Today’s Nuggets
Bitcoin Miners and Proxies Spring Break
Bitcoin Likes RFK
Global Liquidity Up, DXY Down
The Quadrillion Dollar Use Case
Late to the Party but Destroys the Competition
The Labor Market Cracked
30-Year Fixed Mortgage Rates Tank
The crypto market was now all of a sudden $2.3 trillion and was like $2 trillion a few days ago. We had the prophecy. We had the breakout.
We will break down all the stuff from Wyoming with Jerome Powell.
On Wednesday, I stated that a short squeeze was incoming. I could see it in the data. On Thursday, I said if we can hold $60,500, we could possibly break it to $63K.
After that, we will break out and it is confirmed.
This chart is now a little bit out of date because we're at 63,700 instead of 63,231. Over the last seven days, we have gone up nearly 5% for Bitcoin and nearly 5% for Ethereum. Basically, everything is kind of green across the board, with the exception of LEO and KAS.
As I have been hammering the table in a bull market, when Bitcoin prices are under the 200-day moving average and you do not have enough, that is when you buy!
It is really simple and is the easiest indicator in the world.
While Bitcoin is only up nearly 6%, MicroStrategy is back above $150. Hive is up nearly 15%, which ranked second or third in my most recent miner report. Marathon up 11%.
The proxies go faster, kind of like altcoins. The mothership is always big and hard to move.
The little guys bounce a lot faster.
The red line that goes through the matrix is what I want to show you, which is the 200-day moving average at $63K. We should turn that back into support as we go forward.
Good time to be alive!
RFK likes Bitcoin and he is very smart.
He understands exactly what is going on and he has left the campaign trail. I love the way he wants to kind of clean up the food in America, stop autism in children, and make the world a better place.
The market cap of Tether circulating keeps going up and to the right.
That means there is more cash, more liquidity, and more depth in the crypto market. While Tether is only about 7% of the total crypto market cap, it drives a lot of it.
It is a good thing to see this going up.
This is proof that we are higher than earlier before.
This is from the rational root, which is a chart comparing the bottoms of Bitcoin cycles. When you compare cycles from the bottom, the current cycle has far outperformed previous cycles.
You might wonder, how the heck is this possible? I do not know. Could it be the ETFs? We did expect diminishing returns this cycle, but this has been counterbalanced by the massive ETF inflows. Each cycle has seen Bitcoin diminishing returns. We had a 10x the previous to last cycle, then a 7x. This time, it could be a 4x. We are not sure where we are but either way, it will probably be good.
Buckle in. We have seen Bitcoin go from $58,000 to nearly $64,000 in a couple of days demonstrating how fast thing thing moves. That is why I say
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