Good evening everyone,
For this weeks update we'll be looking at what we expect the market to do and provide some insight.
Firstly the GBTC sell pressure seems to be easing which will give us a true chance to take advantage of the extra ETF inflows. This will, in our opinion, make for a positive price development. BTC between the $48-50k mark seems to be in play.
Looking at factors negatively influencing the price are miner outflows. Looks like they are keen on securing some profit leading up to the halvening. We do see that the ETF inflows for now are cancelling them out giving the market an overall positive development.
All in all the market is looking to rebound form the losses over the last two weeks. Coinbase Premium is showing positive signs signifying buy pressure form the US, whereas it was deeply negative last week.
We are going to maintain our exposure in the market and have even added a little from out BTC position to our altcoins holdings since we believe they will outperform BTC in the near future.
Looking ahead towards the halvening the game plan is to increase BTC percentage leading up to it. Historically the market had declined right after the halvening only to become profitable again a few months later. Knowing this there will be a good opportunity to buy back some altcoins at a discount and increase profitability in the medium term (6-12 months).
Also worth a watch in regards to market development is the weekly Glassnode update. You can find their latest video here https://youtu.be/_tEnrQG1Vvs?si=1wrUi2AF0WqWmjdE if you are interested in some more in depth analysis.
For now have a good evening and till next week!