The incredible performance of cryptocurrencies is the result of a combination of events that have created a perfect storm to favour inflow in the cryptospace:

1) Unprecedented amount of liquidity in the system

 

2) Easy access to leverage

3) Wave of retail accessed the market

4) Covid resque cheques spent in the market

5) Banks to provide access to crypto investments

6) Easier and cheap access to trading venues

Regardless of your view on the market the lack of fundamental/macro drivers for Cryptocurrencies is one of the best examples to underline the importance of sentimentanalysis in your investment process for retail and institutional investors.