Stay in the Know.

• Will Bitcoin break new highs this week 🤨

• Bitcoin NFT saga continues ⁉️

• China overthrowing AI as new trend 🔥

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Will Bitcoin break new highs this week? 🤨

Bitcoin has been trending up for a while now, in fact since 13th February we have been in an almost constant uptrend from $21.4k all the way up to a high of around $25k, which is a significant climb in a short amount of time, especially with the recent economic and market conditions.

So, why was the climb so violent to the upside?

Well, sentiment has been improving, but the injection into the market, especially a SIGNIFICANT amount from China (more about that in this newsletter), and combined with the overly eager shorting, it resulted in a big move to the upside all within a 🔟 day period.

What is next for Bitcoin, and the market at large?

Considering the big climb up, a retrace was bound to happen, as seen with a drop to around $23.6k before again moving back to around the $25k point, before rejecting again that leaves us around 23.7k 😮‍💨

A move to both $26k and $23k or lower is possible, and will depend on a few factors, but considering the market movements this week, we could know the direction for next week, so be mindful how you allocate your investments 😆

An indication we are about to drop lower?

That is a possibility, with some heavy resistance around $23k, but a healthy rejection like this can also lead to further upside and we could also have the possibility of a move to $26k and above.

A rejection like this was also expected with many investors and traders taking profits riding up from the $16k lows as $25k is a big point for Bitcoin to break.

Either way, being vigilant for the short term is recommended as there will be mixed volatility with the market deciding which direction to go in 🔀

Discuss the latest trends with Lewis 🕵️ on our Discord Server 👇

Bitcoin NFT hype continues 📓 

The Bitcoin NFT hype, or by their actual name, Ordinals, do not seem to be slowing down anytime soon! So if you're interested, you may want to check them out.

Bitcoin Punks as you can see above are just one of the many collections being inscribed through the Ordinals protocol, curious to dive deeper, check out this article 👇

The most interesting part about the craze for these Ordinals is that we are seeing new participants entering the NFT scene, which when looking at the numbers, could a new spark for the NFT world be about to begin?

Source: Dune

The chart above shows the Bitcoin Taproot utilisation. In short, and for a 5 year old to understand, the Taproot upgrade helps Bitcoin work faster by putting more things together when it checks how much money people have. It also makes it harder for others to see who is paying whom by mixing up the information.

So, the information presented in the chart shows the insanely high recent usage of the taproot upgrade, and I can bet you that this is HIGHLY correlated to the Ordinals as the increase begun after that release.

If you're interested in learning more about Ordinals, check out this fascinating thread below 👇

China overthrowing AI 🤖 as new trend?

AI has started taking over the world in the last 12 months and there is nothing we can do about it... Okay, perhaps that is an exaggeration, AI has at least been much more prominent recently and that includes the crypto market.

However, we seeing a new narrative taking over that trend. That's right, CHINA!

There is a lot going on in China recently economic based, including a recent announcement that they are ready to embrace the crypto world 👀

To illustrate this, they have injected up to $92M into the markets recently, which makes a lot of sense in the market movement and Chinese based crypto tokens taking off 🚀

China are certainly busy and this could be a MASSIVE positive for the entire market. Is it too early to be celebrating? Yes, but we can definitely take the positives along the way!

There is plenty more happening in China in the economic scene, if you want to know what, just take a look at the thread below 👇

Here's an article that correlates this news with the price action we've been seeing, make sure to give it a read, and report back to us 🧑‍🏫

Weekly Market Insight 📈

Here is a quick market glance over the last 7 days, including top gainers and losers, trending movements, and how the overall crypto market cap is looking 👀

This chart represents the total market cap for crypto in the last 7 days. We have a high of $1.113T and a low of $1.059T, which shows a $54B difference. The positives are that we are still above the trillion dollar mark, but the rest of the week could prove interesting.

Now let's take a look at the total market cap for crypto excluding Bitcoin for the last 7 days. We have a high of $652B and a low of $614B, so a $38B difference over the week. This highlights the Bitcoin dominance significance.

These charts may look similar, make sure to spot the $ difference in value on the Y-axis 🙃

The image below shows the top 10 gainers within the top 100. Conflux ($CFX) with a HUGE 179% increase in the last 7 days is by far the most gained and deservedly sitting at the top in spot #80 in market cap.

The image below shows the Top 10 losers within the top 100. $MINA tops the table here with a 19.73% loss in the last 7 days, with $IMX in close second with a loss of 19.09%. Both of these still sitting in #63 and #67 respectively.

And finally, to end the quick market insight, we have the top 10 trending crypto tokens over the last 7 days.

As you may see in the image above, we have $FLOKI topping the table, which isn't a surprise considering their listing on tier 1 exchange KuCoin. We can also see Conflux ($CFX) in the top trending too, who are also the top gainer for the last 7 days too, a rather positive week for that token!

Looking to explore any of these tokens and more, you're in good hands 🙏

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Written by Lewis 🕵️

Authors of All Things Flooz newsletter own cryptocurrencies and stocks.

Stay sharp 🧐

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.