Bitcoin Still in Charge: Market Trends and Volatility Update

Good morning my tasty friends, I hope you’re all having a wonderful start to your weekend. 

Another week in the books. Not much to expand on since our market update email on Wednesday. For reference please see below.

“As previously discussed, we think the chop continues. Use it to your advantage, in this environment volatility = opportunity. Structurally the bullish trend is still in place across weekly and monthly timeframes. Now, the market could easily pull-back again on geo-politics or fluctuations in the macroeconomic environment, but on the margin, financial system liquidity drives asset prices, and from this perspective, liquidity is still very positive.

Lastly, for more context on price action, if we go back to Saturday’s newsletter, we had BTC’s 1-week volatility implied range at $97.5k – 109k, so BTC is trading as we might expect.

BTC volatility continues to fall, now 39% (1-year low). Sure, it can go lower, but it’s been a lot higher too, topping out near 70% earlier in the year. For context, a 106k price with a 70% vol implies a $10k weekly move vs a $5,700 implied at 106k and the current vol.”

Price has been resilient in the face of heightened geo-political risk, alongside daily momentum quickly shifting back to bullish. We remain saddled in, riding the bull.

BTC dominance is now at 66% with no clear signs of slowing down.

Outside of BTC it’s still ugly, with the exception of bitcoin cash (BCH), the only asset we track now outperforming BTC year-to-date. If the signals shift higher for other alts, we’ll let you know, and of course you’ll see the trades on the Follow page.

Until then, performance and volatility dashboards can be found below.