💌 Woo me, love me

Hey!

The weekend is so close you can taste it. First, how about an amuse-bouche by way of 1000x, the markets-focused Blockworks podcast hosted by professional traders?

This week’s episode guest-stars the ever insightful Willy Woo. 

Bon appetit!

— David Canellis

Late stage crypto-alism

Willy Woo is a veteran onchain analyst who has carved out an edge through obscure metrics.

1000x host Jonah van Bourg asked Woo for his take on the current state of the crypto market. (FYI: The podcast was recorded on Monday — a few days before the recent dip.)

“I mean if we’re zooming out, we are seeing liquidity coming back into the market. We’re seeing it as late cycle right now, just on the liquidity dynamics,” Woo said.

“Bitcoin is, out of all the global macro assets, the most sensitive to liquidity, and so a lot of our work now is to measure the liquidity within the network…It's the late stage of a bull market, so that’s when things rally the hardest.”

Woo explained that typically at this point of the cycle, the market gets “very very volatile” and when there’s even a little injection of additional liquidity, things can “run really wild.”

He said, “I don’t have too much in the way of fears of this being a rug and a cycle top just yet.”

Catch the full episode on YouTube, Spotify and Apple Podcasts.

In crypto, hype fades but sustainable ecosystems win. Learn how top protocols are building for the long haul.

Join Blockworks Research, MegaETH, Flipside Crypto and Avalanche for this upcoming Roundtable.

📅 July 31 | 12 PM EST