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Newsletter #52: Coming full circle
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Newsletter #52: Coming full circle

May 4, 2022
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Share this post
Newsletter #52: Coming full circle
newsletter.efrontier.io

Welcome back to Efficient Frontier’s biweekly newsletter! 

For the last few weeks fear has reigned supreme in the crypto markets along with unusually low volatility, a rare combination.

Crypto Fear&Greed Index December 2020 to April 2022. Red is fear, Green is greed. Crypto has been in fear since April 8th.  Source: LookIntoBitcoin. 

Since our last newsletter, Bitcoin has been ranging between $43,000 and $37,400, slowly trending lower as the weeks progressed, continuing its 6-month down trend.

BTC’s 30-day volatility is 2.24% at the time of writing. The previous low was in November 2020, when Bitcoin consolidated under $20,000 for several weeks. 

Bitcoin 30-day volatility. Source:BuyBitcion

Bitcoin’s daily trading volume reached a 16-month low of $4.22 billion on April 22nd. 

7-day moving average of BTC spot volume. Source:TheBlockCrypto

Liquidations and perpetual funding rates are low. Funding is alternating between slightly negative to slightly positive since April 12th. This is also the case for short/long ratio, showing traders are trying to decide the market’s direction.

Coinbase, GBTC and BTC prices since Coinbase IPO on April 14th

So what’s next? We‘re staying tuned.

To end on a positive note, the number of deals in Q1 of 2022 broke records. Q1 saw 514 deals with the average deal netting $32.3 million to founders with a record inflow of $14.66 billion into crypto companies, according to CoinTelegraph. 

36 crypto companies raised more than $100 million in Q1 of 2022, according to Arcane.

Source: CoinWarz 

Investments flowing in the mining industry are reflected in the rise in Bitcoin’s hash rate, which on Monday hit a new record of 270 ET/s! 


News & links

1. Chinese tech giant TenCent hiring for several blockchain and Web 3.0 positions 

2. Panama legalizes cryptocurrency and set a 0% tax

3. Central African Republic makes Bitcoin legal tender

4. First city to mine Bitcoin: Fort Worth, Texas

5. Fidelity allows US savers to put Bitcoin in retirement accounts 


Team news

We’re excited to share some photos of our new and permanent HQ!

Twitter avatar for @efrontier_io
Efficient Frontier @efrontier_io
🎆🎇🎆🎇🎆🎇🎆🎇🎆🎇🎆🎇 🎆 Ready to roll in our new HQ! 🎆 🎆🎇🎆🎇🎆🎇🎆🎇🎆🎇🎆🎇
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12:32 PM ∙ Apr 26, 2022

Thank you for reading, this is our last markets newsletter in this format. Stay tuned for our content reboot!

Sending our love from Tel Aviv and San Fransisco,

Efficient Frontier

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