$BTC pushing above $85K has definitely changed the conversation.
BTC has climbed to its highest level since January, while crypto-related stocks and tech names have also benefited from the broader risk-on move.
But I’m still not ready to call this the start of a new bull market.
A strong move can be the beginning of something bigger, but it can also turn into another fakeout. Recent gains have also been helped by a large short squeeze, which makes follow through important.
That’s why I’m keeping multiple markets on my radar. If crypto keeps running, there’s BTC and alts. If momentum fades, stocks, indices, gold, FX and commodities can offer completely different setups.
#Macro Insights# #Altcoin Season#
BTC has climbed to its highest level since January, while crypto-related stocks and tech names have also benefited from the broader risk-on move.
But I’m still not ready to call this the start of a new bull market.
A strong move can be the beginning of something bigger, but it can also turn into another fakeout. Recent gains have also been helped by a large short squeeze, which makes follow through important.
That’s why I’m keeping multiple markets on my radar. If crypto keeps running, there’s BTC and alts. If momentum fades, stocks, indices, gold, FX and commodities can offer completely different setups.
#Macro Insights# #Altcoin Season#
