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.