I've got skin in the game, here's my take:

- BTC mrkt is at an extreme w/ spot bid
- BTC sentiment is very high
- ALT sentiment is very low
- ALTBTC setup is one of the highest r/r I've seen
- It's difficult to sell perfect BTC tops
- It's difficult to buy perfect ALT bottoms
I've starting selling $BTC for alts over the past 7 days and will continue to.

The extreme nature of this period is why. I'm betting on:

- Extreme mrkt positioning
- General greed & fomo
- ALTs being under owned as holders capitulate for BTC
- Cyclical nature of the market
I've starting selling $BTC for alts over the past 7 days and will continue to.The extreme nature of this period is why. I'm betting on:- Extreme mrkt positioning- General greed & fomo- ALTs being under owned as holders capitulate for BTC- Cyclical nature of the market
I've starting selling $BTC for alts over the past 7 days and will continue to.The extreme nature of this period is why. I'm betting on:- Extreme mrkt positioning- General greed & fomo- ALTs being under owned as holders capitulate for BTC- Cyclical nature of the market
No need to get too fancy here. I think ETH has an ATH run in it, which is +90% from here.

Simply put, I think EIP 1559 & the imminent launch of Layer 2 will send $ETH toward $1450 b4 BTC heads to $50k.

Also ETH capitulated & appears bottomed through my buy zone.
No need to get too fancy here. I think ETH has an ATH run in it, which is +90% from here.Simply put, I think EIP 1559 & the imminent launch of Layer 2 will send $ETH toward $1450 b4 BTC heads to $50k. Also ETH capitulated & appears bottomed through my buy zone.
No need to get too fancy here. I think ETH has an ATH run in it, which is +90% from here.Simply put, I think EIP 1559 & the imminent launch of Layer 2 will send $ETH toward $1450 b4 BTC heads to $50k. Also ETH capitulated & appears bottomed through my buy zone.
Since layer 2 is very important to Ethereum, I'm also bullish $SNX which is set to have L2 go live in the new year.

I had the pleasure of experiencing it on testnet & it's a game changer.

I also understand that onchain derivatives launch after L2...I couldn't be more Bullish.
I think the run over $8 was a combination of the CB listing & investors building positions ahead of L2 & derivs.

Some speculators sold SNX for AAVE / MITH farming, so a shallow pullback makes sense as rotation.

The BTC chart is at an extreme. The r/r + catalysts are too good.
I think the run over $8 was a combination of the CB listing & investors building positions ahead of L2 & derivs.Some speculators sold SNX for AAVE / MITH farming, so a shallow pullback makes sense as rotation.The BTC chart is at an extreme. The r/r + catalysts are too good.
I think the run over $8 was a combination of the CB listing & investors building positions ahead of L2 & derivs.Some speculators sold SNX for AAVE / MITH farming, so a shallow pullback makes sense as rotation.The BTC chart is at an extreme. The r/r + catalysts are too good.
Markets are efficient at reaching extremes, aka a moment of peak liquidity.

This comes in the form of blowoffs & capitulations.

So while I'm not sure exactly how long ALT pain lasts (how extreme will it get?)

I am sure that there will be a pivot & I'm not willing to miss it.
You can follow @Matt__Kaye.
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