Market Outlook

The supercycle thesis is the bold but vague idea that crypto is on the verge of mass adoption. Here's how it works and what it means.

"The data show HODLers are buyers here," one research firm noted.

"What happened is just the worst thing that could possibly happen considering their tokenomics," said Iron Finance investor Fred Schebesta.

Bitcoin holders elsewhere could suck up all the dollars in El Salvador "like a vacuum cleaner."

This was a significant increase from the 2.4% officials were predicting in March.

The trend shows how some savvy crypto traders have pivoted to salvage or maintain returns even as bitcoin's price tumbled.

The Fed's dot plot may show rate hikes before end-2023 versus the March projections that signaled none until 2024, one analyst said.

Bitcoin's weekly stochastic oscillator has turned up from oversold or below -20 levels, a positive sign for the cryptocurrency.

The amount of money leaving was significantly less than the previous, record week of $141 million.

Bitcoin option's smile shows persistent fears of deeper drop and low expectations for a quick rally.

"Musk's latest tweet will put the juice to the upside," a market observer said.

The comments provide a first benchmark for reinstating bitcoin payments at Tesla.