NUGGETS OF ALPHA
Most altcoins outperformed Bitcoin this last week
The next Bitcoin catalyst is for the realized price to get above the long-term holders’ realized price
In May every cohort has been selling BTC
BTC addresses holding 100+ coins reached a 2-year high of 16,250
The Bitcoin Exchange Net Flow reached a 5-month low of -1,066.660 BTC
Bitcoin is up ~32% over the last 90 days and the QQQ is up ~7%
SOL is the best ratio in crypto
Top 7 companies in the S&P 500 have pulled in all of the returns this year
NVIDIA shares have surged 101% in 2023 to a recent $295
The Tesla Model Y is now cheaper than your average car in the US
Elon drives FSD daily and receives only one safety intervention every few days
The European economy forecasts are a lot better than most experts expected
Overall, bad week for crypto as everyone is nervous about the debt ceiling
MATIC is getting eaten alive by other L2s on the Ethereum chain
Digital asset investment products saw a fourth consecutive week of outflows totaling US$54M
$38M outflows from Bitcoin, bringing the total outflows for the past four weeks to $160M
Fake Trezor wallets have been circulating in the market - only buy direct from the official source
The Fear & Greed index has begun trending back up, which is positive.
The Altcoin Season Index still indicates a reading of 4 in Bitcoin season…
However, when we look at market performance, everything beat Bitcoin this last week. The Bitcoin dominance mapper has reached 45.73%, so something is wrong with the Altcoin Season Index.
This chart demonstrates that we are under a price equilibrium of ~$42K. We are less than 11 months from the Bitcoin halving, and everyone knows where we are in this cycle. The new estimate for the halving is April 11, 2024.
Keep reading with a 7-day free trial
Subscribe to InvestAnswers Newsletter to keep reading this post and get 7 days of free access to the full post archives.