6/ #APT is a new coin and not much data to bank on. But seems like it is flipping a consolidation level (green) and could target the (pink) above. If rest of the market continues to hold that is.
7/ Check out Espresso for frequent coverage on macro and crypto confluences. jarvislabs.substack.com
• • •
Missing some Tweet in this thread? You can try to
force a refresh
1/7 The Ongoing Issues With Third-Party Automation Providers And Spot Holdings.
2/7 For the last three months, users of a specific third-party automation provider have been voicing concerns over their spot holdings being manipulated.
3/7 No resolution has been reached by exchanges or third parties - they just tell victims to file police complaints.
1/ ICYMI, @coinmetrics@coinmetrics put together this incredibly comprehensive 40 page ETH research report:
"Mapping Out The Merge"
We found it quite informative and wanted to be sure to share it with our readers in TLDR format, with a few of our fav metrics for added context
2/ The Merge is scheduled to take place on 9-15-2022
When this happens validators of ETH's blockchain will switch from Proof-of-Work mining to Proof-of-Stake
PoW vs PoS has been the topic of much debate, but in short PoS proposes to improve ETH's security, economics,& emissions
3/ At present PoW miners alone validate transactions and secure Ethereum's network
Under PoS validators will lock up their ETH in exchange for yield (currently ~4.5% APY) this feature seeks to incentivize large holders to secure ETH's network with yield rewards as payment
/1: Funding rates went negative. Now analysts are saying its time to go long and a reversal is coming. Is there any truth to this?
Today we see what the data says and showcase a strategy you can employ to grab some alpha. #BTC
/2: To start off, funding rate is defined as the cost to hold a perpetual futures position open. Each exchange has subtle nuances to this, but generally speaking it updates periodically throughout the day and has a baseline where long positions pay short positions.
/3: Now when funding rate goes negative, it implies that traders going long are actually getting paid to keep the position open by those going short. This is not normal in the market.
Short-term high leverage liquidations #BTC: 19.7k and 22k. #ETH: 1,050
(1/4)
Low leverage positioning on #BTC and #ETH
On ETH, there are pools near 1300 to be taken out.
On BTC, once again near 25k area.
(2/4)
BTC Binance and aggregated funding is back to neutral.
A large majority of pairs on Binance USD-Margined Futures have turned to neutral. (2nd image shows the list of pairs with negative funding, rest are neutral funding except BTCDOM).
The 40k has been defended and is now sitting at 43.8k. Fed testimony and CPI events were in consensus.
So, what next? 🧐
Let's take a dive into some metrics.
(Thread) #BTC#ETH
30D returns were diminishing last month. Post-December drop, the metric has seen a steady rise as the price kept bleeding, forming a strong bullish divergence. It's now back in the threshold, and closing in on the 0% line. Once cleared, we foresee a few good performance weeks.
The accumulation trend scores on a 30D basis show that retail has confidence in accumulating on the bottoms whilst the whales are more reluctant to do so. Scores on a 7D basis indicate the same behavior in contrast to the divergence we saw in December.