Walking up the mountain gets you farther than running

Aug 25, 2021 • 10 Min Read

Key Takeaways

  • Bitcoin continues to march higher, eclipsing another key milestone and trading above the 200-day SMA. Ethereum is also higher on the week but has met resistance at $3,300. Attention turns to the 50-day SMA.
  • Bitcoin’s recent price run has not been as “hot” as its gains would suggest.
  • Price action has been largely supply-driven and recent movement of coins onto exchanges could present short-term risk.
  • Crypto and meme stocks are on the move this week, presenting an early sign of a risk-on macro environment.
  • Our team has observed an interesting weekly trading pattern that has appeared over the past three weekly trading cycles, that features mid-week selling and price increases into the weekend.
  • Bottom Line: The market fundamentals remain consistent, and we continue to buy $BTC and $ETH into any near-term weakness.
  • Emerging Trends: The Metaverse is gaining widespread adoption with corporates like Visa purchasing NFT avatars. We expect future NFT avatars to do an increasingly better job expressing their owners in the Metaverse.


Weekly Market Recap

Bitcoin continued its deliberate march higher this past week, having surpassed $50,000 for the first time since the industry drawdown in May. Ethereum was also higher on the week but met res...

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In