2022–01–19

Summary

Stocks and bonds alike endured a brutal day as US market opened on Tuesday; treasury yields jumped (2s logging high of 1.05%, 10s 1.88%, 30s 7-month high of 2.19%), while ES and NQ lost 1.6% and 2.6% respectively. Stocks are currently extending a global selloff today (NIKKEI -278bp…

17-Jan-2022

Market Recap

Crypto market partially recovered, and have been consolidating in their respective zones (BTC +2.6%, ETH +5.4%). It was again too early to fade “L1 szn”, as smart contract platforms outperformed, erasing the losses from last week’s corrections; LUNA (+13%), ADA (+25%), MATIC (+14) were outperformers, but the…

10 January 2022

Market Recap

There was blood on the street as market broke below its consolidation range ($45.5k-$48k for Bitcoin; $3.6k-$3.9k for Ethereum), sparing little on the way (BTC -15%; ETH -21%; BNB -20%). Previous outperformers (L1s, L2s) which rode on the wave of ‘L1 szn’ generally underperformed the…

7 January 2022

1: Market flushout. Sentiment as bearish as it can be across CryptoTwitter. (Dominating narrative: crypto = liquidity asset & hawkish FOMC minutes).

2: BTC broke down from its recent tight range, 9% drawdown resulted in $638M of long liquidation. Alts underperform.

3: DeFi side, TVL is surprisingly…

2022–01–05

Summary

Post-holidays lethargic action continues in crypto market despite traditional markets seeing decent performance to start the year

  • BTC is currently trading at $45.5–48k range, with good offers on FTX vs. bid on Bitfinex
  • Alts outperforming — BTC dominance now below 40% (Source: CoinMarketCap), lowest since 2018; ETHBTC strong…

3 January 2022

Market Recap

Last week of 2021 was rather disappointing, as Santa Claus rally seen in the traditional market did not make its way to digital counterparts. BTC (-7.5%) and ETH (-6.7%) failed to hold breakouts, and are back to chopping in their previous ranges ($45.5-$52k for bitcoin)…

31 December 2021

Happy New Year — wishing a prosperous 2022 and another bull market!

#1 Cryptocurrency market cap (coinmarketcap) rose from $776bn at the start of the year to ~$2.2tn (2.83x). MarketCap reached its pico-top on 11/10, of ~$2.96tn.

20 December 2021

Market Recap

It’s been a quiet week, as market further chopped indecisively in a storm of macro headlines. Bitcoin mostly stayed within $46–49k, unable to break out of either range, while ether stayed within $3,700–4,100. However, risk sentiment within crypto recovered, with alts resuming their outperformance (BTC…

13 December 2021

Market Recap

Since the sharp sell-off on 12/4, crypto market continued to consolidate; bitcoin has been range-bound in the $47,000–52,000 range, while ether chopped between $3,800–4,500. Market structure is also reflecting the uncertain market participants — bitcoin futures open interest (Chart 1; $17.3bn) …

6 December 2021

Market Recap

It was only natural that after bitcoin rejected $69k, $42k was in play. Jokes aside, crypto market saw another round of sell-off, not dissimilar to the 11/16 sell-off on the back of monthly options expiry, TWAP selling, BTC breaking key support level of $56k, and…

Satori Research

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