Diversitas is an actively managed crypto strategy with a focus on Bitcoin and DeFi.
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1/7
Morning update:
Sideways action continues as Bitcoin again dropped below $28,000. Meanwhile, we got a lot of interesting news. First of all, Coinbase will start donating money to Pro-Crypto candidates in US elections👀
https://watcher.guru/news/coinbase-to-start-donating-to-pro-crypto-candidates-in-us-elections
2/7
According to Bloomberg, the stock exchange operator Nasdaq is aiming to launch the Crypto Custody service by the end of Q2. Looks like the big guys are preparing to enter the industry🤔
3/7
Looking at the on-chain data, we also observed something bullish. Yesterday, we printed the biggest $BTC outflow from the spot exchanges in a month. Over 8,000 $BTC left exchange wallets👀🔥
4/7
Meanwhile, the percentage of $BTC that has not moved in over 2 years continues to climb higher🚀
5/7
Lastly, JAN3 posted that Costa Rica is the next country starting to work on its Bitcoin strategy. Looks like more and more countries will start to adopt the Bitcoin standard🤔 $BTC
6/7
Looking at the banking sector, the chaos continues. The deposits at US banks posted the biggest decline in nearly a year as people continue to lose trust in their banking sector. As already mentioned yesterday, a big chunk of this money is being invested. A small part is likely going also into crypto🤔$BTC
7/7
Deutsche Bank was down big time while the insurance on default on Charles Schwab went vertical. We mentioned that they are rumored to have big problems 2 weeks ago and it looks like they may be the next big institution to go bally up📉
Looking at the price of Credit Default Swaps, Deutsche Bank, Charles Schwab as well as many regional banks are on a brick of collapse. Will be interesting to see how all this will play out👀
P.S. We have decided to remove our exposure in altcoins and buy more gold. It seems like a safer bet right considering the macro environment. Have a great weekend and we will be back with you on Monday🙌
1/4
Morning update:
Yesterday, Bitcoin erased all the losses printed the day before. It is now again trading just below its main resistance👀 Hopefully, we can finally break above it and pump toward the 30k price target🚀$BTC
The breakout would not surprise us as the FED continues to pump more money into the system. The Fed's balance sheet just expanded further and has now erased ⅔ of the tightening we have seen over the past 6 months. All this in just 2 weeks🤦♂️
2/4
Meanwhile, the costs of insuring against Deutsche Bank default (CDS prices) jumped up in a violent move while share price plunged as stress in the banking system keeps rising following the Fed rate hike. Apart from the FED the Swiss National Bank, as well as ECB, raised interest rates👀
More banks are about to blow up, just a matter of time⌛
3/4
Individuals all around the world are worried about the banking crisis and continue to withdraw their money from the bank. While this will cause pain in the banking sector, it will likely drive up the prices of the assets. At the moment we are seeing a big inflow into the US money market funds. Similar behavior can most likely be observed when it comes to crypto and precious metals. This shows that people do not trust their banks anymore🤔
This is fuel for our rocket🚀
