Market Summary With bitcoin continuing to exist in a range this week, there’s little change to our current short-term view, and only a few changes to the week-on-week indicators. Realized price fell back below $20,000 while bitcoin continues to have a stronger correlation with gold over the last 30 days. Global M2 growth in dollar terms was positive year-over-year after months of a declining trend. Global M2 is climbing despite declining U.S. M2 data. Central bank balance sheets and U.S. Net Liquidity are still in decline, but not as drastic relative to last month. The biggest economic data print of the week was the lowest U.S. ISM PMI print since 2009 (excluding the pandemic). The U.S. economy continues to show leading signs of weakness as markets further price in recession concerns and deeper rate cuts. Various employment data series are starting to show larger signs of weakness and recession potential as well. Fund flows were relatively neutral last week at only $8.8 million versus $127.5 million the week prior. Keep an eye on how bitcoin responds to the 200-WMA at $25,569 if we’re to get a correction and retest. Higher volatility and continued U.S. dollar strength have been stagnant over the last week.
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 4/6/2023
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Market Dashboard
Market Summary
With bitcoin continuing to exist in a range this week, there’s little change to our current short-term view, and only a few changes to the week-on-week indicators. Realized price fell back below $20,000 while bitcoin continues to have a stronger correlation with gold over the last 30 days. Global M2 growth in dollar terms was positive year-over-year after months of a declining trend. Global M2 is climbing despite declining U.S. M2 data. Central bank balance sheets and U.S. Net Liquidity are still in decline, but not as drastic relative to last month. The biggest economic data print of the week was the lowest U.S. ISM PMI print since 2009 (excluding the pandemic). The U.S. economy continues to show leading signs of weakness as markets further price in recession concerns and deeper rate cuts. Various employment data series are starting to show larger signs of weakness and recession potential as well. Fund flows were relatively neutral last week at only $8.8 million versus $127.5 million the week prior. Keep an eye on how bitcoin responds to the 200-WMA at $25,569 if we’re to get a correction and retest. Higher volatility and continued U.S. dollar strength have been stagnant over the last week.
Mining Dashboard
PDF Versions
For LIVE access to the Dashboards, visit:
Market Dashboard
Mining Dashboard
Password: NP74jX!k%JTx
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.