Crypto market secondary fund Metrics Ventures June market observation introduction
Following our May perspective, the price of Bitcoin and global risk assets further increased in May, with Bitcoin reaching a new all-time high once again. This new high is relatively unnoticed and is closely related to the fading of market risk appetite and fatigue from news trading, which also provides a foundation for further increases in the future.
Bitcoin has synchronized with global risk assets into a momentum vacuum period lacking new trading events, becoming insensitive to event stimulation and macro events, while the entire market has entered a state of waiting for the next narrative (expected to be a unified adjustment of the interest rate cut path).
The winter night of altcoins has completely entered the deep night after a round of emotional ups and downs. Trading volume and volatility have both diminished, and it is foreseeable that mid-term new funds will find it difficult to return to CEX after observing options such as SBET CIRCLE, which have deeply trapped the teachers' chips. The painful clearing of chips will emerge endlessly in numbness.
Overview and Commentary on Overall Market Trends and Market Movements
Over the past month, the market has undergone a calm process of gradually weakening momentum. After Bitcoin reached new highs, the quietness of the market, especially in the traditional crypto market, further corroborated the reality indicated by on-chain data: veteran crypto investors have sold off the Bitcoin they originally held in large quantities during the last two rounds of chip exchanges. The event momentum accumulated during the extreme market conditions in April has also been released in the price of Bitcoin, leading the entire USD market into a vacuum period lacking momentum, with volatility and trading volume rapidly converging.
For the price of Bitcoin, we believe that concerns here are premature. In fact, the entire USD asset market has grown fatigued by event stimuli and existing macro narratives. We expect that the next unified stimulus and narrative for trading will quickly form a consensus on the path of interest rate cuts. Global liquidity has been at a new high for a while, and the supportive force for asset prices will not disappear in the medium term.
This month, what may be more important is that after a rapid rise, we have seen concrete evidence of the capital flow path that has been reported since March moving from traditional CEX to Nasdaq. The price behavior and the lack of market depth that investors feel can be abstracted as a collapse in trading volume. Data from a certain competitor shows that the contract trading volume on CEX has recently dropped to 2020 levels.
When we see the sentiment around ETH rising, the best-performing assets in the entire market have also shifted to listed companies like SBET, no longer the likes of LDO and OP from a few years ago. Other altcoins, aside from being linked to listed shell companies, may have to quietly wait for years for their chips to clear, continuously praying for fate to bestow its gifts.
Finally, regarding ETH, our previously held view that ETH benefits from the dual support of regulatory easing and liquidity remains unchanged. We completed our trading bet in May, and after ETH stabilizes at the annual line and the exchange rate breaks through the current consolidation state, we expect new trading opportunities. Let us work together.
About Us
Metrics Ventures is a data and research-driven liquidity fund for the secondary market of encryption assets, led by a team of experienced crypto professionals. The team has expertise in primary market incubation and secondary market trading, and plays an active role in industry development through in-depth on-chain/off-chain data analysis. MVC collaborates with senior influencers in the crypto community to provide long-term empowerment support for projects, such as media and KOL resources, ecological collaboration resources, project strategies, economic model consulting capabilities, and more.
Welcome everyone to DM, let's share and discuss insights and ideas about the crypto market and investment.
We are hiring. If you are skilled in encryption asset investment, please contact us at Email: ops@metrics.ventures.
Our research content will be published simultaneously on Twitter and Notion. Feel free to follow us:
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Metrics Ventures Market Watch: The Long Winter Night of Altcoins and the Momentum Vacuum Period of Dollar Assets
Crypto market secondary fund Metrics Ventures June market observation introduction
Following our May perspective, the price of Bitcoin and global risk assets further increased in May, with Bitcoin reaching a new all-time high once again. This new high is relatively unnoticed and is closely related to the fading of market risk appetite and fatigue from news trading, which also provides a foundation for further increases in the future.
Bitcoin has synchronized with global risk assets into a momentum vacuum period lacking new trading events, becoming insensitive to event stimulation and macro events, while the entire market has entered a state of waiting for the next narrative (expected to be a unified adjustment of the interest rate cut path).
The winter night of altcoins has completely entered the deep night after a round of emotional ups and downs. Trading volume and volatility have both diminished, and it is foreseeable that mid-term new funds will find it difficult to return to CEX after observing options such as SBET CIRCLE, which have deeply trapped the teachers' chips. The painful clearing of chips will emerge endlessly in numbness.
Overview and Commentary on Overall Market Trends and Market Movements
Over the past month, the market has undergone a calm process of gradually weakening momentum. After Bitcoin reached new highs, the quietness of the market, especially in the traditional crypto market, further corroborated the reality indicated by on-chain data: veteran crypto investors have sold off the Bitcoin they originally held in large quantities during the last two rounds of chip exchanges. The event momentum accumulated during the extreme market conditions in April has also been released in the price of Bitcoin, leading the entire USD market into a vacuum period lacking momentum, with volatility and trading volume rapidly converging.
For the price of Bitcoin, we believe that concerns here are premature. In fact, the entire USD asset market has grown fatigued by event stimuli and existing macro narratives. We expect that the next unified stimulus and narrative for trading will quickly form a consensus on the path of interest rate cuts. Global liquidity has been at a new high for a while, and the supportive force for asset prices will not disappear in the medium term.
This month, what may be more important is that after a rapid rise, we have seen concrete evidence of the capital flow path that has been reported since March moving from traditional CEX to Nasdaq. The price behavior and the lack of market depth that investors feel can be abstracted as a collapse in trading volume. Data from a certain competitor shows that the contract trading volume on CEX has recently dropped to 2020 levels.
When we see the sentiment around ETH rising, the best-performing assets in the entire market have also shifted to listed companies like SBET, no longer the likes of LDO and OP from a few years ago. Other altcoins, aside from being linked to listed shell companies, may have to quietly wait for years for their chips to clear, continuously praying for fate to bestow its gifts.
Finally, regarding ETH, our previously held view that ETH benefits from the dual support of regulatory easing and liquidity remains unchanged. We completed our trading bet in May, and after ETH stabilizes at the annual line and the exchange rate breaks through the current consolidation state, we expect new trading opportunities. Let us work together.
About Us
Metrics Ventures is a data and research-driven liquidity fund for the secondary market of encryption assets, led by a team of experienced crypto professionals. The team has expertise in primary market incubation and secondary market trading, and plays an active role in industry development through in-depth on-chain/off-chain data analysis. MVC collaborates with senior influencers in the crypto community to provide long-term empowerment support for projects, such as media and KOL resources, ecological collaboration resources, project strategies, economic model consulting capabilities, and more.
Welcome everyone to DM, let's share and discuss insights and ideas about the crypto market and investment.
We are hiring. If you are skilled in encryption asset investment, please contact us at Email: ops@metrics.ventures.
Our research content will be published simultaneously on Twitter and Notion. Feel free to follow us:
Twitter:
Notion: