Crypto Winter Bleeds Into Summer - Monthly Chartbook

JUL 07, 2022 • 25 Min Read

Jason Pagoulatos + 5 others

DISCLOSURES: THE AUTHORS OF THIS REPORT MAY HOLD MATERIAL OPEN POSITIONS IN TOKENS REFERENCED IN THI

The Monthly Chartbook is a collection of interesting charts and trends we’re watching across crypto and markets. This month’s edition focuses on:

Macro Outlook – Market Bottoms & Macro Headwinds
Crypto Market Review – Market Structure & On-Chain Observations
L1s, L2s, & DeFi Analysis
NFTs & Gaming Sector Breakdown

Summer Doldrums

Q2 was an absolute bloodbath for crypto markets. BTC finds itself ~70% off of its all-time high, ETH is down 75%, and many smaller crypto assets are down 85-90%. The total crypto market cap down has dropped from $3T to $991M, a drawdown of nearly 67%.

In fact, bitcoin’s nearly 40% dec

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