NUGGETS OF ALPHA
Bitcoin is up 175% over the last year and 210% above its November 2022 low
Since SEC ETF approval speculation began, prices have increased nearly 100%
Deribit options traders’ biggest bets are on the $50K BTC in March
Solana now has surpassed Ethereum in monthly NTF sales volume
The SEC enforcement actions of 2023 have driven venture capital out of crypto
Ten weeks ago, the crypto market cap was sitting at $1.3T; now, it is at $1.832T and is experiencing massive growth.
The active addresses have grown from 5.6M to 7.1M. The more users there are, the more value there is in the entire crypto ecosystem.
Transactions have moved from 40M to 5.16M per day over this period.
The Bitcoin halving is now 105 days away, but that is not the big story of the day...
The big story is that Bitcoin is back in full bull according to the IA Bitcoin Top and Bottom indicator. The yellow zone is when things begin to really move right before we get to orange when price action goes crazy!
The Crypto Fear & Greed Index is currently in the Greed zone at 71.
December closed at 11.9% monthly returns. So far, in January 2024, we are up 7.9%. That is a big start to the year.
BNB & ETH did beat BTC
SOL -12.56%
XRP -6.45%
The performance was mixed this week:
BTC +3.56%
ETH +3.93%
SOL -9.49%
BNB +16.02%
You cannot judge the merit of the asset in such a short window of time as a week. The laggards are now beginning to catch up with the early runners.
Bitcoin is trading above $45,000 for the first time since April 2022. This puts Bitcoin up
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