ETF Game
3 min read

ETF Game

Cryptic ball: it may be a calm weekend.

And the weekend is here. As anticipated, SHIBA hasn't continued pumping (maybe in a few weeks) and bitcoin failed its second attempt to break out of $55k. This makes me feel like the weekend will be rather muted for those alts who have been rising so far - except, perhaps, for FTM, which is on a tear (80% up in 2 days!)

Conversely, it is likely that other projects that were depressed in face of BTC's rise will finally catch up, such as SOL - which found clear support at $150 and seems ready to find a new all-time high next month; and AVAX - which is still in a downtrend, but which is also forming a bullish pennant that will resolve soon.

Meanwhile, oil prices continue to rise and US jobs creation data failed to meet expectations - by a lot. This is good in the sense that it will ensure the Fed thinks twice before spooking the markets with tapering of its monetary stimulus this year. Indeed, equities were recovering yesterday, but are dropping slightly today.

Despite the fall, note that the bounce of the S&P 500 and the Nasdaq is still playing out nicely, which will surely allow for a clean start of the week. To further help that, the US debt ceiling was raised as expected - at least until December. Lastly, remember what I wrote Wednesday: it's all about bitcoin breaking $60k! So, watch out in case it gets close to that level earlier than what I've anticipated!

Chart art: it may be an inflation hedge after all.

"Tentative signs that the previous shift away from gold into bitcoin seen during most of Q4 2020 and the beginning of 2021 has started re-emerging in recent weeks."

Three things: it may be that this is all a meme.

Tweet tip: it may be better to be like water.

Meme moment: it may be a small supercycle though.

The supercycle thesis argues that after years of bull and bear market cycles every couple of years, we may now be entering a longer market cycle due to crypto finally reaching mass adoption. What do you think? Blow-off top in some months or UpOnly for some years?

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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.