Undervalued & Under Pressure
APR 29, 2022 • 10 Min Read
DISCLOSURE: DELPHI VENTURES AND MEMBERS OF OUR TEAM HAVE INVESTED AND MAY HOLD POSITIONS IN TOKENS MENTIONED IN THIS REPORT INCLUDING, BUT NOT LIMITED TO BTC, ETH, APE. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY TOKEN. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.
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Chart of The Week – Risk On, Risk Off
Sentiment in crypto ebbs and flows like a tide rolling in and out. The last several months has been a mixed bag of “the bottom is in” to “the market has a one-way ticket to new lows”. One proxy to measure risk appetite is the ETHBTC pair, which has gone through multiple peaks and troughs over the last several months. It’s latest mini topping pattern means we’re likely to see more consolidation for ETHBTC in the short run, though the trend is gradually moving up and to the right.
Looking at this chart prompts an interesting question though. At what point will we see ETH’s price decouple from BTC? And what will it take? Can all the bullish narratives surrounding ETH like the Merge and “ultrasound money” and its transition to a defl
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