It looks like $INJ is finally starting to move after almost 3 months of consolidation. It has broken and retested the triangle structure which looked bullish to us 2 posts ago, we are attaching a picture below. We have once again entered the price discovery phase. We feel that our strategy has been performing quite well, despite the fact that Injective has been moving sideways and that almost half of our strategy consists of it. This is largely due to gains in $IMX, $OP and especially $FET. $TIA remains in consolidation for the time being and will break out of it sooner or later in our opinion. In case Injective will have a sharp increase in price we will be scaling back our position and rebalancing it to other coins.
Today was also a CPI (Consumer Price Index) day in the US and even with inflation being 0.1% higher than expected, the stock market has reacted positively so far, which is a sign of a strong market and is also very positive for the crypto market at this moment.
We continue to see strong inflows from $BTC ETFs with over $500M inflows just yesterday and over $10B since the ETFs were approved. The one negative thing is that there is a divergence forming on a daily time frame on Bitcoin from a technical standpoint, which normally leads to corrections, that is why we would not be surprised to see a pullback in the coming weeks.
If you have any questions or do not understand some parts of what we have written above feel free to ask us in the comments and we will do our best to answer in an understandable way.