Kevin Kelly Profile picture
Co-Founder @Delphi_Digital. Reformed macro strategist. Web3 enthusiast. Bad opinions my own. Good opinions likely not.
Aug 14, 2023 26 tweets 8 min read
The crypto market is highly cyclical.

Crypto market cycles are also remarkably consistent.

But their consistency isn’t just by coincidence.

They’re predictable.

If we're right, this has huge implications for the crypto market going forward.

Time to air out some charts... 👇 Evidence is piling up that we're in the early stages of a new cycle

Risk assets like stocks + crypto have been sniffing this out all year (as we've been noting @Delphi_Digital)

This isn't just another bear market rally IMO

Stick with me here cause it'll all come full circle...
Jan 10, 2022 17 tweets 5 min read
Why Bitcoin is Behaving Like It Should

Quick🧵on a couple takeaways from our latest market report 👇

(subscribe to @Delphi_Digital for immediate access) Bitcoin is one of the purest plays on fiat currency debasement

It also happens to be one of the most leveraged bets on global liquidity

When liquidity is abundant and expanding, $BTC and crypto assets tend to outperform; when liquidity tightens, they struggle
Jun 12, 2021 23 tweets 9 min read
0/ Breaking down my latest #Bitcoin report for @Delphi_Digital 👇

TLDR; $BTC needs another major catalyst to regain momentum and combat some of the uglier charts in the near term.

delphidigital.io/reports/the-go… 1/ Bitcoin’s price was cut in half in less than two months, driven by the major unwind in leveraged positioning and profit taking following one of BTC’s best runs.

When everyone is leveraged long, it’s not a matter of if but when a major correction will take place.
Nov 19, 2020 13 tweets 5 min read
No, This is Not Your 2017 #Bitcoin

Despite its latest surge, the total market value of $BTC still represents less than ~0.4% of global M2 money supply.

More thoughts & charts from my latest Delphi Daily below👇

delphidigital.io/reports/no-thi… 3 weeks ago, I began one of my Daily notes with the following statement.

I wrote this just as $BTC broke above $13K in the face
of rising market volatility and a 40 print on the $VIX.

Fast forward 3 weeks and $BTC is now within striking distance of a new ATH in USD...
Oct 29, 2020 15 tweets 5 min read
Is #Bitcoin Eating the World?

$BTC has leapt back into the limelight after taking a backseat to the “summer of DeFi” craze.

And I can't help but notice the landscape shifting beneath our feet.

Few thoughts from my latest #DelphiDaily 👇

h/t @RaoulGMI for the title inspiration Initially, I thought this was just another intermarket move driven by the reallocation of capital from big winners back to $BTC.

But something seems different this time around...
Oct 9, 2020 59 tweets 14 min read
0/ The world has morphed into one big macro trade.

Asset prices are increasingly driven by global policy expectations rather than underlying fundamentals.

Deflation + insolvency risk is rising.

Potential knock-on effects are too important to ignore.

Thread 👇👇 1/ There's still many “known unknowns” i.e. risks we know about but don't know if/when they’ll materialize.

Powell & Co. could send markets flying on a whim. Trump could send markets flailing with one tweet.

But 1 thing is certain: our reality has changed & the risks are real.