Sentiment begins to lean bullish, plus bullish narrative forming around debt ceiling raise. Key metrics are neutral. Some thoughts on the reason for the recent pump:
Sentiment
Tradersz | Bear 🔴
Tradermayne | from Bear to Bull 🟢
KeyboardMonkey | from Neutral to Bear 🔴
Ansem | from Bear to Bull 🟢
DonAlt | Bull 🟢
Updates
Tradersz
Still bearish. ETH is only bullish above ~2200. Otherwise ranges btw 1790 - 2020.
“$BTC - zooming out...my macro view remains unchanged till proven otherwise…”
Previous: $ETH to 1600 then 1370. Ranging until proved otherwise.
Tradermayne
Watching for pull back as dollar goes higher. Ideally we revisit grey box then break through the high line.
Telegram Group | Youtube Streams
Previous: $BTC will trade below 25.5k before June
KeyboardMonkey
Short crypto. Mostly sports betting.
Previous: Longed May 24th and closed (for a loss presumably) shortly thereafter
Ansem
Bullish. BTC weekly closed above 27.6, looking for 33k
Previous: Bearpoasting, but also offering a scenario to watch.
DonAlt
“Time to bid and pray” (based on close above BTC 27.2k)
Previous: Key level remains ~27.4k. (second player saying nuke possible)
Previous Status (unchanged)
CryptoCred
Previous: Waiting for 27.4k. Argument for up:
If one wanted to make a tentative bullish argument, it would be that the market has been retesting daily resistance (the aforementioned cluster) for weeks now but has not broken down.
DeFi Surfer
Previous: Lite bear poast.
Fooo
Previous: Is this the return of the bull?
Narrative
Spotlight: Debt ceiling
Debt ceiling raise signals “stealth” quantitative easing from the Treasury
More liquidity will be forced into risk assets - wen moon?
Updates
Degen Spartan
Hot take. Bullish on crypto price because more newbies aping into shitcoins = more exit liquidity.
Previous: Long ahead before the bull kicks in 2024-2025.
Previous Status (unchanged)
Byzantine General
Previous: LDO technicals looking good
Hsaka
Previous: “Fairly certain there’s on desk running the entire book on the AI coins right now.”
TreeofAlpha
Previous Status: Bullish. Shitting on meme coiners dumping while Tether accumulates BTC.
Arthur
Previous Status: Calling for BTC rally in latest essay.
Light
Previous Status: Potentially bullish based on bank failures.
Key Metrics
@francescoweb3 gave some inspiration to look at some actionable metrics:
Fear & Greed 🟡
0 = Buy Indicator | 100 = Sell Indicator
CBBI 🟡
Puell Multiple 🟡
Net Unrealized Profit/Loss (NUPL) 🟡
Top Alt Flows
Data courtesy of ChainEDGE
Note: notable is considered a $10k+ change in either direction in 1 day (stable coins and majors excluded).
Ethereum
Notable Inflows
SPELL with a quarter milly day, LBR with good inflows
Notable Outflows
PEPE still getting the smack
BSC
Notable Inflows
EDU with a quarter milly day
No Notable Outflows
Arbitrum
No Notable inflows
No Notable outflows
Optimism
Notable Inflows
PIKA
No Notable Outflows
Kwenta
Polygon
No Notable inflows
No Notable outflows
Avalanche
No Notable inflows
Notable outflows
Yak
Fantom
No Notable inflows
No Notable outflows
Fees
LVL continues to have good days, averaging around $150k revenue daily. Token price surging off local lows following recent hack.
Data courtesy of DeFiLlama
Previous: EDE, generated 66k in fees over 24h, ultra small mcap token.
Project Spotlight
Hasta luego, vaquero del espacio.
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