One thousand pages
3 min read

One thousand pages

Cryptic ball: contrarian relief.

This was a nice Tuesday for most markets. Bitcoin finally caught up with ether, appreciating some 5% while the runner-up lost a couple of percentage points. And US equities pumped too, as corporate earnings and a weaker dollar provided relief.

  • Moreover, Bank of America's monthly global fund manager survey, highlighted in today's chart, also suggested the bottom is near or even behind us for stonks, as investors shared their risk appetite was at historical lows!
  • The question remains whether this is just a nicely timed relief rally, taking advantage of the fact there's no forced selling currently going on and of the fact that most investors still need to allocate their capital and can't simply go short.
  • As explained earlier, I tend to agree the bottom is behind us and that we'll see a true recovery as Q3 approaches, because the Fed will have to please both bulls and bears for November's midterm elections in the US.
  • Some of my favourite bears also agree that "the crash is already in the rear-view mirror". Check today's tweet tip for the final ingredients required for the lift-off of the stocks of quality companies and - I shall add - of quality alts!

Lastly, it's also key to remark that the scapegoats of this crypto cicle have been found - with a 1000-page legal document detailing the downfall of Three Arrows Capital. This is another sign which can provide comfort and signal a bottom!

Chart art: adversarial despondency.

Remember what they say about blood in the streets. After all, even Netflix pumped!

Three things: confrontational anger.

Tweet tip: reactionary relief.

Remember Puru nailed the December top.

Meme moment: conformist disbelief.

Remember sheep are not going to make it.

FV Bank: the future of settlement.

Learn more about the growth of the crypto payments infrastructure.

Get started: download the B21 Crypto app!

Subscribe to our newsletter
Follow us on Twitter @b21official
Follow us on Twitter
Join our Telegram group
Find us on Instagram
Watch us on Youtube
Legal Notice
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.