1- Macro - S&P and the War 2- BTC - Chart and Dominance 3- On-chain and ETFs <-

Holistic View - Getting back to basics

The fear and greed index remains in greed with 65 points, although it signals a cooling off of the euphoria. The best consolidation scenario will occur with days hovering between 40 and 55 points on this index.

On-chain indicators

Also remain positive but show signs of cooling down, below is the Supply in Profit indicator (in green) showing the percentage of the market in profit. When it crosses below the 95% line, it's a sign of consolidation, typically within a bull market. 📊📉

What about the ETFs ?

The ETFs close in the negative territory due to continuous selling pressure from Grayscale, losing market share, while investors through Blackrock buy less but maintain a positive stance.

Wrapping it ALL up

In summary, the crypto market is undergoing a consolidation phase and may experience further declines over the next few weeks due to miner selling and overall market pessimism in the traditional markets, considering the maintained interest rates possibly caused by immigration flows that inhibit expected interest rate cuts.

As a result, the dollar strengthens, and both the stock market and the crypto market lose attractiveness. Nevertheless, we continue to see an imbalance in reserves at 2021 levels, with positive future impact, and ETF flows, excluding Grayscale, remain positive, indicating a natural correction. 📉💼 Show Less