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CRYPTO week ahead: June 27 – July 03Last week in the news Markets were closed higher on Friday, after a period of strong negative sentiment caused by FED`s moves and rhetoric around surging inflation. The US equity market was up by some 3% on Friday. Bitcoin moved above the $20K support line, while Ether manages to hold above $1K. Regardless of Friday`s modest rebound on financial markets, the optimism among market professionals is still not present. University of Michigan consumer sentiment showed a historically lowest level of 50 in June. Although this indicates a potential slowdown in the US inflation, still it also raises concerns of potential recession in the world`s largest economy. In this way currently major concern on markets is related to a question if the market has reached its bottom line with its latest moves to the downside, or is it still to come in the future period? The first experiment of Bitcoin adoption on the state level, a case of El Salvador, is currently fading away, as per CNBC`s article. Although the growth of Bitcoin seemed at first a good bet that could increase the wealth of the country, still, a 70% drop in Bitcoin price emerged an urgent need for cash and jeopardized El Salvador`s ability to pay its debt coming due. News is reporting that Goldman Sachs is leading a group of potential buyers of a company Celsius, a crypto lender, which has entered into huge problems lately. It is mentioned that this investment bank is looking to raise $2 billion in order to buy Celsius`s distressed assets at significant discounts. Netherland is introducing additional KYC regulation for customers using crypto exchangers. As it has been announced by Coinbase, in case that client is withdrawing cryptos from the exchange, additional details need to be provided, including full name and address and the purpose of the transfer. During the latest drop in crypto prices, many crypto companies are decreasing the number of employees in order to cut costs, however, Binance is one of rare firms which is actually hiring during these difficult times. Binance CEO, Changpeng Zhao, announced that Binance is expanding its business to a new platform called Binance Institutional, which will be used only by VIP and institutional investors. Crypto market cap Inflation is not anymore the main topic on the markets, but now it is a potential recession. Many analysts are in agreement that there is objective fear from potential drop in economic activity, which could trigger another sell-off of equities due to drop in earnings. Crypto market is part of the mainstream, in which sense; it would certainly be affected in a negative manner in case of an actual recession in developed economies. During the previous week there has been a modest rebound on the crypto market. Total market capitalization has been increased by 16%, to the level of $920 billion. Increase was led by major coins, however, altcoins significantly participated. Daily trading volumes have slightly decreased from the week before, moving around $170B on a daily basis. Total funds outflow from the crypto market from the beginning of this year currently stands at $1.260B, which is a decrease of 58%. Modest rebound of the crypto market during the previous week was led by BTC and ETH. BTC gained additional $53B, which is an increase in the cap of 15% on a weekly basis. ETH`s market cap was up by $30B or 26%. Altcoins were led by BNB and XRP, where BNB managed to recover $6B in market cap, increasing its value by 21%, while XRP`s cap was increased by $3B or 20%. Highest gainer of the week in relative terms was Polygon, which managed to increase its market cap by 67%. Tether continues to follow bearish moves, decreasing its coins in circulation by additional 2% compared to a week before. Crypto futures market Rebound of the crypto market was evident in crypto futures. Bitcoin futures with shorter maturity were up by some 3%. Maturities as of the end of this year remained relatively flat compared with the week before, indicating that the market is still unsure about the BTC`s future direction. Maturities as of the end of next year were down by 4%. ETH futures with shorter maturities were up by 13%. Major move for ETH futures was for maturities as of the end of this year, which were up by 11%, however, December 2023 remained flat at $1.2K. Disclaimer: This article provides exclusive views of the author. It does not in any sense represent a suggestion for trading.
