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Massively deleveraged market sees big bounce; Elon Musk & Michael Saylor making Bitcoin "greener" bodes well for ESG narrative and institutional adoption

We’re writing a bit more often as of late given the recent market volatility. In our blast yesterday, we highlighted how forced liquidations may be coming to an end and asked if we could see a short-term bounce on seller exhaustion – today that’s what we got. Crypto bounced massively with Bitcoin and Ethereum up ~15% and ~25%, respectively, while many “alts” rallied even harder.

Why do we think we bounced? Two reasons:

Supply: We think investors may be nearly done unwinding cash and carr...

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