RECAP: SELL PRESSURE

OCTA: Bitcoin Sell Pressure Shift Imminent

NUGGETS OF ALPHA

• BTC sell pressure is estimated to decline by ~$15 million due to the halving

• DXY index is up 3.49% year-to-date, and BTC is up 64.34%

• Bitcoin miner reserves are beginning to rise - good news!

• The short-Bitcoin fund has experienced ~$85M outflows since April

• Solana experienced 27 weeks of inflows and four weeks of outflows this year and is the darling of 2023 per Coinshares

• BNB is hovering at the $214 level, protecting against a rumored liquidation event

• BITO captured $571M AuM on launch day; all ETH ETFs combined reached ~$7M

• According to Reuters, the U.S. SPR has 17 days of petroleum supply left

• China has been selling U.S. Treasuries heavily since 2021

• Since 1913, when the Fed was founded, U.S. debt has doubled every 8-9 years

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Tuesday is our On Chain & Technical Analysis (OCTA) update, where we review the good, bad, and the ugly of the previous week:

• The global crypto market cap is $1.08 trillion, with a 24-hour volume of $39.12 billion 

• The price of Bitcoin is $27,398.03, and BTC market dominance is 49.4%

• The price of Ethereum is $1,651.11, and ETH market dominance is 18.3%

• The best-performing sector is Travel, which gained 7%

• The Crypto Fear & Greed Index is currently Neutral (50)

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Good news, the Fear & Greed is up to 50. This is very different from the doom banter you read on Twitter.

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Overall, it was a