Good morning,
Welcome to your daily crypto clarity
WHAT YOU NEED TO KNOW
Ethereum eclipses 3,000 for the first time since April 2022.
Bitcoin order books are the most liquid since October, according to data from Kaiko.
Altcoin momentum is still not in frothy condition, with a mere 20% of our cryptocurrency universe registering overbought conditions.
FEATURED CHART
The dollar is still a significant theme to monitor in this tape; the correlations that exist between crypto markets and equities are still present. Risk markets have largely ignored this recent strength out of the greenback, but should the dollar continue creeping higher, it would place additional pressures on Bitcoin and crypto assets.
WHAT TO LOOK OUT FOR
We’re monitoring whether this recent momentum in ETHBTC can continue, which would be a sign that the Bitcoin leadership is coming to an end,
Equity markets have entered into a seasonally weak period for the upcoming few weeks. Combined with several intermarket bearish divergences, we’re paying attention to how crypto markets respond to the action in equities.
You’re all caught up.
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