Crypto Pulse Check๐:
Diversitas is an actively managed strategy combining time-proven, investments like Gold, BTC, and ETH with the high-growth potential of the DeFi sector.
Crypto Pulse Check๐:
The crypto market is down as the S&P 500 has officially closed the day 2.3% lower, ending its longest streak without a 2%+ decline since 2007๐ค
The S&P 500 erased over $1 TRILLION of market cap in a trading single day๐ฑ
It is too early to make any conclusions but something to watch today. We will keep an eye on the stock market and crypto to see how all this panic unfolds!
Crypto Pulse Check๐:
Weekly Update:
1. Market Overview
Following a bullish reversal candle, we have now confirmed this momentum with a weekly candle close above $67k (close above the reversal mark). Adding to the excitement, this was accompanied by the first green dot, further affirming the bullish trend. To appreciate the significance, we can reference October 2023, when a similar setup led to an impressive rally that took $BTC from $30k to $70k ๐ Based on the current charts and setup, we anticipate a similar pattern could unfold in the coming months๐
2. ETF Flows
Last week, approximately $1.2 billion flowed into ETFs as institutions continued their buying spree๐ธ We believe that this bullish momentum and subsequent price appreciation could further accelerate their buying pressure in the coming weeks.
Secondly, according to Bernstein, the ETFs will be approved at major wirehouses and large bank platforms in Q3/Q4๐ค
Finally, the months leading up to the US election have also been historically bullish for risk-on assets like crypto. The possibility of a pro-crypto US president could further accelerate the rally and institutional adoption, as it would likely bring more clarity to the regulatory landscape of this new asset class๐