Senior Cryptocurrency Analyst, Steno Research

Mads Eberhardt

Senior Cryptocurrency Analyst

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Crypto

Virtual currencies are decentralized, math-based digital assets in which transactions can be performed cryptographically without the need for a central issuing authority. The first specification and proof of concept of Bitcoin, the first widely used virtual currency, was published in 2009 based on a paper published pseudonymously by Satoshi Nakamoto.

<ul><li>First, the crypto market has seen substantial gains in the past week, particularly Bitcoin, which is now trading at $67,000 for the first time since mid-June, having previously traded as low as $53,500.</li><li>Please do not make the mistake of thinking that we cannot go higher in the near future.</li><li><span style="font-weight: 400;">Let us reiterate the bullish outlook we have put forward in what feels like forever.</span></li></ul>

First, the crypto market has seen substantial gains in the past week, particularly Bitcoin, which is now trading at $67,000 for the first time since mid-June, having previously traded as low as $53,500.Please do not make the mistake of thinking that we cannot go higher in the near future.Let us reiterate the bullish outlook we have put forward in what feels like forever.

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

<ul><li>My great colleague, Mads Eberhardt, is off on a well-deserved mini-summer break, accordingly handing me the keys to the weekly crypto editorial.</li><li>As Mads is probably currently stuck with the same feeling I have when I hand the iPad to my almost 80-year-old dad, I’ll stick to connecting the dots between liquidity, the recent sell-off in crypto, and the current sell-off in technology.</li><li>Do current developments square, or can we find value trades here?</li></ul>

My great colleague, Mads Eberhardt, is off on a well-deserved mini-summer break, accordingly handing me the keys to the weekly crypto editorial.As Mads is probably currently stuck with the same feeling I have when I hand the iPad to my almost 80-year-old dad, I’ll stick to connecting the dots between liquidity, the recent sell-off in crypto, and the current sell-off in technology.Do current developments square, or can we find value trades here?

Crypto Liquidity Watch: The Current Crypto Versus Tech Correlation Is a Must Watch

Crypto Research and Data, Delphi Digital

Delphi Digital

Crypto Research and Data

Institutional-Grade Crypto Research & Data

Delphi Digital seeks to produce unbiased, actionable content for our clients on critical themes affecting digital assets and distributed ledger technology. Our team is committed to providing investors and institutions with key insights through a diverse suite of products including individual project analysis, bespoke research, and tailored consulting services.

Bitcoin Pro is a powerful trading system based on artificial intelligence (AI) technologies. The robot trades bitcoin volatility by betting on BTC prices relative to other currencies.

<ul>
<li>BTC reclaims multi-month range lows, hinting at potential bullish momentum despite recent sell pressure.</li>
<li>Spot ETF inflows surge, showing resilience even as BTC faced significant market cap erosion.</li>
<li>ETH spot ETF launch set for July 23, could spark renewed market interest and opportunities.</li>
</ul>


BTC reclaims multi-month range lows, hinting at potential bullish momentum despite recent sell pressure.
Spot ETF inflows surge, showing resilience even as BTC faced significant market cap erosion.
ETH spot ETF launch set for July 23, could spark renewed market interest and opportunities.


<ul><li>The crypto market has recently diverged not only from the rapidly improving liquidity conditions in the broader economy but also from various positive crypto-specific factors such as declining exchange balances, regulatory clarity, reduced Bitcoin miners’ reserves, the historically positive post-Halving period, and the imminent launch of Ethereum spot ETFs.</li><li>This decoupling has been driven by the German government selling nearly 50,000 bitcoins over the past few weeks, most of which were sold last week, along with the start of repayments to Mt. Gox creditors.</li><li>The substantial rebound in crypto assets this weekend, as the German Bitcoin selling ended on Friday, highlights that the tumbling prices in recent weeks were merely due to the German government, Mt. Gox, and, not least, the unjustified fear of substantial selling pressure, as we argued in last week’s Crypto Crisp titled ‘Buy the Dip’.</li></ul>

The crypto market has recently diverged not only from the rapidly improving liquidity conditions in the broader economy but also from various positive crypto-specific factors such as declining exchange balances, regulatory clarity, reduced Bitcoin miners’ reserves, the historically positive post-Halving period, and the imminent launch of Ethereum spot ETFs.This decoupling has been driven by the German government selling nearly 50,000 bitcoins over the past few weeks, most of which were sold last week, along with the start of repayments to Mt. Gox creditors.The substantial rebound in crypto assets this weekend, as the German Bitcoin selling ended on Friday, highlights that the tumbling prices in recent weeks were merely due to the German government, Mt. Gox, and, not least, the unjustified fear of substantial selling pressure, as we argued in last week’s Crypto Crisp titled ‘Buy the Dip’.

<ul>
<li>Navigating a challenging macro environment with conflicting signals on Fed policy and inflation risks.</li>
<li>Global liquidity contractions impact BTC, but future easing could spark a market revival.</li>
<li>Crypto markets face headwinds, yet long-term growth potential and institutional adoption remain strong.</li>
</ul>


Navigating a challenging macro environment with conflicting signals on Fed policy and inflation risks.
Global liquidity contractions impact BTC, but future easing could spark a market revival.
Crypto markets face headwinds, yet long-term growth potential and institutional adoption remain strong.
