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December 14, 2021
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December 14, 2021

Is the Bottom In?

Oliver Grah
Dec 14, 2021
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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.

Twitter avatar for @IncomeSharksIncomeSharks @IncomeSharks
When you actually take profits you get excited about dips

December 13th 2021

68 Retweets967 Likes
  • There are several indicators and theories, however, that suggest that some short-term relief could be around the corner for Bitcoin and Co.

Twitter avatar for @WClementeIIIWill 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
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December 14th 2021

627 Retweets3,512 Likes
Twitter avatar for @WClementeIIIWill 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.

December 14th 2021

127 Retweets1,554 Likes
Twitter avatar for @TXMCtradesTXMC @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.

December 14th 2021

5 Retweets96 Likes
Twitter avatar for @ByzGeneralByzantine General @ByzGeneral
Some signs of aggressive shorting now. Will they get away with it?
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December 13th 2021

22 Retweets534 Likes
  • 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.

Twitter avatar for @ASvanevikAlex Svanevik @ASvanevik
tfw the top 2 coins accumulated by Smart Money are stablecoins 😐
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December 14th 2021

14 Retweets235 Likes
Twitter avatar for @Pentosh1Pentoshi @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

December 13th 2021

76 Retweets1,650 Likes

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.

Twitter avatar for @ZaptioZaptio 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 ⚔️
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December 13th 2021

680 Retweets4,964 Likes
Twitter avatar for @farokhFarokh.ethᵍᵐ @farokh
Adidas: *buys Ape* Nike: “hold my beer” *buys RTFKT*

December 13th 2021

802 Retweets4,737 Likes
Twitter avatar for @mattmedvedmedved @mattmedved
Nike acquires @RTFKTstudios. Probably nothing. Imagine ignoring web3.

December 13th 2021

73 Retweets763 Likes
Twitter avatar for @TunksETHtunks.eth 🌈 @TunksETH
Visa bought a CryptoPunk. Adidas bought a Bored Ape. Nike acquired RTFKT. The common denominator? Ethereum. Not financial advice, just an observation 🙂

December 14th 2021

412 Retweets2,607 Likes
Twitter avatar for @LoopifyyyLoopify 🧙‍♂️ @Loopifyyy
NIKE ACQUIRED RTFKT THE NFT SPACE IS GOING TO GO F*CKING MAINSTREAM THIS NEWS IS SO BULLISH

December 13th 2021

174 Retweets1,325 Likes
Twitter avatar for @LoopifyyyLoopify 🧙‍♂️ @Loopifyyy
okay now inner thought: is this really bullish?

December 13th 2021

2 Retweets149 Likes
  • 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:

Twitter avatar for @RealAllenHena0xAllen @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?

December 13th 2021

9 Retweets129 Likes
Twitter avatar for @RiceFarmerNFTricefarmer.eth 🍚 @RiceFarmerNFT
So we’re celebrating @RTFKTstudios selling itself to Nike… Imagine if @BoredApeYC sold itself to Adidas… 🤢🤮

December 13th 2021

63 Retweets877 Likes
Twitter avatar for @sergitosergitoSergito 😜 // 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 🤑

December 13th 2021

24 Retweets399 Likes
Twitter avatar for @iamDCinvestorDCinvΞstor @iamDCinvestor
there is nothing so uncomfortable for early participants as the mainstreaming of something which was once niche

December 14th 2021

6 Retweets124 Likes
Twitter avatar for @0xSisyphusSisyphus @0xSisyphus
if i was nike i would probably figure out why NBA topshot wasnt durable and avoid doing whatever they did

December 14th 2021

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

Twitter avatar for @Blockworks_Blockworks @Blockworks_
Shopify x Metamask x NFTs soon? Shopify CEO just shared this Metamask integration

December 9th 2021

74 Retweets344 Likes
Twitter avatar for @Blockworks_Blockworks @Blockworks_
Shopify's CEO new Twitter name + profile pic
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December 14th 2021

31 Retweets229 Likes
  • 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!

Twitter avatar for @Blockworks_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

December 14th 2021

21 Retweets80 Likes
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Legalmastermind
Dec 14, 2021Liked by Oliver Grah, Daton Pope

Thank you Oliver!

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