Chart of The Day: Crypto Carnage Was Avoidable

Where Macro Meet Markets

Does your portfolio resemble the “Red Wedding” from the Game of Thrones? Just sheer Carnage?

Total Crypto Market Cap (green); Metaverse Basket (blue); Smart Contract Basket (orange); DeFi Basket (yellow); Bitcoin (purple)

• Retail flows into bitcoin have been decelerating since June ‘21 (Glassnode data).

• The rate of change in liquidity is decelerating, as po…