Latest Crypto Guides
Access our library of educational guides to better understand and navigate the crypto markets. Whether you’re a novice or a veteran to crypto, we have the tools to advance your knowledge of this emerging asset class.
