Altcoins Fail to Stir
Disclaimer: Your capital is at risk. This is not investment advice.
ByteFolio Issue 140;
ByteFolio rose by 115% in US dollars last year, which is a great result. The ByteFolio team would be far more satisfied if there was more differentiation in crypto. There are coins that fall to zero, which we are good at avoiding, and coins that keep up the trend. There are few that managed to stay in front of Bitcoin; I sincerely hope that changes in 2025. Altcoin season is overdue.
Starting the year on a dip, Bitcoin is already +5.5% in 2025. The price is back above the short-term moving average and potentially about to make a 20-day high.
Bitcoin 4-point Trend
Behind the scenes, we have seen the ETFs slow, with two consecutive weeks of outflows, albeit with periods heavily skewed by the holidays.
Bitcoin Held by ETFs
It is too early to panic about this, but if we have another week of Bitcoin ETF outflows, we should take note. Yet the money circulating around the blockchain remains strong, and this is bullish. That said, it is no longer rising, and this measure does have a lag. Still, it underpins the $100k region.
Bitcoin Network Value – April 2024 to January 2025
Breadth has flattened off yet again, something that rarely surpasses a few weeks. There are few strong trends (blue) and many average trends (tan), but at least the weak trends are not too widespread (red).
Crypto Breadth
Let’s see how this year pans out, but in the short term, we are once again increasing BTC exposure as altcoins fail to stir.
