Well… what a difference a month can make. January has been insane for the crypto markets.
Taking a quick peek at the monthly charts shows that this monthly candle has been incredible!
While at the time of writing the candle has not officially closed it has been a very bold statement by the market.
Gains have been rolling in across the crypto market.
And perhaps the craziest thing is that we have been seeing lots of new all time highs for coins launched in the bear market such as Aptos.
Could this just be a bear market rally? Yes. Likely. BUT, don’t let such thoughts distract you from the very real money making opportunities happening right now.
A curious factor of the bear market so far has been that retail money never truly left. Sure, a lot did, and a lot panicked. But, check out this chart. Post LUNA collapse up until now we have seen a big accumulation by retail holders of BTC. The money is always out there, the only question is does that money want to gamble on crypto now? So far the answer is yes, but for how long?
Just keep in mind that things can always change real fast.
Bitcoin miners started selling right as the rally kicked off. But, in spite of this big spike in sell pressure, the price of Bitcoin moved higher showing that demand has outstripped the fresh supply. This could indicate that fear is falling a bit as people feel more comfortable entering the market. And as we know, where BTC goes, so goes the market.
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All the best,
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