Lark, discussed recent developments in the crypto market in his latest video. He started by highlighting positive inflation data, with June's US CPI annual inflation rising 3%, below the expected 3.1%. This news boosted the likelihood of interest rate cuts in September, which Lark sees as bullish for the markets.
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Lark then moved on to discuss Bitcoin, noting that German authorities are almost done selling their seized Bitcoin, with only less than 7,000 coins left. Despite this selling pressure, the market has absorbed it well, with Bitcoin's price remaining relatively stable.
Regarding Bitcoin ETFs, Lark pointed out their success since launching six months ago. These ETFs have become the fastest-growing ETP category of all time, purchasing twice as much Bitcoin as miners produced in new supply.
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Lark also touched on Ethereum, mentioning that he's bought more spot Ethereum in anticipation of a post-ETF approval rally. He has sell orders set at $4,800, targeting previous highs.
In terms of altcoins and meme coins, Lark cautioned against holding onto these through market cycles. He emphasized the importance of taking profits, stating that many altcoins won't survive into the next cycle or reach their previous highs.
Finally, Lark shared his personal strategy for the end of this market cycle. He plans to sell most of his altcoins, keep Bitcoin, and invest profits into stable, dividend-paying stocks and some gold. He stressed the importance of having an exit strategy and not getting too attached to any particular coin or token.
