CrediBULL Crypto 

Was going to wait for more PA to develop to share this but since @Bluntz_Capital posted the chart I figured I might as well share now. Convo below screenshotted so I don't need to repeat myself- it sums up the idea here well. The low timeframe move off of 58k is the first time in this entire consolidation that we have a potentially impulsive move present. The early spike up this morning completed the first potential 5 wave move off of a local low. At the same time- it also looks complete- so would expect a pullback regardless. The depth/aggression of this pullback over the coming days will give us a lot of info to work with. As i've said for weeks now- the only reason to flip bullish within this range would be to see 1. a break above 70k or 2. an impulsive move. The invalidation for the bearish move to 49k is a break of 70k. The invalidation for the only viable bullish scenario I can see right now is a move below 58k (the low of this potential low timeframe impulse). In other words- between 58-70k both scenarios are on the table. A break above 70k confirms the bull, a break below 58k confirms the bear (move to sub 50k before reversal). The coming days will hopefully help us determine which scenario is more likely and allow us to position accordingly.

Fascinating data from @coinbase. They show the surprising inequality in fee spend on blockchains, especially low-fee ones. For example, the Solana had 125M unique active accounts in Q3, but only 170K (0.13%) accounts paid 90% of the fees. On Base and Arbitrum, it's similarly 0.02% - 0.6% of accounts who pay 90% of the fees. Takeaway: the economics/GDP of blockchains are primarily driven by whales. In the US, the top 1% pays 24% of the taxes. In blockchains, it's more like 95%.