Financial Research

Crypto Weekly

Crypto Weekly

  • Crypto Weekly
October 21

Key Takeaways Bitcoin eclipses prior all-time high and tests $67,000, completing the comeback from a 55% drawdown April through July.  ProShare’s Bitcoin Strategy ETF ($BITO) was a huge success, garnering $570 million in asset inflows in its debut, and breaking the record for the fastest...

The importance of 8K and 10K for BTC – Key levels for ETH and ADA
  • Crypto Weekly
October 13

Bitcoin Dominates

Key Takeaways Bitcoin experiences healthy consolidation following a red-hot start to October but continues to exhibit strong underlying fundamentals. BTC open interest has increased dramatically in recent weeks, but data shows that the majority of futures are cash-margined, which may point to a more robust derivatives market as compared to...

  • Crypto Weekly
October 6

Welcome to “Uptober”

Key Takeaways A FUD-free week combined with shifting regulatory sentiment catalyzes a 33% weekly increase for $BTC and a 28% increase for $ETH. Bitcoin’s market cap returns to $1 trillion and trades above the 200-day moving average.  Data points to a spot-driven market for Bitcoin as just over $100 million...

  • Crypto Weekly
September 29

Long-term Investors HODL as Potential Catalysts Approach

Key Takeaways China FUD causes crypto markets to sell-off for the second week in a row. We take a deeper dive to understand the broader implications (or lack thereof) of the most recent regulatory crackdown announced by Beijing. Leverage and funding rates are trending lower, signaling uncertainty among short-term market...

  • Crypto Weekly
September 22

September Slide Continues Despite Positive Underlying Trends

Key Takeaways Crypto markets stumble as global equity markets go risk-off in the wake of Evergrande fears. Strongest selling pressure was from those with high exposure to Asian assets seeking liquidity to hedge against a potential “Lehman” moment for China. This week reminds us that Bitcoin is relatively early in...

  • Crypto Weekly
September 15

Golden Cross and On-Chain Metrics Signal Opportunity

Key Takeaways Ratios for $BTC and $ETH demonstrate a return to normal leverage levels. The current valuation of the Bitcoin network as a multiple of miner revenue is rebounding and is set for further expansion. Bitcoin supply continues to be constrained by long-term holders accumulating, while the Lightning Network further...

  • Crypto Weekly
September 8

Labor Day Leverage Check

Key Takeaways On Tuesday, the market experienced cascade of liquidations as nearly $4.0 billion of long positions across the entire crypto market were wiped out. Approximately $1.0 billion of $BTC long positions and $855 million of $ETH long positions were liquidated. Tuesday’s liquidations were possibly exacerbated by the leverage embedded...

  • Crypto Weekly
September 1

Never Waste a Good Liquidity Crisis

Key Takeaways Bitcoin stalled this week but continues to trade above its 200-day SMA. Ethereum received some late inspiration and has surged beyond $3,500 for the first time since the industry drawdown in May. Dating back to 2011, September is the only month in which $BTC has experienced a negative...

  • Crypto Weekly
August 25

Walking up the mountain gets you farther than running

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....

  • Crypto Weekly
August 18

Recap of price performance; A pattern emerges in BTC & ETH dominance; Market structure remains unchanged and ripe for an institutional nudge; Takeaway: Buy BTC and ETH into any near-term weakness; Alpha Opportunity; Metaverse Summer

Recap of price performance First, let’s quickly recap what we observed the past week for BTC and ETH. Some observations: 1. Below (Exhibit 1) is the 7-day chart featuring the price action of BTC and ETH. Bitcoin surpassed the $48,000 – level, Ethereum traded above $3,300, and the total crypto...

  • Crypto Weekly
August 11

Crypto loses battle in DC but is well-positioned for the war; Recap of weekly price performance; BTC Surpasses 200-Day SMA; Update on EIP-1559; Key data points suggest we are early in this upward trend; The future of gaming lies in crypto

Crypto loses battle in DC but is well-positioned for the war Last week, we covered the infrastructure bill under deliberation in the Senate due to a crypto provision that was snuck into the bill at the eleventh hour. To recap: the bill had cited a $28.0 billion “pay-for” sourced from...

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