Good morning,
Welcome to your daily crypto clarity
WHAT’S HAPPENING
Crypto assets continue their relentless bid, with Bitcoin just a stone's throw away from all-time highs. Ethereum is gone up in a straight line, and is trading right beneath a long-term zone of supply near 3,500.
KEY STORIES
Fidelity Canada Recommend 1-3% of Crypto Allocation in Portfolios - The Defiant
Eyeing Coinbase's bitcoin custody dominance, Kraken launches institutional service - The Block
Bitcoin Rides Bullish Sentiment to $59K as Ethereum Hits $3,300 - Decrypt
BlackRock’s IBIT spot bitcoin ETF hits record daily inflow of $520 million - The Block
FEATURED CHART
Bitcoin is trading right beneath the former all-time highs near 60,000. According to classic technical analysis principles, this price zone could potentially see an overwhelming amount of selling pressure beginning to counter the demand that's driven crypto assets higher in recent months.
WHAT TO LOOK OUT FOR
We're watching whether Bitcoin and Ethereum begin to consolidate their gains at rather logical levels. Further, we're paying close attention to whether the relative ratios between altcoins and Bitcoin can begin working higher. Many altcoins are still in the process of basing, and the risk vs reward seems more well defined down the cap-scale.
You’re all caught up.
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