From the desk of Louis Sykes @haumicharts
We start the week as markets look to stabilize from yet more volatility. Supply dynamics show the dust is beginning to settle from the Luna collapse, as traders absorb and process the events of the last week.
Since the writing of our last letter, Bitcoin briefly dipped below 30,000, reaching an intraday low of around 25,000.
The market is in a state of panic, with the highest losses being realized since the Covid crash.
With the LFG capitulating their Bitcoin arsenal and Bitcoin still hanging around 30,000, it’s got us asking, “was that it?”