PORTFOLIO:
My current portfolio positioning is something I’ll regularly share as we approach a more healthy crypto market:
Long term positions:
ETH
$veTHE
FBA and $FBDAO
$veCHR
$ARB
Short Term narrative trades:
THE - I have a liquid bag of Thena’s native token ahead of the ALPHA perps launch. I believe there will be a rerating in price once fee revenues increase from perps trading.
BIT - Mantle launching L2 in 2 weeks and BIT tokens will be transferrable to MNT. MNT will be the gas and governance token for the network, and BitDAO will be incubating/incentivizing a lot of new applications.
BTC - Long BTC ahead of the ETF decision.
MARKET:
The BTC ETF bullish optimism was wiped away in a single tweet when a WSJ journalist announced the SEC wasn’t satisfied with the latest filings. Although the SEC asked for clarification and the companies can refile, $176m of liquidations occurred when $BTC fell from $31k to $29k on the headline. All 6 of the ETFs have since refiled, but the tremendous amount of volatility shows how thin liquidity and nervous crypto investors are about the ETF catalyst coming out of the bear market.
The price of $BTC quickly rebounded once news was absorbed that this wasn’t a denial by the SEC and we are currently in a range between $29.5k-31k.
NEWS:
Refilings for BTC Spot ETF:
ETH/BTC Ratio Futures Launching on CME:
REGULATORY:
Binance is having a rough time in Europe:
RUGS:
Hotbit (CEX) exit scam:
POD O’ THE WEEK:
Michael Saylor calls everything except Bitcoin an unregistered security:
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None of this is financial advice