Chris Russi
Chris Russi 2 minutes reading from Bitcoin

Q4 Outlook: Bitcoin and Ethereum Heading Into Oct. &amp

1/ Posting some weekend Macro & BTC jots as we head into Oct & Q4 2022 which attempt to lay out potential paths for the quarter ahead (both Bullish/Bearish narratives highlighted)

First up, some bullish catalysts on the horizon:

2/ Coupled with some bullish metrics that are more specific to the BTC network:

h/t @glassnode @coinmetrics @cryptoquant_com and others for data

3/ Next up, Bearish Catalysts

(Yes, this list is long ... and still is non-exhaustive)

4/ Bearish Catalysts Cont'd.

(Did I mention this is a long list)

5/ And finally some bearish metrics that are more specific to BTC:

6/ Regardless of the outcome in Q4 a few truths remain:

• The trend is still down⬇️ • The Fed is still indicating its unlikely to pivot any time soon 🙅‍♂️ • Conditions are fragile⌛️ • And reasons for more bearishness ahead greatly exhaust those for bullishness 🐻> 🐂

7/ All this seems to suggest lower lows may be printed @ some point this Q (3,500s, 3,300s, & 3,000s being key lvls to👀)

However, I wouldn't rule out some of the🐂catalysts coming into play, producing a strong rally that catches many late🐻offsides – esp. w/ Midterms coming up

This post is based on this twitter thread.


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