Hey there! Welcome back to the weekly digest. This is a curated look at the stories that shaped the past week in crypto and Bitcoin, and the trends to keep an eye on next.
In the week gone by, the crypto market held strong and stable. Market capitalisation rose to $2.62T, while Bitcoin [BTC] saw approx. 2% weekly gain.
Bitcoin posted its best month in a year with an 11.87% return in April, slightly below its historical April average of 12.98%.
Focus now shifts to May, which has historically delivered around 8% average returns.
A recent Wall Street Journal report stated that prediction markets may be booming, but most users are losing money!
70% of Polymarket traders are in losses, while 67% of profits sit with just 0.1% of accounts. The bottom 10% of Polymarket traders have lost about $4,000 each!
Is the term “stablecoin” outdated? A recent A16z crypto op-ed noted that it is, simply because stability is now expected, and certainly not the main innovation.
With the market above $321 billion, stablecoins are now core financial infrastructure. Should they still be defined by their defining feature, when it’s a given?
Terra Classic (LUNC) was the top weekly gainer, rising over 35% and closing bullish for the fourth straight week. The rally pushed LUNC above the key $0.00008 resistance level. This has strengthened the short-term uptrend.
However, with RSI near 80, the token looks overbought. Profit-taking or a short-term pullback remains possible.
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Our team recorded a 69.23% win rate for the week. A total of 18 signals were published, and all 18 were activated during the week. Out of these, 9 trades hit TP, while 4 trades hit SL.
The signals delivered a 20.77% leveraged return and 7.35% trade return. Among successful trades, 66.66% hit TP1 and 33.33% hit TP2.
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