feels like to me last night's nuke was entirely caused by the big BTC/ETH swap and subsequent nuke of alts due to MM rehedging across the board (according to the smartest person i know) my expectation is that stocks + tradfi will resume higher this week as i think j-hole last week is very pivotal for risk assets as we head into rate cuts next month funnily enough this is juxtaposed with a lot of CT traders once again calling the top, for no reason other than "the chart kinda looks like 2021" as u know i dont believe in charts and i believe in fractals even less imo this will be a technical blip which will solve itself and crypto will catch a bid again with tradfi in coming days, granted it will look like an underperformance one key takeaway from this though, is that some big boys really wanna push ETH/BTC which is positive for both the ETH and altszn narratives - still feels like early days there for those that are believers as always, all i can do is chat to smart people and assess the information in front of me; although it feels like we keep getting punched in the face at every attempted rally, the fundamentals couldn't be stronger for me and that's how i've always traded/invested and it's worked for me. spot + chill + buy dips + patience
@osf_rekt wait if the smartest person you know in crypto isn't @rektmando... who is it???
@osf_rekt all here OSF
Refreshing take, thanks. Currently trying to make up my mind as to whether a macro top is close or not. There are signs of froth but there are also lots of people calling the top/shorting/hedging and for something to be the top most people must be buying. If there is no macro top soon then eth is going to 8-9k though simply from the infinite twap
@osf_rekt Mm re-hedging? Not sure about that. Who is said smartest person you know?
@osf_rekt It all makes sense. The only question is: what level of PA will make these MM rehedging irrelevant or insignificant?
@osf_rekt OSF Really makes sense. Open to following each other for more insights?
@osf_rekt Mfers will not believe it until they see the first actual rate cut. Then, higher. For now, we chop.
@osf_rekt Agreed, these dips are just noise for spot holders.
@osf_rekt Yep these dips are for buying and I'm actually so grateful getting another chance to load up on convictions plays like @moonbirds $PENGU $REKT and @AbstractChain ecosystem bets 👊
@osf_rekt Charts lie conviction and fundamentals always win long term
@osf_rekt Remember: Fundamentals couldn’t be stronger
@osf_rekt spot + chill + buy dips + patience $REKT WORLD DOMINATION !
@osf_rekt 💯💯💯💯 that btc sale caused a leveraged wipe out. Way too many people using leverage, borrowing against their crypto and using blur/nft loans. Wash out needed for leg higher
@osf_rekt $REKT WORLD DOMINATION and drink some @rektdrinks
@osf_rekt This is similar to how I keep feeling
