Introduction

There have been quite a few “bottom callers” on Crypto Twitter today anticipating an imminent reversal of the crypto markets. Will they be right, or will the macro-induced downtrend continue? Let’s look at some promising and some potential warning signs.

Market Outlook

• Should you have been buying the dip yesterday and today in anticipation of a bullish reversal, or is it still time to be cautious? Well, that depends a lot on your risk appetite and whether you have been taking profits when the market was still hot. To be clear, the risk of making big moves now is still considerably high.

IncomeSharks @IncomeSharks

When you actually take profits you get excited about dips

9:44 PM ∙ Dec 13, 2021

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967Likes68Retweets

• There are several indicators and theories, however, that suggest that some short-term relief could be around the corner for Bitcoin and Co.

Will Clemente @WClementeIII

From an on-chain perspective, here's the key difference between now and May: In May: Previously strong hands became weak hands Now: Strong hands buying from weak hands

12:28 AM ∙ Dec 14, 2021

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3,512Likes627Retweets

Will Clemente @WClementeIII

Think FOMC has a good chance to be a "sell the rumor, buy the news" event. Pair that with illiquid supply back at yearly highs and some large Bitfinex bids coming in. Just waiting for $53K to start bidding. Happy to miss some of the move and essentially pay for confirmation.

4:54 AM ∙ Dec 14, 2021

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1,554Likes127Retweets

TXMC @TXMCtrades

Fed likely to announce faster tapering at FOMC due to the latest 6.8% CPI print, but I suspect there will be no raising of rates. My gut says this is already priced into #BTC + top buyers have been capitulating for weeks. We'll see. Not a climate for taking big action.

1:13 PM ∙ Dec 14, 2021

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96Likes5Retweets

Byzantine General @ByzGeneral

Some signs of aggressive shorting now. Will they get away with it?

9:02 PM ∙ Dec 13, 2021

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• However, given the current rather hostile climate for risk assets, jumping headfirst into altcoins could be a risky undertaking, given that smart money seems to be sitting on the sidelines waiting out this uncertain period.

Alex Svanevik @ASvanevik

tfw the top 2 coins accumulated by Smart Money are stablecoins 😐

1:07 AM ∙ Dec 14, 2021

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235Likes14Retweets

Pentoshi @Pentosh1

When the next bounces come. People will say bears are fucked. But what if bounces are just shorts closing to sell higher? Imo that’s what been happening. They’ve been in clear control for weeks

4:39 PM ∙ Dec 13, 2021

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1,650Likes76Retweets

Nike Acquiring RTFKT

• Yesterday, the news of Nike not just buying a single NFT (like Adidas did recently) but instead a whole NFT project, RTFKT, has caused quite a stir in the crypto community.

Zaptio RTFKT @Zaptio

WE GOT ACQUIRED BY @Nike to fuel the digital future! 🚀 Feels like a dream, we started RTFKT inspired by NIKE 2 year ago. Today we merge forces to take the Metaverse to a new frontier ⚔️

9:15 PM ∙ Dec 13, 2021

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4,964Likes680Retweets

Farokh.ethᵍᵐ @farokh

Adidas: *buys Ape* Nike: “hold my beer” *buys RTFKT*

9:32 PM ∙ Dec 13, 2021

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4,737Likes802Retweets

medved @mattmedved

Nike acquires @RTFKTstudios. Probably nothing. Imagine ignoring web3.

9:27 PM ∙ Dec 13, 2021

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tunks.eth 🌈 @TunksETH

Visa bought a CryptoPunk. Adidas bought a Bored Ape. Nike acquired RTFKT. The common denominator? Ethereum. Not financial advice, just an observation 🙂

3:01 AM ∙ Dec 14, 2021

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2,607Likes412Retweets

Loopify 🧙‍♂️ @Loopifyyy

NIKE ACQUIRED RTFKT THE NFT SPACE IS GOING TO GO F*CKING MAINSTREAM THIS NEWS IS SO BULLISH

10:00 PM ∙ Dec 13, 2021

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1,325Likes174Retweets

Loopify 🧙‍♂️ @Loopifyyy

okay now inner thought: is this really bullish?

10:05 PM ∙ Dec 13, 2021

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• While the initial reactions to Nike’s NFT acquisition have been mostly positive and interpreted as a major step forward for the overall NFT movement, the news also provoked some critical voices:

0xAllen @RealAllenHena

Nike buys RTFKT Studios. This is great news for the NFT space. How do holders of RTFKT tokens capture direct value from this? Is the hype supposed to fuel value capture all by itself?

10:16 PM ∙ Dec 13, 2021

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129Likes9Retweets

ricefarmer.eth 🍚 @RiceFarmerNFT

So we’re celebrating @RTFKTstudios selling itself to Nike… Imagine if @BoredApeYC sold itself to Adidas… 🤢🤮

9:51 PM ∙ Dec 13, 2021

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877Likes63Retweets

Sergito 😜 // TheMadPups @sergitosergito

Love you all but damn y’all psychotic. Went from hating on big brands to worshipping Adidas and talking shit about Nike to saying no IP should be protected to buying copycats to now eagerly awaiting Nike metadrip. All in the course of 5 days. Let’s face it: it’s all about the 🤑

11:38 PM ∙ Dec 13, 2021

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DCinvΞstor @iamDCinvestor

there is nothing so uncomfortable for early participants as the mainstreaming of something which was once niche

1:29 PM ∙ Dec 14, 2021

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Sisyphus @0xSisyphus

if i was nike i would probably figure out why NBA topshot wasnt durable and avoid doing whatever they did

1:28 PM ∙ Dec 14, 2021

• In other bullish Web 3 news, Shopify hinted at an upcoming MetaMask integration – probably nothing…

Blockworks @Blockworks_

Shopify x Metamask x NFTs soon? Shopify CEO just shared this Metamask integration

6:10 PM ∙ Dec 9, 2021

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344Likes74Retweets

Blockworks @Blockworks_

Shopify's CEO new Twitter name + profile pic

1:15 PM ∙ Dec 14, 2021

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• To sum it up: The trend of mainstream corporations jumping onto the metaverse and NFT bandwagon has clearly accelerated lately. 2022 is undoubtedly going to be exciting!

Blockworks @Blockworks_

- Facebook rebrands itself to Meta - Disney wants to build a metaverse - Nike buys an NFT/metaverse company - Microsoft is building its own Metaverse - Adidas joins the metaverse via NFT collab - Grayscale says Metaverse is a $1T industry

2:39 PM ∙ Dec 14, 2021

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80Likes21Retweets