Laggard L1s
3 min read

Laggard L1s

Cryptic ball: squeezeful thinking.

Another boring day in the cryptoshere. Market cap barely moved, but bitcoin scared everyone again after testing $45.5k again a few hours after the newsletter was sent. As said before, it's comforting to see bears can't break that support down. But it's also eerie that price remains hovering around that area, as it weakens confidence and removes momentum from any plays with riskier alts.

Meanwhile, as traders lose patience we'll likely see an increase in leverage. Hopefully, negative sentiment will entice noobs to open leveraged shorts and we finally have fuel for a squeeze up. The ideal scenario would be for BTC to reclaim $52k and remain stuck between that level and the previous ATH in order for alts to moon over the next months. That's my wish for Q1 2022.

Dreams aside, several alts continue pumping despite the tough conditions. ICP, RVN, and AR all gained more than 15% yesterday, although the rotation game isn't an easy one to nail (and some even argue you shouldn't try to play such a metagame). Anyway, for now, the Layer-1 blockchain projects which didn't pump as much at the end of 2021 are taking the spotlight - e.g. ATOM, FTM, and NEAR which I briefly mentioned yesterday. I still believe they will continue to outperform the rest of the market this Q1, but it's time to look out for the next sector.

Chart art: exit liquidity.

Everyone and their mother is crazy about NFTs. Maybe this is the beginning of the euphoria we need to close this cycle.

Three things: beginners bliss.

Tweet tip: funny truths.

Not a tweet tip.

Meme moment: pedantic snobs.

TradFi tips and memes to juice up emotions in low volatility environments.

B21 App: extra security.

All your cryptoasset accounts should be secured with 2FA. Click on the link to know more.

Get started: download the B21 Crypto app!

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Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of guidance in the report will lead to any particular outcome or result.