CRYPTOCAP:TOTAL
by XBTFX
COIN- Fundamental and technical analysis****NOT THE INVESTMENT ADVICE**** I'm neutral in my assessment. Please do your own due diligence. In this analysis, I leave out external and macro factors such as crypto adoption and regulatory concern. Rather, I want to focus on things Coinbase can control. Main points- To start off, I believe Coinbase has the bright future and its biggest risk is the execution risk. However, in order for it to succeed, few conditions need to be fulfilled. ***The big bets need to take off (NFT market place, potential derivative offerings & Dapp marketplace and Coinbase wallet). When they do, the subscription and service revenue would go up and the decoupling may happen (crypto market price crash will have less effect on the COIN price) or at the very least Coinbase will be less dependent on the trading revenue, which currently accounts for 87% of the total revenue). ***NFT marketplace must take off next year- Both FTX and Binance have tried, but they failed to win the significant market share from OpenSea. What other strategies does Coinbase have to win market shares from OpenSea other than enhanced social features and trading fee waiver when the overall pie isn’t growing? (NFT trading volume and floor price are trending lower) ***Coinbase wallet must acquire more market share- How can Coinbase monetize the wallet when the market-leader MetaMask is provided for free? The success of Coinbase wallet is essential so Coinbase doesn’t become just another fiat on-ramp provider. It’s also instrumental to Coinbase’s overarching strategy of becoming all-encompassing platform where users can access all crypto-related activities. ***How to extract more revenue from institutional investors? Any strategies to increase the custodial fee and commerce fee? The upside- Cardano staking- Most of the subscription and service revenue come from the blockchain reward and the blockchain reward itself is consisted of mostly staking revenue. Cardano staking may further boost the blockchain reward revenue when it’s already the second biggest revenue source for Coinbase. Coinbase is focusing on its long-term vision- DeFi, Protocols+Web Infra and NFT/Mertaverse account for 60% of Coinbase’s ventu res portfolio. This is important as most major use cases in crypto ecosystem come from DeFi, NFT and DAO space. Still the most trusted brand with advanced and industry-leading security features. It has the security infrastructure and regulatory compliance advantage against international competitors such as FTX and Binance. While against domestic competitors such as Gemini and Kraken, it has the crypto offering advantage. Strong balance sheet enables Coinbase to acquire competitors during the crypto winter. Most of its long-term debts are convertible notes with the earliest maturity date in 2026. Still the leader of regulated U.S exchanges based on the spot volume, around 46% in 2021. Coinbase has recently become the first-ever crypto firm to join the Fortune 500 list of the largest U.S. firms by revenue. One caveat is that there are no strong barrier and switching cost that would prevent Coinbase customers from going to another exchange. More sustainable moat can be achieved if Coinbase can create a platform that provides all-access to crypto activities, realizing its long-term vision of becoming the Amazon of crypto services. Problem diagnosis- Verified user, trading volume, MTU and ATRPU are the most important metrics to watch out for in addition to other common financial metrics. The persistent theme is that the the declining trade volume and MTU (Monthly transacting users) are hurting Coinbase. Trading revenue accounts for 87% of overall revenue, the rest in subscription and service revenue, mostly in blockchain reward from staking. Retail only accounts for 23% of trading volume, but it accounts for 95% of trading revenue- Retail actually pays 14x the fee compared to institutional. Not much revenue is generated from institutional clients even though they dominate the trading volume because they receive deep discount for executing large trade, bringing in the flow, proving liquidity and acting as market makers. As soon as there’s some regulatory clarity, trading fee erosion can happen when bigger financial institutions and banks decide to enter the space, leading to the race to the bottom effect. Decline in retail trading volume while Institutional trading volume actually went up during the same time- Altcoins now account for fully 55% of transaction volumes and they are likely contributing to the rapid decline of retail transaction volume. Retails trade a lot of altcoins during the bull market and they stop trading altcoins in bearish market or when the volatility is low. Institutionals, on the other hands, trade mostly in Bitcoin and Ethereum and their trading volume is less affected by the market downturn. One could argue that this is the downside of adding more risky assets on the platform as it adds more volatility during the bear market, though these same assets flourish and bring in a lot of revenue during the bull market. Therefore, it’s a double edged sword. Increase in verified users and MTU may not translate to increase in ATRPU- Increasingly, users are engaging in more non-trading activities such as yield-generating staking which generates far less revenue than high-fee trading activities. This is not necessarily a bad thing as Coinbase has always been pushing for a more diversified revenue stream.
