The Current State of Crypto: Bearish or Bullish?

A select set of data to see how REKT we are.

Honestly, I’ve been bullish since mid-2023, but confidence has started to shake. Good, it means the market is healing.

I also receive more and more DMs from crypto OGs sharing their worries on the market with ETH being the most worrisome due to its recent underperformance. Another comedy sign for a reversal.

Flashback to March and the consensus was of a typical 4-year cycle. It felt too easy. It turns out it was too easy!

But how bad is the situation? I wanted to leave the X bubble and check the data myself. So, here’s a snapshot of data points to understand where we really are to prepare us for what’s coming next.