Q3 Roundup and Q4 Outlook: OK Now Pump It
Q3 was bad for most alts and choppy for most others, but market structure shifted in the final weeks, resulting in bullish momentum as we enter Q4.
Preview
TLDR
- The early weeks of Q3 saw a continued downtrend in the wider altcoin market, but the final weeks saw a high timeframe market structure shift and significant rally.
- We discuss 4 main themes and several tokens of interest as we begin Q4.
- Easing global liquidity conditions, a U.S. presidential election, and progress towards FTX repayments all serve to drive bullish market spirits in Q4. However, we stress the importance of risk management as the market must overcome major token unlocks in addition to any headwinds that may come in Q4.
- With a recent shift in market structure, we favor altcoin longs but use BTC as a barometer for market momentum. Additionally, we expect market movements induced by U.S. employment data and/or geopolitical developments.
