Golden Finance reports that Matrixport's daily icon analysis indicates that our encryption concept stock index has clearly outperformed Bitcoin over the past 18 months. However, with the recent pullback in the stock prices of leading companies like MicroStrategy, Coinbase, and Metaplanet, the index has begun to show signs of pullback. The cooling of buy orders after Circle's listing further confirms the lack of momentum in the new stock market.
The current level of institutional participation is insufficient, which may reflect seasonal weakness in the summer. Without significant support from major crypto IPOs, prices may further consolidate in the short term.
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Matrixport: Encryption concept stocks enter a consolidation phase after a strong pump for 18 months.
Golden Finance reports that Matrixport's daily icon analysis indicates that our encryption concept stock index has clearly outperformed Bitcoin over the past 18 months. However, with the recent pullback in the stock prices of leading companies like MicroStrategy, Coinbase, and Metaplanet, the index has begun to show signs of pullback. The cooling of buy orders after Circle's listing further confirms the lack of momentum in the new stock market. The current level of institutional participation is insufficient, which may reflect seasonal weakness in the summer. Without significant support from major crypto IPOs, prices may further consolidate in the short term.