Weekly Watchlist Update

A slow week overall with Bitcoin getting a bounce but not quite able to give us a convincing breakout yet. Most of our watchlists are holding strong or at the bottom of the range. I am watching this early February window very closely to see if ETH can start outperforming. If we do get that confirmation it should come no later than the end of next week. In the meantime things have slowed down on Solana as well. Being a bit late to the game there it’s tough to say what stage of the meme cycle they are in but it could be a little too late for heavy risk on since there has been quite a run already.

Historically February has been a good month for BTC with it only being red on the month two times in its history. Again, this early February window should tell us a lot about the next few months but for now BTC remains strong and still outperforming ETH. ETH does have a few catalyst coming with the highly anticipated eigen layer on February 5th plus ETF rumors starting to circulate. We will see if that gives it the juice it needs. Otherwise, I still plan to shift more focus to Solana and Base chain for the rest of the cycle. Until ETH can start showing some strength we will be in a tough spot.