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June Recap: Four Crucial Charts That You Need To See
Key visuals from last month's updates, quickly summarized
Mark Helfman
July 01, 2024
Every month, I post market updates, weekly rundowns, and a monthly post in addition to special reports.
That's a lot of content! “Value,” as they say.
To help you digest that information, check out some key charts below. Read and watch my market updates for analysis, discussion, and other information (and charts!) that can boost your returns.
Chart 1: 2023 Buyers are Sticking Around
On the realized cap HODL waves, the 6-12 month cohort has run flat since March.
GOOD! These people bought during the second half of last year. They sit on 2-3x returns and still haven't taken profits. That tells you all you need to know about their mindset.
We want this cohort to stay flat or grow to confirm that those people continue to stick around. The longer this continues, the more Bitcoin’s price will have to move higher or lower before we can expect selling from this group.
Chart 2: Non-US Money Pushed the Market Up
Contrary to popular belief, much of this year’s upswing came from non-US inflows and other sources of capital from non-US entities. We see this from several angles, including the US to the Rest Reserve Ratio.
Crypto has fled the US since last year, even as $12 billion entered through Wall Street’s ETFs.
This sets us up for a new burst from a US-centric round of speculative enthusiasm once US users reallocate or build new positions. Something to look out for.
(It may take a while, it may not, and when it comes, it might come quickly.)
Did you enjoy these charts so far? I'm sure you'll love the rest of them. They cover crucial insights and key takeaways you can't get anywhere else. Keep scrolling!
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