Market Update - January 4, 2024

Did the US government sell its bitcoins?

Nothing moved from its main wallet or any wallets associated with that wallet. Did we get duped? Or does Uncle Sam have a secret stash or “IOU” for the 30,000 bitcoins a US court told it to sell?

Quite the mystery. One day, we’ll find out. Fortunately, 30,000 bitcoins isn’t a lot and shouldn’t have much impact on the market.

Likewise, the bullish pennant from my most recent update—bitcoin’s price went above it, then back into it, thus making it moot (as is typical of these 50/50 trading patterns).

We have bigger fish to fry! Today’s update covers these topics:

• Video

• Aunt Sally’s bidding again—what this means for ETF flows

• Look at the HODLers!

• Updates on ANT, ZIL, INJ, and altcoins

• Closing thoughts

This update is only new info because not much has changed in the metrics or technical analysis over the last few weeks. Some look a little better, some look a little worse, but not in any way that changes my analysis.

For reference, those updates:

• December 6

• December 14

• December 19

• December 27

On to today’s update!

I strongly advise you to read the summary below and watch the video update! You miss too much when you get only one of them!

To speed up the video (shorten the playing time), tap the gear button at the bottom of the video. I circled in in this screenshot.

A playback speed of 1.5 should do ok for most of you.

Subscribe to Crypto Is Easy to read the rest.