Crypto Research
254 Results
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 in short positions were liquidated on Wednesday’s move and leverage remains relatively subdued despite the bullish price action.BTC transfer volume data demonstrating a...
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 drives supply crunch. Ethereum supply trending higher again on the back of decreased NFT activity.Soft economic data will prolong the Fed’s dovish policies long...
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 in the Ethereum market and the wider altcoin universe.BTC and ETH found ample buying support above their 200-day moving averages and continue to...
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 average return (this should not be a grave concern for investors).Bitcoin’s supply action last week was an anomaly as coins resume being removed...
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 market cap reached $2.0 trillion for the first time since the industry drawdown in May. 2. Last week we highlighted...
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 tax revenue paid by crypto brokers. This was not a novel concept for the crypto industry, as reputable centralized brokers...
Crypto takes on Capitol Hill; Recent price action characterized by supply crunch and low exchange volume; Macro picture is uncertain but presents opportunity; Ethereum upside from EIP-1559
CRYPTO TAKES ON CAPITOL HILL Last week, news outlets began reporting on a curious provision tucked away in the 2,700-page, $1 trillion bipartisan infrastructure bill compiled by the Senate. The bill, which is now subject to the Senate amendment process, featured a last-minute, crypto-specific addition that detailed $28 billion of incremental tax revenue resulting from enhanced crypto tax reporting rules. The focal point of the controversial provision was its definition...
Short squeeze takes Bitcoin 40% higher to $40k in a week; Could China’s tech crackdown be a bigger cause and future bullish catalyst than most think?
As a personal note, this will be my last crypto weekly with Fundstrat. It’s been great working with Tom and team, and I’ve learned a lot from Fundstrat over the past nearly two years while here. For those wondering, I’m transitioning to Grayscale where I’ll join the team as the Head of Research. For readers that would like to stay connected, feel free to follow me on Twitter (@David_Grid) or...
