Today’s Nuggets
Human Nature and Bitcoin Price
Tourists are Coming
Treasuries Continue to Explode
MSTR Purchases since Announcement
Italy Plans SpaceX Deal
SOL Smokes the Bunch
Phantom Going Social
Alts Getting Stronger
Dr. Copper is Coming Back
Canada’s Trudeau Resigns
Biden Administration Overspent
Fear and Greed is slightly higher than a few days ago and is now at 76.
This is the extreme greed zone which is a bullish sign. Bitcoin is $102,000, up $3,700 in the last 18 hours.
When everyone thought Bitcoin was dead, it made a big move!
Everybody is happy for the first time it hits $94,000. When it falls to $94,000, everybody is losing their minds. Then, it chops sideways for a couple of days, and people lose their minds, too.
Remember, these markets are volatile.
We are in very, very volatile assets, which is why we get extraordinary alpha. This is why I always warn you to keep your seatbelts on.
This has been an extraordinary start to the year for crypto.
This week, ETH, SOL, ADA, XRP, SUI, and XLM are all in the dark green. Binance is the most noteworthy alt that was down against Bitcoin this week.
You can see a lot of stuff has been very green so far in the year:
Bitcoin over the last seven days is up 9% at $102,222.27. ETH is at $3,699;
SOL is over $220; and
Binance reached $737.
What is going on behind the scenes? I continuously strive to uncover the data to determine exactly where we are going...
The MVRV levels and the market structure are crucial to monitor.
The negative in the crypto space is just off the charts. Historically, the MVRV levels are around 1 to 1.3, referred to as fair or moderate valuation. This is where we are right now at fair value.
If the metric spikes above
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