December 2023 - Market Overview - The Crypto Santa Rally...When ETF Launch, & the FED Pivot

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Before we crack into the fleshy parts of this week’s newsletter…

2024 is the biggest year in Crypto history

A quick brief -

This newsletter provides insights into the post Xmas setup and how to navigate it

• The Santa Rally in Stocks will move into Crypto

• The looming Spot BTC ETF. Don’t play chicken with the biggest demand side catalyst in history. Why the launch date changes the calculus on a “sell the news event”

• Our Price forecast. How we see the Xmas and January period playing out .

I also cover

• Ethereum. The most unloved asset could double in May

• The FED Pivot and what rate cuts mean for the Crypto market

Let’s crack in!

Is the Crypto Santa Rally about to begin?

Well, let’s have a look across major markets…

The S&P 500 Index (Top 500 US stocks) are racing toward a new all time high just before Xmas

In fact, on re-doing my chart this morning we actually saw a new high in price. Bulls need to be on guard though that this could be the perfect spot to hold the hold and create a 2023 top

The FED pivot has certainly helped. By suggesting rate cuts are on the way investors are selling dollars and putting it directly into risk markets

This is seen on the DXY chart which will have a hard time of it if CB’s around the world continue to raise rates and the US does the opposite 

To summarise we are seeing an air of exuberance and risk taking not seen since before the FED started its rate hiking cycle…

And even though Crypto has failed to correlate with stocks for 2023, we think speculative capital will find its way into Crypto based around upcoming catalysts

The biggest catalyst of them all is the US Bitcoin ETF

The question of whether we see a strong EOY rally that leads into January is largely based on when the ETF is approved…

and perhaps more importantly, when it will launch!?

I went straight to the source on this and contacted the smartest people in the room on everything ETF

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