A few (further) thoughts on the current crypto market:
๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ง๐๐: Yesterday, for the first time, we saw net inflows of over 1 billion US dollars into $BTC (+0,09%) ETFs for the first time. The inflows are not only continuing, they are ๐ฃ๐ฆ๐ด๐ค๐ฉ๐ญ๐ฆ๐ถ๐ฏ๐ช๐จ๐ฆ๐ฏ increasing. Rising demand meets limited supply...it doesn't take a genius.
$ETH (+1,44%): Happy Dencun Day! Ethereum will undergo its next major upgrade later today. TLDR: Transactions on rollups become cheaper. Compared to the merge, there is almost no hype around this upgrade - and wrongly so. The fact that almost all memecoins are currently traded on Solana shows that the Ethereum ecosystem still has a cost problem and needs to remain competitive.
๐๐ง๐ ๐๐ง๐: The market is increasingly pessimistic about the prospect of approval in May. The reasons given are entirely procedural (silence between SEC and applicants). To me, this seems like a healthy expectation, which would dampen the sell-off in the event of a rejection (because it would be priced in), but would bring corresponding upside potential in the event of approval.
๐๐น๐๐ฐ๐ผ๐ถ๐ป๐: While BTC marked a new ATH a few days ago, most altcoins are still lagging behind.
- $SOL (+3,92%) -43%
- $MATIC (+0,89%) -58%
- $AVAX (+3,3%) -63%
Definitely still a lot of potential, but also a very high risk of burning your fingers with leverage.
Big picture: super bullish.