Weekly Crypto Recap /w NewsCrypto
Welcome back, NewsCrypto enthusiasts! It's time for another edition of the Crypto Recap.
Today we analyzed Bitcoin - why it rebounded and what's next (new ATH?).
Did you know crypto VCs are starting to turn bullish and bet big? You will find out in today's newsletter.
What's on the menu today?
1. Breaking Crypto News
2. Crypto Fear and Greed Index
3. BTC TA Analysis
4. VCs Are Bullish on Crypto Again!
5. Funniest Meme of the Week
News Recap
· BUIDL, BlackRock's tokenized treasury fund, grew and secured the pole position
· CZ sentences to 4 months in jail
· Bitcoin reached 1 billion transactions
· GBTC stopped bleeding, the first time net inflows since ETF approvals
· Crypto VC funding hits over $1 billion for second consecutive month
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Crypto Fear and Greed Index
Bitcoin TA Analysis
Bitcoin Weekly Time Frame
The weekly chart of Bitcoin looks extremely bullish!
The candle that has just been drawn is a hammer candlestick pattern which is often found at the bottom of a correction. In simple terms, it signals a trend change from bearish to bullish and frequently results in longer term appreciation of an asset.
Bitcoin Daily Time Frame
On a daily time frame, the chart looks bullish as well. After deviation below the range low $BTC rebounded quickly and came back right into 12h order block (OB) and was rejected by the 50% mark of the OB.
Most likely the next step is a bit of correction to liquidate all of the late longs and then continue the path towards range high and possibly new ATH.
VCs Are Bullish on Crypto Again!
April marked another landmark month for crypto VCs, as funding hit the $1 billion mark for the second consecutive month. Despite a slight decline from March’s $1.09 billion, the sustained investment activity signals robust confidence in the cryptocurrency sector’s potential.
Major Investment Highlights Industry Confidence
The month’s investment rounds included notable deals such as BlackRock’s $47 million investment in Securitize, a firm focused on tokenization of real-world assets. This move underscores the growing interest in bridging traditional finance with blockchain technology.
Another significant investment was the $225 million raised by Monad, dubbed a potential "Solana killer". This new layer-1 blockchain project has attracted substantial support from industry heavyweights like Paradigm and Coinbase Ventures, highlighting the ongoing interest in developing infrastructure capable of competing with established blockchain networks.
Sector-Wide Investment Trends
Blockchain infrastructure projects received the lion's share of funding, totaling $1.7 billion for the year, demonstrating the industry’s focus on building robust underlying technologies. Decentralized finance (DeFi) protocols also continued to attract significant interest, with $626 million invested in the sector.
Interestingly, decentralized autonomous organizations (DAOs) saw minimal funding, with just $3 million invested, indicating a cautious approach toward this relatively nascent area of the blockchain space.
A Strong Start to 2024
The first four months of 2024 have seen $3.67 billion invested across 604 funding rounds, positioning the year on track to surpass the $9.3 billion total raised in 2023. The consistent investment flow reflects a maturing market where investors are increasingly willing to back blockchain and cryptocurrency projects.
Looking Ahead
With more than $100 billion invested in the blockchain industry since June 2014, the sector continues to be a significant draw for venture capital. The ongoing fundraising efforts by major VC firms, such as Pantera Capital and Paradigm, who are seeking substantial sums for new cryptocurrency funds, are a testament to the sector’s dynamic growth potential.
Funniest Meme of the Week
Disclaimer: This newsletter provides educational content only and is not financial advice. It does not offer investment recommendations or encourage buying or selling assets. Please exercise caution and conduct your own research before making any financial decisions.
