Hey there! Welcome back to the weekly digest. This is a curated look at the stories that shaped the past week in crypto and Bitcoin, and the trends to keep an eye on next.
📊 Market Summary
In the week gone by, the crypto market held strong and stable. Market capitalisation rose to $2.62T, while Bitcoin [BTC] saw approx. 2% weekly gain.
📰 Crypto News Roundup
Bitcoin: April Snapshot
Bitcoin posted its best month in a year with an 11.87% return in April, slightly below its historical April average of 12.98%.
Focus now shifts to May, which has historically delivered around 8% average returns.
Prediction markets: Not as shiny as they seem?
A recent Wall Street Journal report stated that prediction markets may be booming, but most users are losing money!
70% of Polymarket traders are in losses, while 67% of profits sit with just 0.1% of accounts. The bottom 10% of Polymarket traders have lost about $4,000 each!
Are “stablecoins” outdated?
Is the term “stablecoin” outdated? A recent A16z crypto op-ed noted that it is, simply because stability is now expected, and certainly not the main innovation.
With the market above $321 billion, stablecoins are now core financial infrastructure. Should they still be defined by their defining feature, when it’s a given?
⭐ Coin of the Week: Terra Classic [LUNC]
Terra Classic (LUNC) was the top weekly gainer, rising over 35% and closing bullish for the fourth straight week. The rally pushed LUNC above the key $0.00008 resistance level. This has strengthened the short-term uptrend.
However, with RSI near 80, the token looks overbought. Profit-taking or a short-term pullback remains possible.
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Our team recorded a 69.23% win rate for the week. A total of 18 signals were published, and all 18 were activated during the week. Out of these, 9 trades hit TP, while 4 trades hit SL.
The signals delivered a 20.77% leveraged return and 7.35% trade return. Among successful trades, 66.66% hit TP1 and 33.33% hit TP2.
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🏊Dive deeper
🔎 Key Events to Watch
- US labor data is the main focus this week, with JOLTS, ADP employment, and the April Jobs Report lined up.
- Markets will also watch Fed commentary and earnings, with 11 Fed speaker events and around 20% of S&P 500 companies reporting results.