 In summary, Coinbase will likely continue to have more verified users, but even if those verified users become MTU, it may still experience the decline in revenue and ATRPU because of the decline in retail trading volume, trading activity and trading fee unless Coinbase can somehow find ways to extract more revenues from institutional clients and increase the percentage of the subscription and service revenue in total revenue. The downside- Weakening guidance as the company anticipated further decline in trading volume and MTU in 2022 Horizontal analysis revealed that Equity-Based Compensation (EBC) and SG&A ballooned while revenue suffered this quarter, leading to the weakening operating leverage. This concern is somewhat addressed during the recent 18% layoff as Coinbase aims to keep the EBITDA loss around 500 mil in the face of decline ATRPU, NOPAT and FCF. Impairment cost rule means Coinbase could suffer more non-cash loss on its crypto asset investment in the near future if the market selloff triggered by the Terra/Luna debacle and over-leverage unwind continues. Despite the strong balance sheet, customer custodial funds account for nearly 50% of the total asset, making Coinbase susceptible to the potential bank run risk. Coinbase recently filed shelf registration statement with the SEC. Just a minor concern as It has no intention to issue any new stocks anytime soon. Structural and ecosystem risk- Coinbase has strong interdependent and venture capital relationship with many crypto firms it invests and supports in its venture portfolio. Any insolvency and liquidity issues these firms experience during the prolonged bear crypto market could potentially have the negative impact on Coinbase’s operation. In summary, Coinbase has never been hit by bad macro environment and crypto downturn at the same time. In order for it to navigate through the current bear crypto market, Coinbase needs to apply the combination of financial prudence and execution nimbleness while making sure the development of high-priority product and service can continue unaffected.
NASDAQ:COIN
by Libratus
1
CRYPTO week ahead: June 20 – 26Last week in the news The FED has once again moved the markets to the negative territory. Another rate increase of 75bps and potential for another one in July, encouraged another sell off on the markets during the previous week. Bitcoin slipped below $20K support and Ether is modestly below $1K. At the FOMC meeting held during the previous week, the US reference interest rate has been additionally increased by 75bps. In a Statement, FED` Chair Powell noted that there is possibility for rates to be additionally increased during July`s FOMC meeting for additional 50bps or 75bps, which will depend on macro data. The ultimate goal is to bring US inflation down to the strategic level of 2%, and this fight will be “unconditional” as Powell stressed. During the Conference after the FOMC meeting, Fed Chair Powell also commented that US financial stability is necessary to support USD as a global currency. He specifically mentioned the introduction of digital currencies and instant payment systems which are expected to be launched by the year 2023, similar to the FedNow. Analysts are noting that such systems will support USD as a world's reserve currency. Coinbase sent a letter to its employees noting that some 18% of jobs in the company will be cut. Company's CEO, Brian Armstrong, stressed the possibility of a recession, in which sense, the company needs to prepare for such a business environment. Analysts are concerned that one of the highest bets on Bitcoin in the history of this market, a company MicroStrategy could suffer huge losses considering the latest high drop in BTC value. They are most concerned about margin calls if BTC falls below $21.000, which would force MicroStrategy to liquidate some of their BTC holdings. The CEO of the company, Michael Saylor, commented on Twitter that the company “has 115.109BTC that it can pledge”, in which sense, they have prepared for high volatility in the value of BTC. Binance issued a statement on Friday, noting that the company has stopped transfers through Brazilian payment system Pix, since they terminated cooperation with Capital, a Brazilian payment operator. This comes as a response to changes in policy of the Brazilian Central Bank. Crypto market cap As the FED made a promise a few months ago that they will use aggressive monetary policy in order to fight surging inflation, this promise came to reality within two previous FOMC meetings. Strong reference rate increase will continue probably in July, as Fed Chair Powell noted. In the Statement after the meeting he briefly mentioned that the Fed is currently targeting level of interest rates at 3,5%-4% probably during the course of this and next year, however, it will all depend on the macro figures in the coming period. At