From the Earth
3 min read

From the Earth

Cryptic ball: thank you, LUNA.

It was time to blossom, indeed. For now, bears have once again succeeded in defending $43k, a key level for bitcoin as explained yesterday. Are bulls getting tired? Or are some luckier alts - with AXS and NEAR jumping 8% and 12%, respectively - leading the way for the rest of the week?

  • Yes, ether was pumping more than bitcoin today, but it also experienced a double top on the hourly. Out of the major alts, I'm keeping an eye on SOL and LUNA, which were the first to pump and the first to find a local top.
  • As mentioned above, NEAR had the most spectacular ride of the day and its chart looks really great. I'll be looking for entries around $11.9, but be prepared for the possibility that another fresh macro scare ruins the party.
  • In the meantime, inflation concerns are becoming stagflation worries, as more and more participants in the global economy begin to factor in the difficult position central banks have put themselves into. What does this mean?
  • That even though US equity indexes have bounced to reasonable levels, this may be a dead cat bounce. In other words, cryptoassets need to fulfil the supercycle narrative for 2022 to be great - something I'll be following closely.

Overall, I feel bulls are not over and have another round to fight. Both in crypto and in stocks. As for crypto, let's also keep a watchful eye on the latest news from the Terra stablecoin, which just announced it would buy $3 billion in BTC!

Chart art: the end is NEAR.

We need more tokens to go wild to spark another alt season. For now, it's all about BTC. And, as you can clearly see here, I don't need to talk much about alts as it's all about ETH for them.

Three things: is the supercycle here?

Tweet tip: to the kwon.

Full circle, right?

Meme moment: what matters is the ceiling.

Just fractionalise it and buy a new floor!

FV Bank: meet us in Miami.

Meet the FV Bank and B21 founders Miles and Nitin at BTC Miami to discuss Bitcoin and banking, from April 6th to the 9th, 2022.

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.