More Weakness in Crypto

In this week's Crypto Insight I discussed...

The latest bout of weakness in crypto markets after the broad macro sell-off triggered by the EVERGRANDE crisis.

Key supports are 42,000 on BTC and 2900 on ETH. If these levels break down then the weakness can go much deeper. FOMC may provide the catalyst to determine the next move.

On-chain data still looks marginally constructive, but the is more for longer term views.

The pop in implied vol term structure give some selling opportunities should things stabilise.

With the large September expiry this week, and the fact that we have traded down towards MAX PAIN levels on both indices, I suspect a major rally will be difficult until after Friday.

Filmed on on Tuesday 21st September 2021.


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