Had some questions on the back of this tweet about Bitcoin
Think similar can be applied
Broke new highs and overshot the psychologically important 120k to 123k
Lots of profit taking into that zone
Now digesting that supply (not to mention some sloppy execution by Galaxy of 9bn 🙄)
Think BTC moves might underperform short term as we see some rotation to ETH and other alts - alt season baby ✌️
But think we still have a move towards 150k over the next 3 months
Global liquidity and M2 is rising, global fiscal is pumping
financial repression is keeping yields in check, turbo charging the debasement
Dollar still looking weak too and a Fed being pressured to lower rates
Even talk now that Trump will hand out stimmy checks
We’re equivalently at March 2021 in our head
ETH is the proverbial beach ball under water
Still chopping this 3600-3800 range as it digests some profit takes
Inflows across ETF’s and the ETH treasury companies are massive
As said before, once 4k goes, think we move very quickly to all time highs above 4,800
5k will obviously be a magnet which we likely tag but then expect decent supply into there and more chop
Looking good fam
8.9K
64
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