Market Musings - Will History Rhyme?

Welcome to Market Musings, a weekly publication designed to keep our readers informed about the most important and timely developments in the crypto market. We will continually improve this product, so please provide any feedback or suggestions for topics you’d like to see covered in future editions.

 

Market Structure Musings – Will History Rhyme?

As July comes to a close and BTC trading within striking distance of all time highs, crypto markets find themselves in a very constructive spot. This is a far cry from where BTC and the broader crypto markets found itself at the start of the month, with prices crashing through our multi month range into the low $50K area. The start of the month was so much different that many of CT’s favorite influencers were calling for tops in the current market regime. July was an important reminder that a lot can change in a short amount of time.

It is interesting that even with the horrific start to July, BTC is still closely tracking its historical performance for the month, up around 10%.

As we see a similar situation unfolding with ETH, with an added touch of increased volatility. This may be explained with the recent spot ETF launch, and the trading/speculation that always comes with such pivotal events.

Importantly, should BTC continue tracking its historical quarterly performance for next 2 months, it would indicate some potential consol