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On average $
BTC
raised about 9% in july. Last 2 years though it barely moved.
Sideways or up from here. Not the worst perspective.
#BTC
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Sometimes we find ourselves in market situations that seem to be undefined at first glance. But there are helpful tools to get an idea. One of the most reliable indicators to measure at which state of the Bitcoin cycle we are, is the CBBI Index. It's basically an index of several selected indicators which all represent different technical and fundamental ideas about current state of the Bitcoin market. This makes CBBI comparably resilent because it doesn't focus on just one aspect at a time but many. Every single time CBBI confidence was closing in on 100, a major cycle top happened. And everytime CBBI was below 10, the market offered the best buying opportunites. Right now we are sitting at a CBBI confidence level of 77. So there is still some air.
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I'm finally back. So the bullmarket on altcoins can continue now. Especially Solana should again become one major driver in anticipation of a SOL Spot ETF in July. Approval odds are at 95% now. So floodgates to be opened up for further institutional capital. SOL Chart is already showing momentum with a clean cup & handle formation. RSI & MACD also forming bullish crossings. If resistance at ~175 USD is broken, then there is a lot of clear sky ahead.
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I have seen many failed launches in recent months. But $ZORO showed that there still is high potential for success when things are being managed the right way, meaning: enough liquidity, good social support, good marketplaces, a strong narrative and smooth execution of all distributions. Obviously there was selling pressure too, but that got absorbed quickly and created a nice floor, comfortly about 2x above launch price. Even in today's weak market $ZORO further establishes the current support level. Very healthy.
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Recently bought a decent $SEI bag. With the Giga upgrade on the horizon, SEI will harness 5 gigagas per second—fifty times faster than any mainnet today. Its parallelized EVM in Sei v2 promises a flourishing ecosystem for DeFi and gaming, already boasting over $200M in total value locked. Only Sonic is capturing TVL in higher magnitude recently. Race for Layer 1 is in. I‘m sure this will be a main narrative.
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Would you buy this? Asking for a friend. $OM 👀
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