Author: Patrick Heusser

Market Commentary von Patrick Heusser, Crypto Finance AG Good Morning! Good Morning! Another day, another hack. The DeFi space still has a long way to go. This time a Chinese DeFi platform called Lendf.Me was successfully attacked by hackers through an ERC777 smart contract vulnerability. The really bad thing about this is that this vulnerability was well known and actually documented. See here. The hackers got away with $25 million and even had the nerve to send some money back ($126,014) with a cheeky message: “Better luck next time”. Read more about it here. For you tech people out there,…

Marktcommentary from Patrick Heusser, Crypto Finance AG Inhalt 1 Rotation Analysis 2 Altcoin Futures Basis Analysis 3 Top Ten Comparison 4 Volatility and Correlation Comparison 5 ETHBTC 4h Technical Chart Analysis 6 Market Cap Overview Glossary 1. Rotation Analysis Trend slightly negative The market was not flooded with major news last week, but BTC yet again experienced a trading range of nearly 1,000, and moved between 6,475 and 7,330 during the course of last week. Some positive news on Easter Sunday was that OPEC and its allies agreed on a historical oil production cut. The proposal they agreed upon will…

Market Commentary von Patrick Heusser, Crypto Finance AG Good Morning! The decision made by OPEC to reduce output only had a very short-term effect on the physical (or spot) oil price. The spike up to $29 in the front contract was reversed quickly, and, currently, we are trading just below $20. The crazy part in this is the futures curve. It is heavily in contango. The steepness comes close to certain crypto futures we followed in the past (see image oilfutures). As a quick comparison, the current futures curves in crypto are looking rather flattish or even in backwardation (see…

Market Commentary von Patrick Heusser, Crypto Finance AG Good Morning! We saw some action over the long Easter weekend, but not much happened in terms of the big picture. BTC$ (4h) First of all, none of our possible patterns played out. Doing a TA during a consolidation phase it is hard not to try to find “any” pattern. But sometimes, it is just a sideways move. The 7.5k resistance level is a tough nut to crack. We tried it a few times with no success, which forced some of the longs to throw in the towel. That first wave pushed…

Marktcommentary from Patrick Heusser, Crypto Finance AG Inhalt 1 Rotation Analysis 2 Altcoin Futures Basis Analysis 3 Top Ten Comparison 4 Volatility and Correlation Comparison 5 ETHBTC 4h Technical Chart Analysis 6 Market Cap Overview Glossary 1. Rotation Analysis Recovery and stabilisation The overall financial markets, including cryptocurrencies, have shown short-term stabilisation and a decent recovery. To date, it looks like the markets have absorbed the global shock. An altcoin rally was led by BSV +29% and BCH +18%. Both coins are now at levels seen just before the crisis began. BTC had a nice bull run up to the…

Market Commentary von Patrick Heusser, Crypto Finance AG Good Morning! The neverending demand for the US dollar Today, I’d like to share something, which in my opinion is a very well summarised article about the global demand for the US dollar, and the possible implications on the crypto asset ecosystem. The article tackles two questions that crypto investment professionals are currently discussing. – Is the US dollar losing its world reserve status? – Will bitcoin gain in value if the US dollar loses its status? Bridge between traditional financial system and the crypto-financial system is needed I agree with the…

Market Commentary von Patrick Heusser, Crypto Finance AG Good Morning! Another week, another TA-Tuesday. First, my call to watch gold and inflation expectation was only partially correct. Gold saw a good move higher (roughly 5% since last week), but inflation expectation was a great deal lower in the US. Bitcoin followed gold and stocks, which both moved higher on a weekly basis. Bitcoin $BTC (4h) I have been pulled back and forth between an ascending triangle and a rising wedge. In the end, it looks like we got ourselves an ascending triangle. The breakout level was 7k, which was a…