2022–5–20 Summary Crypto continues to consolidate and holding up relatively well despite volatility backdrop in macro. Consensus of ‘sell the rip’ continues. It’s also worth noting that put/call ratio for Bitcoin open interest hit a 12-month high of 0.72, indicating bearish sentiments among investors. …

2022–05–18 Summary Crypto market has been consolidating ever since last week’s bloodbath. BTC and ETH struggling to clear above 30k and 2k meaningfully. Sentiment has been pretty mixed with some on CT being cautiously optimistic, whilst other remain bearish and see all rips as opportunities to sell. In the macro fronts…

2022–05–16 Market Recap Entire crypto market got hit by the Terra meltdown. The $UST de-peg and $LUNA failure wiped out over $300b from the market, leaving the total crypto market cap at $1.3T today. Bitcoin ended red for the seventh consecutive week, suffered another 9.1% and plunged to a low of $25.3k…

2022–05–13 Summary Absolute bloodbath yesterday as aftermaths of CPI number and LUNA<>UST debacle weighed down on market sentiments. BTC went to the lows of ~$25k, whilst ETH went to low of $1,700. Bitcoin realized 2nd heaviest losses in history. Market has since recovered to levels of $30k and $2,080 respectively…

2022–04–25 Market Recap Crypto market volatility further dampened last month and continued its range-bound price action. Bitcoin started the week strong, rallying from $40k to $43k; $43k got rejected, bringing BTC down to $39k, wiping out all the gains for the week. BTC (-0.36%) finished the week rather flat. Altcoins mirrored BTC’s…

2022–04–22 Summary Strong open in the market was met by day-long selling pressure in the US equity market yesterday. With risk under pressure, crypto didn’t fare well as well, but still within a broader trading range. …

2022–04–21 Summary Consolidation of crypto after Monday’s sharp drop. Market still focused on macro backdrop, with correlation with equities remaining high. The CT meme is that tax season is now over, freeing up funds for investments. Funding continues still heavy, with the last 3 days’ average funding rate at -2.7%…

2022–04–11 Market Recap Crypto market was down and traded with high volatility last week. Bitcoin was rejected at $48k, 200dma, in late March. It plunged to a lowest of $41.8k last week, which coincidently is near the 50dma and 100dma. Bitcoin ended the week with -9.15% as the Fed announced their decision…

2022–04–06 Summary Better consolidation of crypto markets for the last few days — overall, market still seems focused on macro backdrop, including geopolitical conflict in Russia/Ukraine and inflation. BTC trading above support of $45k, but has taken a halt, and looks like new catalysts are required outside of LFG’s BTC purchase……