BTC and ETH are heading back into the range low as sellers chose violence in every session (Asia, Europe, and NA) today. Another move to the range lows is far from ideal, and increases the probability of another leg lower (which we analyzed here). Crypto sweethearts AXS and SAND had another monster day, but have retraced a decent chunk of their moves since.
Note: In Tuesday’s edition (July 13) we incorrectly charted the performance of passive Uniswap v3 LP vaults. You can find the corrected chart at the bottom of today’s post.