the same time, FED started decreasing the size of its balance sheet, pulling the liquidity out of the system. Such rhetoric and moves from the FED turned financial markets further to the sell-off. Total crypto market capitalization decreased by 30% during the previous week, erasing additional $350 billion from the market. Market cap dropped below $1 trillion, reaching almost $800 billion, a level from December 2020. Daily trading volumes were flat, moving around $125B on a daily basis. Total outflow from the beginning of this year went modestly above $1.4B, which is a decrease of 64%. During the previous week all coins were traded in red with significant outflow of funds from the crypto market. The highest outflow in nominal amounts was led by the leading coins. Bitcoin was down by $195B which is a decrease of 36%. BTC is followed by Ether, with a loss in market cap of $72B or 38%. Binance Coin was also negatively affected as the coin decreased its market cap by $13B or 28%. Tether continues to decrease its coins in circulation, losing additional 6% during the previous week and reaching a level of $68 billion coins. Crypto futures market FED`s aggressive policy is making its hard impact also on the futures market. BTC futures were traded lower by some 30% for all maturities. Market expectations for BTC`s price as of the end of this year are strongly downgraded from a week before, and were traded modestly above $21K. Maturities for the end of the next year were lower by $10K, reaching $23K. ETH futures suffered a higher drop in price, where shorter maturities were down by 35%, while longer maturities were down by almost 40%. Prices of futures for the end of this year reached level of $1.1K, while for maturities as of the end of next year were modestly higher, moving around $1.2K. Table below provides the most recent information on BTC and ETH future prices. ibb.co
CRYPTOCAP:TOTAL
by XBTFX
Total Crypto Market Cap: Warning Signs!Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Total Crypto Market Cap. The chart is self-explanatory. The total crypto market cap fell out of the Ascending Channel and Bear Flag (exactly as predicted!). The measured moves are shown in the chart. Though I want to be bullish on crypto, it seems there is still strong downside pressure with the measured moves still intact. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. First warning sign - Jan 2022: Second warning sign - May 2022: Third warning sign - June 2022: Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
CRYPTOCAP:TOTAL
by MillionaireEconomics
4
CRYPTO week ahead: June 13 – 19Last week in the news Inflation in the U.S. hit new records in the last 40 years, reaching 8.6% in May, as published on Friday. The US equity markets closed lower after the results, as well as the crypto market. Bitcoin is finishing the week below $30K support, while Ether is testing a $1.520 support line. Inflation figures and monetary policies were in the spotlight of the market during the previous week. Markets were waiting to see if the latest FED's monetary moves would manage to put a halt on inflation, expecting it to stay at least on April`s level of 8.3%. However, CPI exceeded expectations, reaching 8.6%, which is its highest level in the last 40 years. Output figures put investors into a negative mood, considering their increased expectations that FED will continue with its aggressive monetary policy in order to put inflation under control. ECB meeting was held on Thursdays, where it has been concluded that the rate hike of 25 bps is coming in July, for the first time after almost 11 years. Further rate hikes are also possible till the end of this year, with the next one probably already in September. At this meeting, ECB officials increased their expectations on future development of inflation while, at the same time, they decreased expectations on EU zone growth. EU equity markets were traded lower both on Thursday and Friday. In order to sustain competitiveness on the market, a company Checkout.com, conducting business within a field of online payments, announced that it will start accepting stablecoins for payment of goods. In partnership with Fireblocks, a crypto security firm, they are currently implementing a feature which would allow payments in USD coin, pegged to $1 USD and currently world`s second stablecoin in terms of its market cap. New rules for stablecoins have been issued and adopted by the New York State Department of Financial Services. Licensed companies which deal with cryptocurrencies from now on would have to comply with the rules requiring reserve requirements for stablecoins which would make stablecoins redeemable, as well as, regular monthly auditing. Another large company is joining the crypto club. The American Express, card issuing company, announced the issuance of its first card linked to crypto currencies. In