In this week’s newsletter:
- Recent Crypto Gains Viewed in Short and Medium-term Perspectives
- Digital Assets Morning Call
- Bitcoin Tops $24,000 as Hopes of Softer Fed Action Fuel Crypto Relief Rally
- Grayscale: Bitcoin Could See Another 5-6 Months of Downward or Sideways Price Movement
- This Week in Crypto: The Market Finally Reverses Higher
Read our weekly round up below.
Market Updates by Robert Lynch | Head of Research and Strategy
Robert Lynch – ALT 5 Sigma | July 22, 2022
Major crypto tokens have recovered ground in the past week-plus, an important development which comes despite continued—and in some cases increasing—stresses in the global macro backdrop. We see opportunity for Bitcoin (BTC) and Ether (ETH) to build on recent gains in the short -term, but market dynamics and the macro outlook could well present more formidable headwinds to Bitcoin and Ether at higher levels.
Robert Lynch – ALT 5 Sigma | July 18-21, 2022
The Digital Assets Morning Call is a new segment by Robert Lynch, the Head of Research and Strategy at ALT 5 Sigma. This is a brief rundown of the latest developments impacting digital assets through a macro lens.
Crypto News From Around The World
CNBC | July 20, 2022
Bitcoin broke the $24,000 threshold for the first time in more than a month, as hopes of a rate hike less aggressive than feared from the Federal Reserve triggered a relief rally in cryptocurrencies.
The world’s biggest cryptocurrency surged as high as $24,047 Wednesday, up more than 8% in 24 hours and trading at levels not seen since mid-June, according to Coin Metrics data.
Bitcoin.com | July 20, 2022
Grayscale Investments has explained that there may be another 250 days of the current bearish crypto market, citing patterns in previous cycles. In addition, “Bitcoin is 222 days off the all-time high, which means we may see another 5-6 months of downward or sideways price movement,” the world’s largest digital asset manager detailed.
TipRanks | July 21, 2022
Bitcoin (BTC-USD) made a remarkable comeback over the past week, breaking past critical resistance points of previous weeks. The BTC/USD pair breached the $24,000 mark – reaching its highest level since June 13 after registering an impressive 15% gain before finally consolidating near $23,000.
Ethereum (ETH-USD), the second-largest crypto by market capitalization, experienced a spectacular winning streak recently.
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