Join Our 2,000,000+ Community

Get Ember

more posts

October 19, 2021

Crypto Market Update

Bitcoin dominance has been rising against altcoins the past couple of weeks from 41% of the crypto market on September 14th, to 47% as of October 15th. The current state of the market is familiar from the bull run of 2013, when there was a “double bubble” situation when Bitcoin rallied in Q1 & Q2, crashed during the summer, and rallied 10x higher into Q4.

Veterans of the crypto space likely have noticed altcoins tend to follow Bitcoin over longer time periods. Market price lulls, coupled with rising Bitcoin dominance is a formula for Bitcoin preparing for a big move. Interestingly enough, this is the activity we are seeing today. Typically traders sell altcoins to purchase Bitcoin, in preparation for a larger rally. They’ll then sell their Bitcoin and re-enter altcoins a number of days later to maximize their returns.


Another interesting fact is that the Bitcoin Fear Greed Index, often used as a contrarian indicator, is pointing to a moderate market sentiment. This indicates that long-term market participants are bullish, but we haven’t yet reached euphoria.

On-chain analysts Willy Woo & Will Clemente have discussed that Bitcoin is undergoing a supply shock, in that there is not enough Bitcoin on exchanges to serve demand. Reserves on exchanges have reached the lowest point since 2017. The TLDR here is that following the crash back in May, many retail investors dumped their coins on the market, and large institutional players scooped up those coins and are moving them off exchanges to cold storage.

Thank you for reading!

Don't forget to come into the app tomorrow to continue learning about crypto! 

Enjoying Ember?



Don't miss out on our latest posts

May 14, 2024

April 2024 Recap Newsletter

It's time for the April 2024 Recap Newsletter! Here are the product highlights and milestones from the past month.

April 12, 2024

1.5 MILLION Sats Up For Grabs!

To celebrate all-time highs on Bitcoin, we're giving out 1.5 MILLION Sats to the community! 🎉

April 10, 2024

March 2024 Recap Newsletter

It's time for the March 2024 Recap Newsletter! Here are the product highlights and milestones from the past month.

Download Ember