The Great Bear
3 min read

The Great Bear

Cryptic ball: the fallen knight.

This was a smooth day in the markets, albeit more positive for crypto than for stocks. While bitcoin continued its bounce from Wednesday's bottom-of-the-range test, the S&P 500 made a lower low and the Nasdaq failed to impress. What's next?

  • As explained Friday and Monday, Wednesday marked this week's volatility peak. Now it's time to wait for the weekend, noting that speculation about the Fed's plans for its July 27th press conference will increase next week.
  • So far, Fed officials have been claiming a 100bps interest rate hike is out of the cards. But similar comments have been made in the past regarding the 0.75 percentage points hike - so few trust them. Let's see how that goes now!
  • Back to crypto, it's good to see that things look reasonably solid, even amid rising contagion fears in the aftermath of the bankruptcy of Celsius, which today disclosed it has a $1.2 billion hole in its balance sheet (for now!)

This could be the last piece in the falling crypto house. I still believe the dominoes have already collapsed and these are just the ashes, but I may be wrong. After all, retail has nothing left to sell, so maybe these forced sellers can be absorbed!

Chart art: the mining yankee.

Prices won't pump until miners start accumulating again. It's that simple.

Three things: the honourable samurai.

Tweet tip: the yankee curve control.

This Yankee knows it. Understanding this is key, or else NGMI!

Meme moment: the yahweh moment.

Losing is learning! 

FV Bank: where to find alpha.

Watch Miles Paschini discussing "Where to Find Alpha" with Caitlin Long, and Stephen Rust.

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 the guidance in the report will lead to any particular outcome or result.