Welcome to the twenty ninth 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
We have a solid retracement after BTC breached ATH. Personally not too worried about this right now. The uptrend still remains intact. I wouldn’t think about it too much unless the market structure shifts. The support levels I am keeping an eye on are $56k-60k. Consolidation is fine. Just keep a close eye on whether BTC starts forming lower highs and lower lows on the high time frame charts.
ETH/BTC is back to retesting historical support levels. I do think that there should be a small bounce from here, but we do need a convincing bounce from the lows if we want a true ETH rally.
On the ETF side, we are starting to see net outflows this week. Some profit taking is to be expected. I will keep a close eye on this.
Smart Money Insights
General Overview
Mostly a red week for alts as BTC retraces some of its big move up. Interestingly, Fantom is currently outperforming the market, possibly due to the Andre Cronje comment recently. Fantom Sonic also seems closer to launch, which promises some pretty insane improvements on transaction speeds and costs. Stacks and TON also seem to be performing pretty well. Remember to keep an eye on the projects that show strength in a downturn. These are often the projects that will outperform if we get another run up.
Summary
Data is pulled from Chainedge. I have not done proper due diligence on most of these so be careful.
BTRFLY: +$184k accumulation from three smart smart wallets over the past week. No accumulation over the past day.
ETHFI: Around +$100k accumulation from five smart wallets over the past week. $45k inflows over the past day.
FTM: +$94k accumulation from two smart wallets. Note that this is on ETH so the actual stats are likely much different.
AGIX: +$84k accumulation from three smart wallets over the past week. No accumulation over the past day.
New Projects
These are early stage projects that I am sourcing through Moni Discover. I have not done proper due diligence on most of these so be careful.
Giggle Academy: Looks like it has something to do with education. They have a waitlist you can sign up for on their site.
1intro: Looks like a LBP platform that is being launched on Solana.
AIWayfinder: Something to do with AI.
SharpeLabs: Looks like a super app and trading terminal. Apparently they have a points system.
GM AI: No clue what this is. Description says they have an incentivized testnet.