Crypto Endeavours to Recover

Crypto is shaking in the post - ETF era. This is nothing surprising to see as the old saying that "buy the rumor; sell the news" works very well in this market. Since the approval of Bitcoin spot ETFs, the market was not able to test $48K in Bitcoin to energize the altcoins.

Of course there is no rule to form new higher highs every month, the reasons that surpass the price of Bitcoin, and altcoins, are majorly related to global issues such as stable interest rates by the FED and global tension. However, the lower amount of BTC sold by GBTC future ETFs might lessen the sell pressure in time.

The market has been pretty volatile lately. First of all, the hype on Solana was triggered once again with the airdrop of JUP and the new wallets on Solana has tested another all time high in January. Obviously, Solana will be one of the Layer 1 projects that we will about in the bull run.

The good news is not limited to the ecosystem of Solana. Celsius Network, which brought bear market to crypto with FTX, 3AC and LUNA together, is going to pay for the funds of investors who had been waiting for that. The recovery process will be good for crypto market as it is a sign that crypto purifies itself from the bad actors and the veteran investors get their funds back to secure themselves!

Surely we witness negative news as well. For instance, every bull market has a delist furry to make operations easier and smoother for the platforms to focus on new hype coins. Similarly, Hive Engine delists WAX and EOS to have more place for the more demanded coins in the market.

On the other side of mass adoption, we have " some " governments that are crypto friendly. For example, the president of El Salvador and the new prime minister of Argentina have pretty positive attitudes against crypto adoption in their countries.

As a result of the recent election, Nayib Bukele was chosen by the people with the title of Bitcoin president! According to some investors, Bitcoin gained value when the election was over. Though it is a small country, El Salvador's support is appreciated by the crypto people.

Though it is possible that the news has a mild impact on the prices, we need stronger and sustainable stories to rise the markets. For example, the interest rate cuts, quantitative easing and the halving are fundamental narratives that will carry the market to higher levels.

You might have noticed the bullish momentum in S&P and NASDAQ with new all time high levels while crypto is still under pressure for several reasons. Even though the crypto is following their trend slowly, the performance of crypto has always outperformed the stock markets. The current state of crypto might be the fear of hard landing, recession or political tension around the globe. If you have been around here, you know what to do such days 😉

In the bigger picture, the positive sentiment overrides temporary fear on the market. With Bitcoin Spot ETFs, we entered to the Champions League. The year may even end with purchases of Bitcoin ETFs by private pension funds! This may change the rules of the market 🔥

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