-> Following FED update - large net -ve outflow from exchanges, proportionally and historically -> Leverage ratio at all time high (0.225) -> Open interest decreasing -> OI weighted funding rates finally moving negative -> Max pain significantly above index prices
*Overall - on chain appearance indicative of closing in on bottom, but OI still elevated
Impression: > Look for short term trigger for grind up, negative flush and then buy ins. > My targets on screen
--> ALT triggers Using BTC targets for ALT buys - proportional value % greater Look for good projects, with more developed tokenomics, more established, likely to see divergence here from underdeveloped LCGs (low cap gems) - risk off in market atm