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In the world of crypto, there's one overarching relative theme that governs the entire asset class.

That is, Bitcoin vs everything else.

Over the years, this simple trend has dominated the asset class for so...

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Whenever Frances calls to chat about the market, she knows she's getting a yes!

Frances Horodelski and I have been doing this for about a decade, through multiple cycles. It's always fun!

She was hosting a commodities-focused show...

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As market participants, we have to keep an open mind and remain nimble as new data comes in.

There's nothing wrong with flipping our approach as the weight of the evidence shifts. In fact, we pride ourselves on never being dogmatic and always...

Crypto

Have you ever watched the "did you see the gorilla" video?

Viewers are asked to count how many times basketball players wearing white shirts passed a ball while...

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The strength coming out of crypto in recent weeks has been impressive, and for the first time in many months, we can say that the bulls are in the driving seat.

The median change for all coins above $1B in market-cap in just the last 20 days,...

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With bulls taking control of crypto in the last few weeks, many of the crypto-related equities are showing early signs of life.

Many of these names simply hold Bitcoin on their balance sheet, while for others, the activity taking place in this...

Crypto

Why didn't I buy this coin when it was $10?

Why did I sell early?

Why didn't I buy the dip?

Why didn't I buy more?

How did I not see the top?

These are questions almost everyone who's been involved in crypto has...

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It's often said that patience pays dividends.

Of course, in the crypto world these adages don't make too much sense. So, just like how we say that "Tether's a position...

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Regardless of the market environment, we always want to be pushing our bets on secular leaders.

The most effective way of positioning ourselves with the strongest (or weakest) names is through relative strength analysis - by simply...

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Inventories on exchanges fell by a whopping 60k Bitcoin yesterday following eight days of consecutive positive closes.

This is the second greatest negative net change in exchange balances of all time, just trailing behind the -70k change in May...

Crypto

Bulls have certainly given the bears a run for their money this last week.

Bitcoin's on the verge of eight consecutive positive days...

That's impressive.

Don't just take our word for it, look out how rare events of this...

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There's a permeating myth that altcoins need to outperform Bitcoin for there to be a healthy bull market.

You'll often hear claims like "the Ethereum/Bitcoin ratio is making new lows, so the market can't go up."

A similar notion...

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It's fair to say that bulls scored some points in the last few days, with Bitcoin moving back up to the upper 30,000's.

Throughout this recent rally, it was pretty clear that there was a lot of squeeze-action going on, as over $900M in Bitcoin...

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What was once peanuts, the total market cap of this asset class achieved the $2T milestone at its peak earlier this year.

It's hard to believe, but there are literally several thousands of individual coins and tokens, and the...

Crypto

The strongest of assets will not only do well on an absolute basis, but they also tend to outperform their alternatives. In the case of Bitcoin, not only are we pressing against new absolute lows, but we're seeing lower lows relative to other non-...

Crypto

You often hear in the stock market that "Cash is King."

Of course, in the world of Crypto and DeFi, it could be said that "Tether is King".

There's a lot of big players in other asset classes, that as part of their mandate, can't sit in...

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We've made our thoughts pretty clear these last few weeks: The bias is higher for Bitcoin if it's above 30,000.

But while we're waiting for bulls to...

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We like to play devil's advocate by constantly questioning our underlying macro thesis.

One of the many ways we do this is by posing an alternative scenario from which we think is the higher likelihood outcome.

So let's run through this...

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Crypto markets are undoubtedly unique.

But one way it's recently caught our attention is that we can see flows of capital BEFORE they show up in price. These are called on-chain metrics.

The blockchain is a public ledger.

We can...

Crypto