Crypto brew with Banter
When the most important Fed meeting of the year so far came to an end, the market still seemed unsure of its next move. In searching for the next catalyst, we find some on-chain data that indicates the whales might be onto something.
Just when we thought that was it, we found technical analysis that shows an altcoin season is imminent. But, wait… Just as YouTube announced NFT integration, another major company loved by degens said it is looking to integrate NFTs. What the hell is happening?
- Results of the most important Fed meeting of the year
- Why a massive altcoin season is imminent
- What are whales doing right now?
- Someone knows something about a fan favorite meme coin
- Top banks want you to buy the dip
- NFT integration is coming to another top social app
- Earnings release of the world’s most valuable company
FOMC meeting results
The Fed adopted a dovish stance for the time being, not raising interests this month. Both the traditional stock markets and crypto markets went up when the press conference started, but quickly corrected after that. The hunt for the next catalyst for the crypto market begins.
Data reveals altcoins’ next potential move!
The current market setup looks eerily similar to the 2017 market, just before it went on a parabolic altcoin season. The low volumes, specifically, are consistent with the 2017 market.
What are the crypto whales doing?
Whales’ activity has always had a huge impact on the crypto markets, whether it’s the overall market capitalization or individual crypto price action. This is why monitoring whale activities is always important to observe the start of a bull trend.
As on-chain analyst Will Clemente clearly shows, whales have finally started stacking Bitcoins again. Do they know something we don’t?
Resurrection of Shiba?
As Bitcoin took a minor tumble and most major altcoins were silent, the Internet was full of stories of someone buying millions and millions dollars worth of Shiba Inu tokens.
Shiba Inu had a crazy run last year, and was one of the highest return investments across all investments. Many coins have tried to replicate it’s insane run, but failed. Could this be the start of another run for Shiba? And does this mean that dog coins are back in the picture?
Top banks urge investors to BTFD
Key strategists and analysts from Goldman Sachs, CitiBank and J.P. Morgan recently stated that they believe it is time to buy the dips in the traditional stock market. Goldman’s Risk Appetite Indicator (GSRAII) has fallen back, showing signs that the market is ripe to buy for long-term investors.
As traditional market investor confidence returns, it will offer more stability to the markets, which could lead to a strong uptrend. Remember how the crypto markets followed when the stock markets started going down? This likely signals that a strong uptrending stock market will lead to an even stronger uptrending crypto market.
NFTs coming to Reddit
Earlier this week we heard the CEO of YouTube suggest the service could be looking into the possibilities of integrating NFTs. Now, Reddit is looking into using NFTs as profile pictures and to verify ownership. With the rise of subReddits like WSB (Wall Street Bets) gaining immense popularity last year, Reddit is one of the most popular apps for the current generation. This could be huge for the adoption of NFTs, which in turn would be very bullish news for crypto.
Apple earnings release
The eyes of the world are on the upcoming Apple earnings report today. Ever since Netflix released its lacklustre earnings report, and inadvertently crashed the entire market along with it, investors have been extra hawk-eyed on earnings releases from major companies.
The FOMC meeting was nothing short of disappointing (and confusing), and the market responded accordingly. A Bitcoin dump post-meeting has once again put the market back into the extreme fear zone, and presents many opportunities. As the week rolls on and the market settles, it may be good to develop a strategy for all scenarios, play the long game (as always). Smart investors will optimise for earning profit in other segments of the crypto markets, such as DeFi or maybe even blue chip NFTs, as discusse here.