DeFi Alpha Call #22 Recap

Timestamps

00:01 Market Overview

01:24 Bitcoin

02:07 USD

02:22 Week Ahead

03:53 MAKER

05:19 Moving Averages

07:13 ETH

08:20 Positioning

08:55 Volumes on Exchanges

11:16 Volatility Signals

13:08 NFTs

16:50 DeFi Coins

20:01 MATIC

21:33 Tutorials

Hello Defiers! This is a recap of our latest DeFi Alpha Call that took place on 10/11/2022 in Discord.

A very warm welcome to the 1,766 new Defiers who have joined us over the last two weeks! Join 77,517 active crypto enthusiasts by subscribing.

Market Overview

Everyone is trying to predict the Fed’s next move. In fact, I believe that the majority of investors are holding out hope that the economy will show symptoms of weakness so that the Fed will be less aggressive with rate hikes.

• This is the worst year for stock markets in at least the last 50 years.
• We’re in a phase where good news/data results in a selloff and vice versa
• Crypto continues to hold up better than equities
• Inflation numbers tomorrow and retail sales on Friday could move the markets. Today’s Fed minutes showed that the central bank intends to continue raising interest rates until inflation is tamed.

Bitcoin

• Not a lot of action.

Most of the time, when the markets are calm and trade in a tight range for a prolonged period, this is followed by range expansion. You can think of the market as building up energy for a larger move.

USD

• USD just won’t give up.
• The pattern of higher lows followed by higher highs continues. So until this is broken, it’s premature to call the top.

Technical Perspective

From a purely technical point of view, everything looks bad because all the key moving averages have been broken and the 200-day moving average is now firmly pointing down. At this point, I would say that any long trades are more tactical than long-term bets.

• If macroeconomic conditions get worse, the markets have plenty of room to fall.

One of the most widely-followed rules of technical analysis is that the 200-day moving average is the line in the sand between a bullish market and a bearish market for any asset.

👉 Technical analysis will be the focus of one of the upcoming calls. Exclusive to premium Defiers. Stay tuned for details.

Key insights

• Spot and Derivatives volumes on exchanges are up month over month.
• Surprisingly, crypto is still holding up better than stock markets.
• Following the dollar more than anything else.
• In terms of signals, I’d say it’s pretty much the same as last week.

I still think that we’re oversold on multiple timeframes and up is more likely than down from these levels, in my opinion.

NFT Roundup

Big news of the week is Yuga Labs being investigated by the U.S. Securities and Exchange Commission.

Pixelmon is back with new art and it looks far better than the original. The team handed off development to an outside party.

Clonex There has been a resurgence in activity, with about 2,600 ETH trading in the past week alone.

Art Blocks and Terraforms are seeing some volume.

DeFi Coins

• MAKER is up nearly 30% in the past month, DeFi’s best performer by far
• SUSHI is up 15%, having given up some gains after some astonishing allegations against its newly-appointed Head Chef.
• Keeping an eye on MATIC. It’s been relatively strong and there is a lot of building going on Polygon, from gaming to classic DeFi.

Tutorials

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