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MSTR Bid Incoming, COIN Earnings Preview

Oct 29, 2024
Author
Sean Farrell
Sean Farrell AC

In today's video, we discuss the bullish momentum returning to crypto markets, key macro updates from the JOLTs report and China's stimulus plans, the anticipated MicroStrategy BTC bid, upcoming earnings for COIN, and the broader macro factors supporting the bullish case for crypto.

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The chart in this report is only accessible to members

Tickers in this video: #BTC

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INDICATIONS OF FROTH Given the violent nature of the past month’s rally, we have been vigilant for signs of a local top. It would be disingenuous to claim that some qualitative "top signals" are not flashing right now. XRP—which we noted as a possible election trade back in October—with only 1–2k daily active addresses (vs ETH's over 400k, source: Artemis), is ripping toward new highs while influencers take to TikTok...

AVAX 4.79% BNB 2.83% BONK 2.10% BTC 4.84% CORE N/A% ETH 6.43% HNT 9.19% JTO -0.48% MKR 5.56% RAY 3.61% SOL 1.63% STX 0.25% XRP 7.42% BITW +5.22% BTBT +9.4% CLSK +7.32% COIN +7% CORZ HIVE +6.59% HOOD +7.04% HUT +9.29% IREN MARA +5.81% MSTR +2.1% RIOT +4.71% SMLR +5.19% WULF
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TURNING CAUTIOUSLY OPTIMISTIC There is a lot of pain in the ETHBTC chart. It peaked in December 2021 and, save for several brief rallies, has been on a downwards slope ever since. It peaked at just under 0.09 and currently trades around 0.038. Source: TradingView Fortunately, we have anchored most of our attention on BTC and SOL this cycle, as BTC has continued to lead the market in a generally...

AVAX 4.79% BNB 2.83% BONK 2.10% BTC 4.84% CORE N/A% ETH 6.43% HNT 9.19% JTO -0.48% MKR 5.56% RAY 3.61% SOL 1.63% STX 0.25% XRP 7.42% BITW +5.22% BTBT +9.4% CLSK +7.32% COIN +7% CORZ HIVE +6.59% HOOD +7.04% HUT +9.29% IREN MARA +5.81% MSTR +2.1% RIOT +4.71% SMLR +5.19% WULF
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