NOTHING HEREIN IS FINANCIAL ADVICE. PLEASE READ THE DISCLAIMER BELOW
Bitcoin continues to be range bound. As boring as the weather forecast. And markets were quite due to Memorial Day Long weekend in US. Levels to watch are still 42K and 35K. Sometimes, range bound is good post such volatility. ETH is still following BTC King. We’ve written a lot about ETH here and still maintain our long term bullish thesis. That said, we have seen narratives shift faster than a speeding bullet. But we will be here to warn you. As always, the King BTC needs to hold for markets to rally again. Otherwise, all bets are off. For now, be patient. Don’t leverage and just sit back and watch the show. Let the bulls & bears fight as there is hardly any activity on-chain. This is super consolidation period. Volatility is done, funding rates are negative but we are watching our metrics and when they move, we move.
Some important metrics that we watch are listed in the table above. Soon we intend to publish them live on our website so that everyone can play around in the true spirit of crypto.
On the macro front, US is entering its Post COVID Relief Era and that could push demand higher across the board in medium to long term, bar any other new COVID variant or wave. Asia is gradually recovering and we are getting some positive news from everywhere. As things settle, there is a bullish bias. Inflation and Fed tapering, on other hand, are keeping the markets on edge
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