Welcome to the twenty sixth issue of Smart Money Insights where I track what high performing wallets are doing. Please note that none of this is Financial Advice. You are responsible for your own money!
BTC Outlook
BTC continues its uptrend close to its ATH. I think the chances of BTC retesting ATH are very high at this point so the real question is where does it go from there. The truth is nobody knows. Personally I wouldn’t turn bearish until I see a clear market structure break on a higher time frame. If you look back to the previous ATH, they both shared a similar head and shoulders pattern, with the MSBs starting the new downtrends.
ETH/BTC also feels like it wants to pop. It just needs to break through this downtrend. I think there is the catalyst. BTC is showing strength because of the ETF flows as well as the upcoming halving, but I don’t think you should count ETH out yet. ETH ETF speculation will come.
Smart Money Insights
General Overview
The altcoin market is also up by quite a bit with the BTC pump but not as much as people expected. Interestingly enough, the biggest gainers have been memecoins with WIF, SHIB, Bonk, and Pepe gaining the most traction. Apart from that, it looks like DePin, metaverse, and AI are catching a bid.
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