• Following on from last week the market moved further to the upside briefly trading above $23k. Whilst the market has been trading in a range this week, the majority of flows has been selling volume for the major coins.
• However it's a different story for the altcoin market this week as coins such as; APT, FTM, APE and DYDX have seen a huge increase in buying volume followed by subsequent price increases.
• $APT continues to rip, currently up 124% in the last 7 days, following the momentum from the start of the year. Whilst $APT is still fairly new, it seems investors have got excited following a recent AMA with both co-founders as they shared upcoming developments and community outreach events during the session.
• As a result there has been an increased demand for Aptos NFT’s as both floor prices and trading volume increases.
• $DYDX has seen a huge increase in price, this comes after the Decentralised derivatives exchange delayed the unlocking of more than 150m tokens, which were likely to flood the market. The turnaround in decision is extremely bullish for the token, as circulating supply remains unchanged!

• The market is showing no signs of slowing down as BTC continues to break further to the upside. Our desk has seen some interesting flows this week, however the list order remains unchanged.
• Stablecoin swaps topped the list with a value 30.08%, decreasing 2.98% compared to last. Interestingly with the market rangebound for the week, all other transactions increased.
• Crypto to Stablecoin transactions placed 2nd this week increasing 1.01%, as expected when the market is rallying week to week speculators will look to take profits and move to sidelines waiting for the next move.
• Again, Stablecoin to Crypto transactions were 3rd this week with a value of 21.59%, an increase of 1.59% compared to last. During this week to week expansions, investors will continue to add to positions in anticipation of the trend continuing!

Overall market technicals

BTC

• Following on from last week our September high target was hit Friday during the US PM session as price continued to rally before heading into the weekend.
• Taking a look at the charts, BTC has formed another range this week trading between $23,400 and $22,350. At the moment it is currently trading around the midrange undecided about its next current move.
• If the momentum continues to the upside the next potential target will be the August high coinciding with the major level of $25k, which has not been traded to since last summer.
• Alternatively, if the new weekly range fails to hold, bears would likely see price break further down to last week's range looking to target the lower end and stop out any leveraged longs!
  

• APT is off to a flying start this year, the coin was recently on Binance back in November as the rest of the market was experiencing a dry spell.
• Looking at the chart we can see that each price expansion was followed by a period of consolidation. APT set its all-time-high yesterday at $20.37 against the BUSD pair.
• Currently it is trading in another period of consolidation, very similar to the pattern that is playing out on BTC at the moment.
• With APT currently in price discovery it is difficult to determine what the next possible upwards target will be, but it is safe to assume it will follow in the overall footsteps of BTC, which can be used to gauge pivot points.

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