Craig Cobb (aka TraderCobb) kicked off the week with a wet Sydney morning and an equally soggy market. As he put it: “Why can’t we just carry some goddamn momentum, Bitcoin and market?”
📉 Trader Cobb & Market Training via The Grow Me Co
Macro Moves
Last week’s CPI numbers came in hot, pointing toward a likely September rate cut in the U.S. The market loved it. Bitcoin trended beautifully—up, pullback, up again. But then came PPI, and in Cobb’s words, it landed “like a dog’s breakfast.” The print was so far off that it wiped out all the CPI-fueled gains.
Bitcoin and Ethereum
Bitcoin is still hovering around its daily cradle zone, but the weekend stability Cobb had hoped for never arrived. Instead, BTC slid 2% today. He’s not panicked: “Do I think this is the end of the bull market? No, I don’t… I’m not actively pursuing anything at the minute. I’m watching to see what is going on.”
Ethereum looks stronger. After topping near $4,797, Cobb is eyeing potential support at $4,100, then $4,000. But if ETH dips below that, it risks falling out of the cradle zone.
Altcoins in Focus
Cardano is one of the bright spots, holding a solid higher-low, higher-high structure. XRP, however, has broken down: “This is a market for which you can start to be actively pursuing shorts,” Cobb said, noting setups on the 8- and 12-hour timeframes. Tron’s trend is still stellar, LINK ripped 13% yesterday, and AVAX remains messy.
Bitcoin Dominance
Despite the broader volatility, Bitcoin dominance isn’t moving much—it’s just chopping sideways. Cobb compared the market to “a toddler—sleeping one minute, screaming the next.” For now, he’s not making big portfolio decisions until things calm down.
Total Market Cap and ‘Others’
Total market cap is $3.84 trillion, down 2.5% on the day. Cobb is watching the “Others” chart closely (everything outside the top 10). After finally breaking $300B, it now risks forming a lower high and lower low. A breakdown below $288B would confirm a downtrend: “That’s not what I want to see,” he said. “I’m happy to trade short, but I’d rather have the weekly and monthly macro trends on our side.”
Outlook
For now, Cobb is staying patient: “I’m sitting on my hands for the time being.” He’ll cover more in his free newsletter at thegromyco.com, including economic data, crypto headlines, and deeper chart dives.
My Take
Cobb’s read here is right—sometimes the best trade is no trade. The tug-of-war between CPI optimism and PPI disappointment has left markets choppy. Bitcoin holding the cradle zone is key, while ETH and ADA still show strength. LINK’s 13% pop shows alts aren’t dead, and XRP’s downtrend could attract short sellers.
Happy HODLing, Everyone.
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