We're Still in a Bull Market

An overview of what's happening in the market across majors, altcoins, and memes. Where we are in the cycle and what's coming next.

Nattynatman

Posted on Jul 10, 2024

We’ve had a decent 8-month run in the crypto markets - Bitcoin blew past it’s previous ATH off the back of the ETF approval, alts achieved a 5-10x from their lows, and memecoins (particularly on Solana) have led many to euphoric gains.

However, what goes up must come down eventually: Bitcoin pulled back 25% from 72k → 53k in the last month, whilst Ethereum retraced its entire move on news of the Ethereum spot ETF from 4k, back down to the 3k levels. Unsurprisingly, altcoins have seen worse price action (drawdowns of 60-80%) after underperforming the majors for the most part.

If this is the top, this might just be the shortest crypto bull market ever. Unless...we're still in the midst of one.

Let’s see 👇

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Nattynatman

@nattynatman

Pluid Content. Writing on web3 happenings, mostly NFTs and gaming.