Apresentador do Cozinha OnChain, onde cripto e gastronomia se encontram.
Entrevistas com grandes nomes do mercado enquanto preparamos pratos de verdade.
The silver chart may be anticipating the next big move of Bitcoin.
The breakout structure of SILVER is mapping something big for Bitcoin. It is not a price correlation. It is a market fractal + Wyckoff. Structure comes before price, Always. Silver has gone through: • Long accumulation • Spring + Test • LPS • Breakout of the Creek • Direct entry in Phase E (vertical markup) After the LPS, there was no consolidation. Only expansion. Now look at Bitcoin. ✔️ Accumulation 2022–2023 ✔️ Spring + Test ✔️ LPS confirmed ✔️ SOS done The current price is not a top.
Silver rose +14% and returned 100%. This is typical of excessively leveraged markets: the price accelerates with FOMO, liquidity disappears at the top and, upon reversal, stops and margin calls generate forced sales. It's not about silver, it's about market structure.
In Nov/2024, Bitcoin surpassed silver in market cap.
Today, silver is worth 3 times more.
Nov/2024: Bitcoin's market cap briefly surpassed that of silver — symbolic shock. Now: silver is worth 3 times more than BTC in capitalization. Silver price: significant breakouts + clear acceleration → parabolic structure, typical of a monetary asset reacting to: persistent inflation fiscal/global stress rush for hard assets 🧠 Strategic reading (the point that few make) This does not invalidate Bitcoin.
On the contrary — it shows where we are in the cycle.Silver tends to move strongly before capital migrates to more 'volatile monetary' assets.
Why is US$ 100k a dangerous level for those who are short in $BTC Above US$ 100k there are US$ 9.5B in short positions. This is not technical resistance. It's concentrated risk. What happens if the price rises? When the $BTC rises: the short's loss increases the margin decreases the broker forces the closure Closing shorts = buying $BTC at market. This pushes the price even higher. That's why we call it a short squeeze It's not euphoria. It's mathematics. The price rises → shorts break → forced buying → price accelerates.
Ethereum and Wyckoff: what the chart is really saying
Ethereum is not 'stopped'. It is in accumulation. According to the Wyckoff model, this type of structure is built in phases, and each has a clear function: 🔹 Phase A – Interrupts the downtrend 🔹 Phase B – Time + lateralization to absorb supply 🔹 Phase C – Spring: last liquidity cleanup 🔹 Phase D – Character change (LPS / SOS) 🔹 Phase E – Trend establishes What seems like boredom is, in fact, market engineering. 📉 Price moves sideways to:
📊 Analysis — BTC x Global Liquidity (Fair Value Model)
The chart shows three key things: • Green line (Fair Value) → "fair" price of BTC based on global liquidity • Orange line (BTC Price) → market price • Shaded area → acceptable statistical zone (±1 deviation)
What this says today: • The price of $BTC is below or very close to the Fair Value, even with: • Global liquidity expanding • Less restrictive monetary policy on the horizon • Structural entry of institutional capital (ETFs, custody, derivatives)
📌 In previous cycles, when $BTC was below Fair Value, it did not last long; the adjustment came through the price, not through liquidity.
👉 In other words: it is not that $BTC is weak, it is the liquidity that has not yet been fully priced in.
🧠 Simple translation
The market has not yet reflected all the liquidity available in the global system. When this happens, historically, Bitcoin catches up.
The chart compares the Fully Diluted Market Cap (FDV) of Ethereum with the total TVL of the ecosystem. Historically, this relationship acts as a thermometer for structural undervaluation. 🔍 What the red circles show In the last two times the FDV of $ETH fell below or touched the TVL: 2020 2022 👉 Both marked macro bottom zones and asymmetric buying opportunities before significant upward movements. Today, the chart shows again: 📉 Compression between FDV and TVL
The $BTC lost the 50-week Moving Average (MA50) on the weekly chart. This signals short-term weakness, not the end of the cycle. Bull markets undergo corrections — this is structural. Historically, the loss of the MA50 in bull cycles: • Indicates corrective phase • Reduces leverage • Reprices risk ❌ Does not confirm trend reversal by itself. The price is now testing the 'Make or Break' zone, with the MA50 acting as dynamic resistance. This behavior is typical of intermediate corrections before the next directional leg.
The debate is not 'has altseason died or not'.
It's relative structure.
ETH/BTC has remained in compression for ~1100 days within the same range that marked the breakout of the previous cycle. ALTS/BTC show defense of historical support after multiple years of underperformance. This characterizes a transition zone, not a defined trend. Prolonged compressions alter asymmetry. The risk is not only of continued decline, but also of violent directional movement when: • dominance of $BTC stabilizes • risk spreads begin to close • marginal flow seeks beta