Time to Be Vigilant, But Not Bearish

Indications of Froth

Given the violent nature of the past month’s rally, we have been vigilant for signs of a local top. It would be disingenuous to claim that some qualitative "top signals" are not flashing right now. XRP—which we noted as a possible election trade back in October—with only 1–2k daily active addresses (vs ETH's over 400k, source: Artemis), is ripping toward new highs while influencers take to TikTok to discuss their lofty price targets.

Source: Posted by @fejau_i...

Finish reading this report for free

Enter your email and we'll send the paywall-free report directly to your inbox

Articles Read: 0/2

In addition to your unlocked report, you will receive our weekly market newsletter Fundstrat Snapshot, as well as occasional updates and offers from Fundstrat Direct. You can unsubscribe at any time.

Get unlimited access to Tom Lee's Fundstrat research Subscribe
Already a member? Log in
Disclosures (show)

Events

Trending crypto assets in our research