A few (further) thoughts on the current crypto market:
ππΆππ°πΌπΆπ» ππ§ππ: Yesterday, for the first time, we saw net inflows of over 1 billion US dollars into $BTC (-3,73%) ETFs for the first time. The inflows are not only continuing, they are π£π¦π΄π€π©ππ¦πΆπ―πͺπ¨π¦π― increasing. Rising demand meets limited supply...it doesn't take a genius.
$ETH (-8,63%): 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.
ππ§π ππ§π: 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.
ππΉππ°πΌπΆπ»π: While BTC marked a new ATH a few days ago, most altcoins are still lagging behind.
- $SOL (-8,58%) -43%
- $MATIC (-6,56%) -58%
- $AVAX (-8,09%) -63%
Definitely still a lot of potential, but also a very high risk of burning your fingers with leverage.
Big picture: super bullish.