Investment Professionals

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Powered by 21Shares This Week in Crypto The state of the weakening dollar gave a glimmer of hope for a relief rally, conservatively lifting both equities and crypto. Within the cryptoverse, large caps remained steadier than previous weeks as Bitcoin was seen ranging between the $28K-$31K, meanwhile Ethereum wicked down to the yearly low major support level at $1700 only to rebound, sweep the $2100 resistance level and continue oscillating within this range. The total crypto market cap gained roughly 6% following the turbulent week that saw the collapse of the Luna token and its counterpart UST stablecoin. Now, even though the valuations of some of the market's blue chips has returned to levels not seen since late 2020, it still seems that further drawdown could be on the table. Reason being is that entities with less than 10 BTC in their portfolio managed to add the 2nd highest amount to their stack on the 20th of May, as seen below. A signal that illustrates that we may not be out of the woods yet since retail hasn't been able to aptly time local bottoms on a historical basis. Supply Held by Retail ...