Hello readers,

Last Sunday, BTC notched its first weekly close at the 50-week moving average since last November. It’s an important step toward confirming the “early bull” phase of the next crypto cycle. But with BTC now trading back below that level, the “all clear” remains incomplete.

As BTC decides which direction it wants to go, we’re seeing a notable uptick in onchain activity across some of crypto’s most speculative markets, particularly in the emerging “social trading” sector.

In this week’s edition of TDR Pro, we share an update on BTC and take a deeper look at what’s happening in the trenches for clues as to what comes next.

Let’s go.

Market Structure & Current Conditions Update