GN gents,
Hope you had an ok week so far, after a turbulent weekend following the rather bullish Jackson Hole speech by Jerome Powell.
The powers that be decided that it was wise to send crypto crashing down for a few days, after an anon whale from China started unloading a few billions worth of Bitcoin at none other than Hyperliquid, of all centralized and decentralized platforms.
He deposited $2.2B in Bitcoin via Hyper Unit:
From the horse’s mouth:
This in itself is huge validation of the exchange and associated ecosystem partners and dapps, and proof that such insanely huge transactions can be carried out anonymously, on a weekend, when TradFi sleeps.
This unfortunately for the price of Bitcoin, had some side effects, as price collapsed until almost hitting a monthly timeframe stop loss area for the monthly timeframe (retracement buy zone stop).
Price has since found a floor and is likely to rebound and trend up again, the way I see it, given macro and technical variables as well as sentiment following this drop.
$HYPE is a direct beneficiary of these developments as this brought huge attention to it and also generated a massive amount of fees that will be reutilized to buy back tokens from the open market.
The daily timeframe is now flashing a buy signal, in tune with the weekly and monthly timeframe trends that are active, I suggest buying spot allocations if you still haven’t done so.
Ethereum’s trend expiration
Ethereum might consolidate next, at least the weekly trend in ETHA 0.00%↑ has expired, and the spot trend will expire by the end of August. It could be that the ginormous quarterly timeframe trend signal implies that long term traders are in control and this won’t lead to sustained selling, so I am hodling my Ethereum.
Spot Ethereum vs USD chart is very impressive in the monthly and quarterly, and soon possibly in yearly scale:
I do suggest rotating a bit towards $HYPE, as reward to risk is more appealing in the short term and has a good catalyst for immediate upside.
Also review my fundamental report covering $HYPE:
Hyperliquid fundamental report
GN gents, I wanted to share a report I made about $HYPE fundamentals to help visualize the potential, outlook and risks from being invested and using the platform and L1 network.
Undervalued stock that caught my eye
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