Bitcoin Breaks Out

Weekly Wrap: 16th October - 23rd October gm When I began compiling this week's newsletter, Bitcoin was sat at just over $31k and we're now sitting at $34.5k. I think it's fair to say the bulls are back in the room! There is definitely a lot of excitement about the potential for a Bitcoin Spot ETF on the timeline. Some developments suggest things are moving along behind the scenes. However, Bitcoin isn't the only crypto to see a boost. In fact, both $LINK and $SOLANA are up...

Fake ETF Approval

gm Today was certainly a good morning for some with Bitcoin briefly bouncing to 30k but it was a horrible morning for Coin Telegraph who shared the fake news that a Bitcoin ETF had been approved. Even though mistakes do happen, this isn't a great look for the maturity of the crypto market and its press. The single post led to mass liquidations as people acted on the information. You can almost guarantee that regulators will be looking at what happened here and considering the implication...

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Uptober, Choptober or REKTober?

Weekly Wrap: 2nd October - 9th October Darklays by OSF.art gm After an initial boost last week, "Uptober" has been more of a "Choptober" so far with very little change to Bitcoin and a small drop in the price of Ethereum after the Ethereum Foundation sold $2.74 million of ETH on Monday 9th. No news on the ETF front either. Mostly the markets seem to be sitting and waiting for the next big move. There are certainly a few potential catalysts in play right now. One less than optimistic take come...

Uptober off to good start.

Weekly Wrap: 25th September - 2nd October September gm The timeline is practically bubbling with excitement at the prospect of "Uptober". This is based on the fact that 8 out of the past 10 Octobers have seen positive price action for Bitcoin. Things got off to a good start with the crypto majors both jumping about 3% in a matter of minutes at the start of this week. Although things have cooled off a little since then. This week has seen the launch of Ether futures ETFs in the US and that no ...

Rolling Stone is no longer bored...

Weekly Wrap: 18th September - 25th September gm This week's "hot take" from the Rolling Stone is that NFTs are now officially "totally worthless"... This is based on a study that looked at 73,257 collections and established 69,795 have a market cap of zero. That leaves 3,462 collections worth at least something by my calculations in a sector that barely existed a few years ago. Not to mention, this is like saying that cryptocurrencies are dead because at least 40% have been deactivated a...

⌐◨-◨ Nouns Fork ⌐◨-◨

Weekly Wrap: 11th September - 18th September gm I've mentioned Nouns DAO a few times in this newsletter because I think it is an interesting experiment. Once per day, a new NFT is auctioned at nouns.wtf with the funds going to a treasury. Every Noun owned is membership within the Nouns DAO and equal to one vote. Anyone can submit proposals to the DAO to request funding for projects that spread the Nouns meme. With the sheen of the bull market fully worn off, Nouns NFTs were trading below...

Bearish Trading Conditions

Weekly Wrap: 4th September - 11th Septembergm September is already shaping up to be the disappointment it was expected to be in terms of price action. While the stats shared below are taken from the weekly open, current prices are already a further 2-3% lower and we're only a third of the way through the month. There has been lots of speculation that the market action is people attempting to get ahead of potential sales of $3.4 billion of digital assets this week from the former exchange...

The Bitcoin ETF Rollercoaster

Weekly Wrap: 28th August - 4th Septembergm One of biggest excitements this week was Grayscale's win against the SEC which many have stated clears the path for an ETF filing. Immediately the market made a leap. However, just a couple of days later, the news was released that decisions current ETF filings has been delayed by 45 days and the market has now retracted all of the Grayscale moves and more... Source: Bitcoin Coaster On the NFT front, volumes continue to find new lows and it appe...

"The Bear Marches On..."

Weekly Wrap: 21st August - 28th Augustgm Unfortunately for many, there was no instant rebound after the market decline last week but it also did not continue the rapid descent either. As we slowly emerge from a sleepy summer, all eyes are fixated on whether this was the start of a new decline or a strong case of "buy the dip". I'm certainly no macro finance expert, but it appears as though there are a few events scheduled for the next few weeks that could help us find that answer sooner,...