Morning, Coinheads and welcome to a short working week in this part of the world, with ANZAC Day tomorrow. Meanwhile, perhaps there are a few more going short on Bitcoin just at the moment.

The OG crypto has managed to stem its bleed into the weekend and is holding onto the mid-$27k level as we type. That said, there doesn’t appear to be oodles of confidence floating about from bullish types that it won’t head further south in the short term.

That’s reflected somewhat by a bit of a dip in market sentiment over the past few days, if the Crypto Fear & Greed Index is anything to seriously go by.



Top 10 overview

With the overall crypto market cap at US$1.21 trillion, down about 1% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

It’s not exactly the most inspiring-looking top 10 chart this morning, is it. Although you probably shouldn’t give much credence to weekend crypto price movements, it was as stagnant as we’ve seen in quite some time. The seven-day price action in the chart above speaks more to the cool-off narrative.

Still, as Binance’s founder and global CEO “CZ” says…

Checking in with the odd crypto-twittering and YouTubing analyst, we’ll try to find a half decent cross section of slightly bearish, slightly bullish opinion…

This tweet from widely followed crypto analyst Benjamin “Into the Cryptoverse” Cowen, referencing BlackRock CEO Larry Fink selling some of his stocks position last week, might make more than a few people “following the money” a little wary.

Cowen, in one of his most recent YouTube videos, put forward the idea that Bitcoin (BTC) could be in for a “summer lull”, meaning the northern hemisphere/US summer, naturally.

“I would generally argue that there is a good chance that this will be a summer lull 2.0, where we come back in and come back down to these lower levels before ultimately putting on our rally caps going into the halving year. That is my general expectation,” said Cowen, adding that he tends to believe that for the rest of this year, “we will likely see prices fall back in”.

Meanwhile, Crypto Tony told his 287k+ Twitter followers that he’s been eyeing a US$26.6k short-term BTC target…

… while Dutch trader Michaël van de Poppe also thinks the OG crypto will “test a bit lower”, however, is still seeing the potential for a continuation of the bullish trend crypto has so far seen this year.

US chart watcher Roman Trading, another we regularly clock into, has his eye on the US Dollar Index, which has been flagging lower, as well as a potential “head and shoulders” pattern for Bitcoin dominance. What’s that mean? It essentially means there’s still a chance at present, in his view, for a risk-on market for crypto in the short term.

This thesis could easily be invalidated, so we’ll have to wait and see how the week begins to pan out.


Uppers and downers

Some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on data.)

PUMPERS (11-100 market cap position)

BitGet Token (BGB), (market cap: US$526 million) +9%

Curve DAO (CRV), (market cap: US$756 million) +1%

Kaspa (KAS), (market cap: US$435 million) +1%

ApeCoin (APE), (market cap: US$1.45 billion) +1%


PUMPERS (lower caps)

Evmos (EVMOS), (market cap: US$174 million) +9%

Pepe (PEPE), (market cap: US$135 million) +7%

Lukso (LYXE), (market cap: US$218 million) +3%



Injective (INJ), (market cap: US$542 million) -9%

Arbitrum (ARB), (mc: US$1.68 billion) -8%

Zilliqa (ZIL), (mc: US$520 million) -7%

Baby Doge Coin (BABYDOGE), (mc: US$449 million) -6%

Optimism (OP), (mc: US$686 million) -4%


Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.