Cryptocurrency Market Cap Downtrend to Sub $1 Trillion
Crypto has taken a beating, risk-off markets are driving speculative assets & equities down.
Current trend reflects bearish continuation, with MA6 rejected cleanly off EMA18.
Looking at long-term channel with current trend, total crypto mcap to sub $1 Trillion is possible... settling between 950B & 975B early July.
Fed will get a few rate hikes of 50 bps in, QT will see some Central Bank balance sheet reductions, driving markets to acknowledge economy is in recession.
Path ahead from July is uncertain, closely monitor Bitcoin exchange inflows along w/ NASDAQ & S&P500... market reversal will be clear if inflows drop and we see traditional markets stop bleeding out.
Current trend reflects bearish continuation, with MA6 rejected cleanly off EMA18.
Looking at long-term channel with current trend, total crypto mcap to sub $1 Trillion is possible... settling between 950B & 975B early July.
Fed will get a few rate hikes of 50 bps in, QT will see some Central Bank balance sheet reductions, driving markets to acknowledge economy is in recession.
Path ahead from July is uncertain, closely monitor Bitcoin exchange inflows along w/ NASDAQ & S&P500... market reversal will be clear if inflows drop and we see traditional markets stop bleeding out.
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