Crypto Update
Its crazy how fast sentiments change. Till yesterday, the entire crypto community was super bullish chasing every meme /dog coin on every chain as we predicted in Meme & Dog Szn update much earlier, to completely bearish.
Meanwhile, there's news that Coinbase will list meme coin BONK and none of the majors have broken the trend yet.
Coinbase also listed JTO on day 1 and is working closely on USDC on Solana ecosystem. The takeaway is that there will be more listings from the Sol ecosystem in the future too.
Our thesis of Solana Szn is playing out here.
As mentioned in the last update, after such a one-way up move, some pullback is normal it's much healthier we got this sentiment reset before the ETF news.
This gives markets time to consolidate and refuel for the next leg higher.
Currently, the fear in the market is what if there's an ETF rejection.
Sure it could happen. If that were to be the case there would be a knee-jerk reaction. But you gotta ask yourself how likely it is,
also If the rejection would be permanent? coz IMO the big boys who have filed for the ETF will submit the revised application and get it through eventually.
Crypto was born as an alternative to the existing financial system, and all of a sudden folks are making it look as if it cannot survive without an ETF.
ETF is just one among many catalysts. Bitcoin is up a million percent even without an ETF. There would be enough and more reason for it to go up.
The main thing to track here is macro and liquidity. Those are the primary factors that will determine how high it would go.
And both those conditions are favorable.
So how should one play it?
Firstly ignore anyone who's telling you ETF is priced in or not. Or BONK correcting after being listed on coinbase is good or bad etc.
NO ONE really knows. Everyones just guessing. They just make it up as they go.
Entire CT is a momentum-driven echo chamber with a megaphone. They will ensure you FOMO at the top and sell at the bottom.
Just focus on data.
It is a Good time to add to long-term/cycle plays / Core positions on dips as the bull cycle is in play and dips are for buying.
From a trade standpoint, there's been froth It is good time to lighten up on low conviction / weaker plays.
Coming to Model positions, no new entries, and few exits.
Model continues to be long Majors BTC, ETH, SOL
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