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Macro to Crypto 3/3

3/3 Dominance, Liq Maps and ETFs

BTC Dominance Chart

The sideways movement of dominance has been within a range for 154 days, starting from October 23, 2023, until today, testing the top once again after three consecutive weeks rejecting a decline in the weekly trend line (in blue).

What can we abstract from this? We see that dominance last rose with the expectation and subsequently with the launch of ETFs, which had their largest inflows starting from February, coinciding with the closing of the Chinese New Year.

And practically? In practice, a retreat or a sequence of increases in BTC price with gaining dominance will positively indicate the market's view. As for now, we're in an already point.

We expect a breakout of this range and primarily of the zone at 57.21% for the effective start of the new bull run.

Liquidation maps and order books on exchanges

we have liquidations that could push the price up to $65,000 once again. In the order book, there is a zone of strong sales between $74,000 and $91,000.

And what about the ETFs?

Last week closed with a negative $887.6 billion, resulting from accumulated sales of $2 billion, mostly by Grayscale, consistently impacting on-chain indicators, indicating similarities with January 2021, post-breakout of $20,000 per unit.

On Monday, March 25, we had the second lowest inflow from Grayscale, with only $35 million inflow and a nearly negligible result, indicating momentary caution in the institutional field.

Despite the decrease, the funds continue, with the exception of Grayscale, accumulating bitcoins totaling 820,000 BTC according to on-chain data. This indicates resilience and confidence that the new value base is unlikely to be established below the post-ETF average. 📊📉📈 Show Less

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