So, what’s the deal with crypto today?
- Oh, look! Crypto-equities are back from the dead as bitcoin clings to $92K. Strategy’s up 12%, Coinbase and MARA Holdings are up 10%, and IREN’s up 11%. Must be a day that ends in ‘y’.
- Bitcoin’s still above the Short-Term Holder Realized Price (STH RP) at $92,107. It’s like a historically bullish sign, but you know, with a side of ‘hold onto your butts’ for those temporary dips.
So, Trump says something about a crypto strategic reserve, and everyone loses their minds. Bitcoin’s back above $92,000, like it’s no big deal. Meanwhile, crypto stocks are doing the hokey pokey after their little dive.
Strategy (MSTR) is up 12% after a 50% nosedive. Coinbase (COIN) and MARA (MARA) gained 10%, and IREN (IREN) is up 11%. It’s like the market’s playing ‘Simon Says’ with our portfolios.
According to Glassnode, bitcoin’s also above that STH RP thingamajig. It’s like the magic number for the average on-chain cost for investors over the past 155 days. Historically, it’s a bullish sign, but don’t get too comfy. Temporary dips are like the market’s way of saying ‘psyche!’ before it goes up again.
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2025-03-03 14:53