BITCOIN

q6543

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got contract SUB 29k this am... up nicely into Powells testimony.
 

olympic

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Wall Street dumped Crypto assets to raise cash for the new daily margin requirements going into effect tomorrow.
 

q6543

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I drew a megaphone pattern on the daily and sniped it during the morning sell-off.

Sidenote I was looking through contracts out through September EXPIRY and there is SLIGHT positive contago rolling into forward months now. So that's a little bullish... also put/calls blocking this in to the 28k low to 42k high for September range.

Basically market is looking to establish a Big channel.. than maybe we get some clarity on the macro pattern.

Really need to see GBTC un-invert premiums... so BTC can have it's biggest buyer back.
That happens and I'll go in hard.

Good luck all!!
 

jvandy50

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Appreciate the insight, still learning and trying to soak up as much as possible. Awesome move!
 

q6543

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Once again...We get hot inflation numbers and the dollar screams higher.

Gonna need a new narrative on BTC... cause it's clearly not an inflation hedge
 

q6543

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Even worse... future contracts premiums are slipping from backwardation into contango.

I.e. market is pricing a loss off capital for holding duration.
 

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