Today I’m looking at the Nasdaq futures daily chart – a simple and short view. Nasdaq is still highly correlated with crypto (94% with Ethereum and 78% with Bitcoin from mid-June).
We are very close to an 80-day cycle low in Nasdaq and a rally should be imminent. Notice that the June low was significant, at least a 40-week cycle trough, which means the upward force of this big and relatively new cycle is still present and bullish. Get ready to reposition.
BTC has soared past US$21,000. Also, Justin Sun is looking to spend a billion dollars on DCG's assets, India's RBI head is calling for a complete ban on crypto, and more.
There were US$433 million entering digital asset products last year, down 95% and 90% from US$9.1 billion in 2021 and US$6.6 billion in 2020 respectively.
There has been little action around the two main cryptocurrencies in the past month, and Bitcoin’s dominance of the crypto market still stands at 40.15%. The question on everyone’s minds is whether the crypto market has bottomed, and how long it will take for confidence to return.
2022 has been a tale of two halves for the crypto industry. Here are the most inspiring quotes from crypto industry leaders that haven’t exactly aged well.
Web3 is still dude-centric as Coinbase, Adidas, Manchester City, and OKX perpetuate crypto bro culture
Do Kwon and Terraform Labs are facing $5.3 billion in charges from the SEC as the LUNA founder awaits extradition
36 million new WLD tokens will be unlocked through Worldcoin's institutional sales
Binance executive, Tigran Gambaryan, will remain in Nigerian custody until 17 May 2024, spending his 40th birthday behind bars
