Today's Rebound was Encouraging

Discussed in today’s video:

• Bitcoin led today’s rebound (dominance higher) on strong volume. This suggests better odds of a sustained move and provides confirmation that the idiosyncratic seller is gone.
• Despite the rally, funding remains negative, signaling ongoing bear complacency and potential for short covering if BTC holds strength.
• Follow-through after yesterday’s capitulation-like setup strengthens the case that MSTR may have bottomed.
• U.S. spot demand is returning as the Coinbase–Binance spread continues trending higher.
• Vanguard allowing crypto ETFs is a meaningful sentiment shift and could open incremental inflow potential in the coming days.
• Polymarket odds now show Kevin Hassett with an 82% chance of becoming Trump’s Fed Chair pick, a friendly outcome for liquidity-sensitive assets.
• SONN sold off on low liquidity despite the approval of its merger with Hyperliquid Strategies. I provide some thoughts on today’s drawdown in the video.

Tickers in this video: BTC 7.08% MSTR 5.54%