Welcome to Mid-Week Market Check!
Every Wednesday, we give our take on current crypto market conditions, provide performance updates for the DeFi20 Index, and look at token-specific charts that catch our eye.
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This week, we’re trying something new for Mid-Week Market Check!
Instead of our usual written format, we published a video to our new YouTube channel to dive into the current crypto market conditions. Make sure to share your preference on video/written content via the poll at the end of this article!
Coming off a record 20% weekly gain, the DeFi20 Index — along with the overall crypto market — has moved back down.
Since our last update, crypto is red across the board:
BTC down -8.2%.
Altcoins (OTHERS) down -9.2%
DeFi20 Index down -10%
Here’s a quick look at this week’s leaders and laggards:
At the time of writing, BTC is sitting at the crucial support level of $61K.
In today’s video, we explain what to expect from here, zooming in on previous capitulation events and the following price action.
We also examine the current state of altcoins, many of which are forming bearish patterns alongside BTC.
We give all the details in the video below!
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That’s all for this week’s Mid-Week Market Check!
We’d love to hear your thoughts on the markets and the DeFi20 Index down in the comments below, or feel free to send us a DM on X.
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