cooperation with Abra platform, the Abra Crypto Card will be offered to American Express card holders where they will be rewarded in crypto currencies for their purchases. Professionals from the investment companies Grayscale and Bitwise shared their optimism that first spot-BTC exchange traded funds might be approved soon by the SEC. They shared their insights at CoinDesk`s Consensus 2022 gathering held during the previous week. Applications for ETF`s from both firms have been submitted and waiting for final SEC`s decision until the end of June and beginning of July this year. Crypto market cap Inflation figures continue to drive market sentiment, including also the crypto market. Investors are looking at the moment when CPI figures will reach their peak level, since it will mean that FED will ease their current aggressive monetary policy and halt further increase in interest rates. The US CPI figures from Friday are a certain signal to markets that FED will continue with monetary tightening and further increase interest rates. Such indications are already confirmed by Fed Chair Powell, commenting on the latest inflation figures. Recession is now a word with increased use among market participants. The crypto market reacted to CPI results in a negative manner, since this means further pull of liquidity from the markets, including the crypto market. Total market capitalization is finishing the week at a level of $1.13 trillion, which is a decrease of additional $74B or 6% on a weekly basis. Daily trading volumes remained relatively flat during the week, moving between $165B down to $125B on a daily basis. Total outflow from the beginning of this year went modestly above $1B, which is a decrease of 48%. Major coins were the ones leading crypto market cap decrease during the previous week, with ETH leading the list. Ether lost additional $28B in market cap within a single week, which is a decrease of 13%. Bitcoin took the second place with a drop of $21B in market cap or almost 4%. Surprisingly, Binance Coin lost almost $5B within the week, which is a drop in market cap of more than 9% for this coin. List of other coins who finished the week with loss in market cap of more than $1B include XRP, losing some 6% in value, Dogecoin with a drop of more than 13% and Solana, with a drop of 9%. Despite the general market trend, there had been few coins which managed to modestly increase their market cap like LINK with an increase by 4% and Theta with additional 3% increase in value. As for coins in circulation Tron had a decrease by modest 0.5% while Filecoin increased its circulating coins by 1.7%. Crypto futures market Crypto futures were traded lower during the week, following spot market developments. However, as the official market closes on Friday, developments during the weekend still have not been priced, in which sense; Monday will be day to watch for current futures levels. BTC futures ended the week around 1% lower from the week before, where maturity in December this year still holds modestly above $30K. On the other hand, ETH futures were traded around 5% lower from the previous week. Maturities as of the end of this year finished the week some 3% lower from the week before, but still modestly above $1.800 level.
CRYPTOCAP:TOTAL
by XBTFX
Total Crypto Market Cap: 1D ChartHello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Total Crypto Market Cap. The chart is self-explanatory. The total crypto market cap fell out of the Ascending Channel. The measured moves are shown in the chart. Though I want to be bullish on crypto, it seems there is still strong downside pressure with the measured moves still intact. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Check out my recent BTC 1D Chart review analysis below! Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
CRYPTOCAP:TOTAL
by MillionaireEconomics
4
CRYPTO week ahead: May 30 – Jun 5Last week in the news Latest output of economic data is modestly increasing investors' confidence that inflation in the US might be slowing down, after the latest measures imposed by the FED. The US equities finished the week in a positive territory. However, the crypto market is currently on hold. Bitcoin is finishing the week modestly below $28K, Ether holds above support at $1.750. One of the favorite FED`s indicators for inflation estimate is Personal Consumption Expenditure in the US. This indicator rose 4.9% in April, which was in line with market estimates and significantly less from March`s 5.2%. This figure brought some relief on the financial markets as it will mean that FED will probably slow down with further increase in interest rates, but it still does not mean that FED will halt further liquidity squeeze from the market, so further risks for financial markets still exist, as inflation in the US still holds at 8.3% y/y in April. Investors who founded Terra project are