The strength coming out of crypto in recent weeks has been impressive, and for the first time in many months, we can say that the bulls are in the driving seat.
The median change for all coins above $1B in market-cap in just the last 20 days, since Bitcoin bottomed, is a whopping 53%! In this same period, nearly 100,000 Bitcoin have been withdrawn from exchanges, and many more hundreds of millions of dollars committed to short positions were liquidated as the accumulation for these digital assets has ramped up.
Even the crypto stocks are showing strength.
Long story short, the cryptocurrency landscape looks the best it has in a long while, and we're subsequently looking for more names to express this bullish thesis of ours.
First, we'll address the elephant in the room, Bitcoin. After successfully resolving higher from this critical 41,000 level, prices find themselves pushed up against their next hurdle - the 261.8% extension of the 2018 bear market.
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