Author's note
In conjunction with the All Star Charts quarterly playbook, this week's report is a copy of the crypto note we'll be attaching to the playbook.
It covers the themes we're monitoring, a few trades we like taking, and what we anticipate for the asset class moving into the second quarter.
Hope you had a great long weekend.
Cheers guys.
As we move into the second quarter, we leave behind a messy period in the world of cryptocurrencies. Bitcoin ended the first quarter slightly lower while the entire asset class, measured by the total market capitalization, experienced a 9% loss. In this period, the new highs list among the alts has been ominously quiet as participation waned.
There’s been little in the way of market action in this environment. Staying on the sidelines in elevated stablecoin positions has been rewarded, while those who overtraded and bought into breakouts were punished.
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