DeFi Alpha: Getting Started with Coinbase’s cbBTC
gm Defiers! Here's today's alpha:
- Market analysis (Cautiously bullish)
- Dispatch from the trenches (Trump DeFi project, MakerDAO rebrand and more)
- Coinbase cbBTC guide
Market Analysis
Markets bounced strongly last week after putting in higher lows across the board, with BTC rallying as high as $61,000 before retracing slightly. Altcoins are showing nascent signs of strength, with tokens like TIA, TAO, SUI and ZRO outperforming.
Bitcoin ETFs recorded net inflows of over $400 million, recovering from the previous week’s mass exodus by institutional investors. Yesterday was another positive day with $187 million of inflows.
Overall, markets continue to lend credence to the higher lows pattern I’ve been tracking for the past few weeks. The Fed cut rates by 50 basis points earlier today, boosting investor sentiment. I’m maintaining my bullish bias as long as we continue to trade above the September 6 lows.
I took profit on my long positions over the weekend to avoid getting chopped up by pre-Fed volatility, but I rebought ZRO and ETH on this morning’s dip.
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