06 Jun 2023

June Outlook: Momentum Mori

Now is the time to buy options with far-dated expiries and read a good book over the summer while you reinitiate your BTC accumulation.
Market Wrap Up

The blow-off top that never came

Last month I played around with the idea of the close relationship between the 2019 fractal and the current price trajectory. I stated that I would sell if we were to experience a surge towards $40k, while I, back then, remained neither a seller nor a buyer. The 2019 fractal did not play out as BTC momentum faltered in May, and we entered a choppy environment. I now expect the chop to ensue. There are relatively few catalysts ahead, and we enter a season typically affiliated with shallow volumes and activity in the crypto market. While ever so boring, the time to resume accumulation is now. If BTC follows any previous cycle playbooks, the coming year should be rather slow until we approach the halving.

Supply on its way

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