Over the last week, there’s been little change to our short-term view of a potential local top and our cautiousness on the bitcoin price at these levels. Current key areas for price are breakouts above $29,200 or below $26,500 as we’ve seen two weeks of ranging in between. After several weeks of significant negative outflows, fund inflows were positive to the tune of $127.5 million last week while the GBTC discount fell back toward 40%. S&P 500 has broken back above 4,000 even though bitcoin correlations to traditional risk assets have fallen off over the last two months. Realized price is now over $20,000 while the 200-WMA is at $25,484. Largely, macro measures of liquidity have been bullish relative to their last 30-day values as Q1 comes to a close. The market continues to bounce from concerns of systematic risk to pricing in more rate hikes in an uncertain, ping-pong fashion. So far, U.S. dollar strength is holding support while the VIX has been crushed to lows again during this latest rally.
We will send an updated password for the live dashboards every Thursday along with the Market snapshot and summary. The live dashboards are currently optimized for desktop. Viewing on mobile may not be ideal at this time.
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PRO Market & Mining Dashboards 3/30/2023
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Market Dashboard
Market Summary
Over the last week, there’s been little change to our short-term view of a potential local top and our cautiousness on the bitcoin price at these levels. Current key areas for price are breakouts above $29,200 or below $26,500 as we’ve seen two weeks of ranging in between. After several weeks of significant negative outflows, fund inflows were positive to the tune of $127.5 million last week while the GBTC discount fell back toward 40%. S&P 500 has broken back above 4,000 even though bitcoin correlations to traditional risk assets have fallen off over the last two months. Realized price is now over $20,000 while the 200-WMA is at $25,484. Largely, macro measures of liquidity have been bullish relative to their last 30-day values as Q1 comes to a close. The market continues to bounce from concerns of systematic risk to pricing in more rate hikes in an uncertain, ping-pong fashion. So far, U.S. dollar strength is holding support while the VIX has been crushed to lows again during this latest rally.
Mining Dashboard
PDF Versions
For LIVE access to the Dashboards, visit:
Market Dashboard
Mining Dashboard
Password: cNc&ozeZ9ce%
We will send an updated password for the live dashboards every Thursday along with the Market snapshot and summary. The live dashboards are currently optimized for desktop. Viewing on mobile may not be ideal at this time.
Not financial advice.