Wen God Candles?

We saw a really good inflation number yesterday leading to a continued rally in traditional markets. We are up quite a bit, pushing yet another YTD high; The last time the S&P was at this level, ETH was above 4k, nearing it’s all time highs

Inflation is coming down faster than expected indicating a huge bullish narrative for markets in general.

The news of the Bitcoin ETF would have normally pushed the price of BTC to the moon, but was stifled by movement of the Silk Road Bitcoin. Mando speculates that there could be a very large seller forcing downward pressure at 31k, but not necessarily a case of skewed manipulation. Although all the news is bullish from the outside looking in, there may be some information known to insiders that could be negative for the short term and cause some of the sell-off we are seeing.

Everyone is expecting a God candle, but the thing is the god candles never come when you are expecting them. It will likely be at that unknown moment, when people are distracted by some other news.

Matic was originally a side chain, then they decided they wanted to attack Ethereum scaling from many different angles, hence the Polygon name. Recent news means they officially have a ZK EVM now along with some other approaches like an optimism rollup and more. The token itself was previously heavily used for bringing people onboard for various reasons, which meant that there was constant sell pressure from people who received these coins.

Former Celsius CEO Mashinsky has been arrested and is being sued by the FTC, SEC, DOJ and more. He was wandering loose after this whole debacle and has finally been brought to justice.

Crypto punks are holding strong, Apes down in the 30's still, Azuki has been dropping. How do you feel about the ETHER mint? drop some comments.

XRP just reached a new milestone in it's journey to not being a security: a judgement was passed but we were informed that there will be a continuation of the trial on the case.

While writing these we did in fact see some decent candles. XRP easily saw a god candle with a 30% move, BTC hit above 31k before being forced back down while ETH is also on the move.

GM!

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