not ready to give up on it, after its recent total debacle on the market. As per news, they are ready to renew Terra 2.0 ecosystem, whose recent crash of UST and LUNA caused estimated losses of around $60 billion. Terra will launch a new blockchain and airdrop new LUNA tokens to users who already possess the old LUNA and UST tokens. On the other hand, analysts are sceptical if this project might still be a success, considering that it would be extremely hard to rebuild market trust. At the World Economic Forum held in Davos, Switzerland, last week, almost half of participants were from the crypto industry. At an event called Promenade, where people from various businesses are able to meet people from governments, the most dominant businesses were from the crypto world including Meta and SaleForce. This is the first time in history of WEF meetings that the crypto businesses are taking the lead among all other industries. Binance is continuing its expansion in Europe with its latest office in Italy. Last week the company secured an operating license for offering virtual asset services in Italy from a local regulator. Binance recently gained regulatory approval for operations in France, Bahrain and Dubai. Elon Musk again supported Dogecoin by tweeting that SpaceX will soon allow for commercial items related to this SpaceX project to be bought using DOGE coin. After he tweeted this news, the coin`s price was increased by 10%. Musk` s company Tesla has allowed the same purchases since December last year. Crypto market cap Despite indications that inflation in the US is slowing down, the crypto market continues to trade sideways. Dip buyers are still on hold, waiting for comments from FED in relation to their further moves to cope with inflation. During the previous week total crypto market capitalization decreased by an additional $57B or 5%, ending the week at a level of $1.19 trillion. Weekly decrease was led by Ether, second week where this coin is outperforming BTC, unfortunately, in a negative way. Daily trading volumes were further decreased, moving around $135B on a daily basis. Total outflow from the beginning of the year is nearing $1B, which is a decrease of $45% within five months. For a second week in a row Ether is leading drop in total market capitalization, and beating the BTC for a second week. During the previous week Ether lost almost $24B, which is decrease of 10% on a weekly basis. Bitcoin took second place when it comes to funds outflow, losing during the week $10B or almost 2% of market cap. Significant drop had Solana, with decrease of $3B in market cap or 17%, while XRP continued its turn to the downside, with another drop of $1.5B or 7% during the week. Group of coins which lost above $1B includes Binance Coin, whose market cap was down by additional 2%. On the other hand, there were gainers during the week, like Ethereum Classic, which gained 11%, followed by Bitcoin Gold, with weekly increase in market cap by 15%. Tether continues to decrease coins in circulation, losing an additional 1% in market cap, or $730 million within a week. Crypto futures market Spot market was traded sideways; however, investors on futures markets were not so optimistic during the week. BTC`s both short and long term futures were down around 2%, where maturities as of the end of this year are holding modestly above $30K. On the other side, ETH futures experienced much higher drop. Short term futures were down by some 10% in line with the spot market; however, the latest price for the end of this year was down by 14% on a weekly basis, reaching level of $1.780, and below the $2K psychological line for ETH.
CRYPTOCAP:TOTAL
by XBTFX
One big gap in the crypto winter? With the collapse of UST (TerraUSD) and the depeg of USDT (Tether), the fear level in the cryptocurrency markets is at a high. The total market cap of the cryptocurrency market has more than halved since the peak as market participants rush to exit, preferring fiat over digital dollars. The net outflows have left Bitcoin prices teetering on the edge of no man’s land with no support in sight. A brief break of the $30,000 psychological support level on May 12, as well as the 61.8% Fibonacci retracement level, all points to potential further weakness for Bitcoin. Things get uglier when we look down for support. A big gap remains from current price levels to the next level of support at the $20,000 range, followed by the next Fibonacci retracement level at the $18,000 range. As headwinds including regulatory crackdowns and continued risk-off sentiment compounded for the cryptocurrency markets, we expect more downside from here. Be careful out there! Entry at 30,200, stop above 36,915. Targets are 23,000 and 20,000. Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
CME:BTC1!Short
by inspirante
