Thread by @realMatrixport

Get ready for another #Bitcoin rally!🚀

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#bitcoin #cryptocurrency #investing

1/10: Our Greed & Fear index dropped to mid-level last week, setting the market up for another #rally. With #Bitcoin still driven by #US #trading hours and a US public holiday on Monday, we expect US institutions to lift prices above 25,000 from Tuesday night onwards.

2/10: #Bitcoin and #Ethereum prices are both above their 50-day moving averages, which is a #bullish sign. The global #crypto market cap increased by 10.9% WoW to $1.17 trillion, with Bitcoin dominance at 40.4% for the week. Overall, the trend is up and the market is #bullish.

3/10: #Ethereum is currently underperforming #Bitcoin as the trend (20-day) moving average shows the #ETH/#BTC ratio is going down. This is due to #crypto being driven by beta factors, but the long-term potential for Ethereum is still strong.

4/10: The global #crypto trading volume increased by 17.8% WoW to $84.7 billion, which is a #bullish sign. #Bitcoin dominance is up because #altcoins are underperforming. However, the top 3 #stablecoin #marketcap and volume are in the 1%ile and 54%ile ranges, respectively.

5/10: Weekly #Bitcoin volume was 52% higher than average, while #Ethereum volume was 39% higher than average. This increase in trading volume is a #bullish sign for the market.

6/10: The top 3 #stablecoin #marketcap is down slightly WoW, but still in the 1%ile range. The volume is in the 54%ile range for the last 3 months. This is a neutral sign for the market.

7/10: Total Value Locked (#TVL) increased by 9% #WoW to $68.1 billion. #Lido TVL increased by 16.1% to $7.7 billion, with TVL inflows driven by the #staking sector. Lido dominates with a 94.9% market share. This increase in TVL is a positive sign for the market.

8/10: The number of active #BTC addresses increased by 10.2% over the last week to 858k, which is a #bullish sign. However, the no. of active #ETH add decreased by 4.5% to 673k, which is a #bearish sign. Eth's weekly transaction fees are 99% higher than av, which is bullish.

9/10: The #futures funding rate is positive for both #Bitcoin (9.5%) and #Ethereum (11.9%), which is a #bullish sign for the market. Bitcoin futures saw average daily liquidations of $37m, while Ethereum saw average daily liquidations of $24m, both seen as neutral signs.

10/10: Weekly revenue for #Ethereum increased by 13% #WoW to $43.91m, but #Uniswap, #Lido, and #BSC all saw decreases. This mixed bag of results suggests that the market is still in a state of flux, but overall, the outlook is positive.

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#crypto #altcoins #trading