Weekend Comeback

Chart of the Day



What a Relief. Rejoice, for Bitcoin has at last significantly broken out of weeks of uncertain, lackluster price action to stay firmly above the $45,000 mark. Over the weekend, the orange coin struck a three-month high above $48,000 — and its performance has pushed Bitcoin’s realized market cap to a new historical record above $378 billion.



Short term NUPL for Bitcoin, which measures the asset’s net profit and losses from its current circulation of supply, is back in the positives for the first time since May 15, 2021. Is this a sign of incoming sustained recovery? Sudden turnarounds in price trajectory could also be the result of a temporary relief rally or a disbelief phase after a prolonged period of losses.





Talk of the Town





Walmart Crypto Tease. Yes, another major multinational retail conglomerate is jumping on the digital assets train. Walmart has posted a job ad on LinkedIn today as it seeks out a “visionary leader” familiar in all things crypto — no doubt in serious preparation to carve out a new revolutionary business path. While no exact plans have been revealed, this is surely a small step that speaks volumes: Crypto is the new battleground for companies, and whoever comes out ahead first could be destined for triumph.