The correction in Bitcoin and Ethereum are close to having filled all the gaps on the week day only charts (seems to work).
Here is BTC
Here is ETH...
And here are all the big corrections after the last having.. 25% to 35% on a closing basis seems to be expected and normal.
These are times to add, when the short term guys with leverage have been washed out. Will it stabilize here? Who knows, but it feels like the add zone to stack some more..
A bit of shade being thrown about the Banana Zone. Let me clarify...
Macro Summer and Fall are driven by the global liquidity cycle that exhibits clear cyclicality since 2008.
Why since 2008? Well, back then the worlds all reset their interest payments to zero and they debt maturity to 3 to 4 years, creating a perfect macro cycle.
You can see the perfect cyclicality in ISM (the best guide to the business cycle)
Well, the genesis of ALL my thinking comes from Global Macro Investor, where @BittelJulien and I do our deep thinking each month (120 pages+).
I'm immensely proud of GMI and Ive been writing it for 20 years.... 1/
It is an expensive research service and is subscribed to by many of the world's largest hedge funds (usually the principals), SWF's, Asset managers, RIA's, Family Offices and HNW investors.
It also has the best proven and recorded track record of any research service...ever.
A 20-year track record of performance is not something that any other service provides.
My track record has many 100% plus years (thank you crypto!), many decent years, some so so and some bad ones. But it is all timestamped and transparent.
What is Macro/Crypto Summer and why does it matter?
Well, macro summer has started, its the part of The Everything Code cycle where the ISM picks up (GDP growth).... 1/
And that is driven by liquidity, which bottomed at the end of 2022... macro summer and fall are all about liquidity rising and is a core part of The Everything Code thesis...
And that, in turn, lifts tech stocks... they LOVE macro summer and fall...