The Ambassador of Opportunity, John O’Donnell joins Merlin Rothfeld for an interesting look at the criteria that normally appears in the markets during a topping period, as well as data which occurs during a bottoming market. John also looks at some of the major headwinds for investors and markets going forward.
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Derive (DRV) edges higher extending its third consecutive day of recovery above $0.1000. The increasing volume and fees collected through Perpetuals and Options contracts suggest that Derive’s market share in crypto derivatives is growing.
Cardano (ADA) is stabilizing around $0.145 after suffering a sharp 21% decline over the previous two weeks. Derivatives metrics continue to reflect cautious market sentiment; however, fading bearish momentum suggests ADA could recover in the coming days.
Bitcoin, Ethereum and Ripple are showing early signs of stabilization after a correction of nearly 6%, 8% and 7%, respectively, over the previous week. BTC reclaims $60,000, ETH is holding firmly above the critical $1,500 support level, while XRP is also attempting to stabilize around the key $1.00 psychological level.
Bitcoin has remained under pressure this past week, losing over 5% as traders assess mixed signals from different parties involved in the Middle East conflict.