The shattering of the cryptocurrency bubbleSince November 2021, the total market cap of cryptocurrencies has started to decline. Indeed, it has declined approximately 60% until now; meanwhile, the selloff has accompanied this in more than 20 000 cryptocurrencies. Moreover, volatility remains highly elevated, and short-lived bounces in the price of tokens, followed by fast crashes, suggest anxiety among market participants. These are particular signs of the downtrend, which is poised to continue further. Technical and fundamental factors support this view. All - daily, weekly, and monthly time frames - remain bearish. Additionally, altcoins experience outflows of capital, while Bitcoin sees capital inflows. That hints that people are flocking to Bitcoin from other riskier coins. At the same time, the prospects of higher rates in the U.S. and around the globe pose threat to the purchasing power of cryptocurrencies. Therefore, our outlook is very bearish and we voice a word of caution to the market participants. *additional ideas in which we detail how we navigated the current downtrend are attached below the idea ATH of the total cryptocurrency market cap = 3.009 trn. USD (10th November 2021) The current value of the total cryptocurrency market cap = 1.217 trn. USD Illustration 1.01 Illustration 1.01 portrays the total cryptocurrencies market cap excluded BTC. Illustration 1.02 The picture above shows the dominance of BTC. It can be seen that its dominance has started to increase as other altcoins started to puke. Illustration 1.03 Illustration 1.03 shows the daily chart of BTCUSD. It also shows how it correlates with the total cryptocurrency market cap. A strong positive correlation is shown. *A strong correlation can be observed also with the tech sector which experiences "tech winter". Illustration 1.04 The illustration above shows LUNA (against USDT), a popular stablecoin that gained a lot of press within the past few days due to its sharp drop of more than 99%. This event foreshadows more similar events to come in cryptocurrencies that lack any other use than speculation. Illustration 1.05 Bitcoin has entered the "free-fall area" - an area with the absence of support. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
CRYPTOCAP:TOTAL
by Tradersweekly
4
Total Crypto Market Cap 1M Chart ReviewHello friends, today you can review the technical analysis idea on a 1M linear scale chart for the Total Crypto Market Cap. The chart is self-explanatory. The total crypto market cap fell out of the Ascending Channel. The measured move is shown in the chart. Lastly, this is a monthly chart, so please have patience. Included in the chart: Trend line, Ascending Channel, Support and Resistance Lines, RSI. Have you read my Bitcoin: No Hopium Discussion 2? Check it out -> If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
CRYPTOCAP:TOTAL
by MillionaireEconomics
3
Breaks of a Parabolic TrendRight now we are experiencing bearish action which will ultimately result in a break of this parabolic trend, this might seem grim, however the past two times have led to a recovery of the trend This might occur again and the bull market will resume. The white zones of the RSI are the break points of the Trend I am suggesting a further down move, but a stronger recovery to follow this. I do not believe the Bull market is completely over. Perhaps im a permabull.
CRYPTOCAP:TOTAL
by Bixley
Cryptocurrency Market Cap Downtrend to Sub $1 Trillion Crypto has taken a beating, risk-off markets are driving speculative assets & equities down. Current trend reflects bearish continuation, with MA6 rejected cleanly off EMA18. Looking at long-term channel with current trend, total crypto mcap to sub $1 Trillion is possible... settling between $950B & $975B early July. Fed will get a few rate hikes of 50 bps in, QT will see some Central Bank balance sheet reductions, driving markets to acknowledge economy is in recession. Path ahead from July is uncertain, closely monitor Bitcoin exchange inflows along w/ NASDAQ & S&P500... market reversal will be clear if inflows drop and we see traditional markets stop bleeding out.
CRYPTOCAP:TOTALShort
by R0MM3LL
TOTAL/BTC BREAKOUT You can see that BTC has beautifully broke up. However if we look at the total crypto market there was no breakout. This could indicate that there is further downside or that the real test will be after BTC's breakout of the descending broadening wedge if we look at current price action of BTC If BTC breaks 39k it will go and test the highs of 43-46k. Breaking 46k will start a new bull run, probably to a new all time high. However, BTC already broke down from both the triangle formation and the descending broadening wedge pattern. Now if it gets rejected from the same trendline it will dump quick and by a lot, probably retesting the lower 30s. ------------------- Please leave a like. -------------- BTCUSD BTCUSDT STACKING SATS
CRYPTOCAP:TOTAL
by KaynakiKaymaki
2