Sushi for Christmas

Key Takeaways

Alpha Opportunity: Despite a broad market shift away from DeFi, we think Sushiswap (SUSHI) presents an intriguing opportunity for investors at its current price. We discuss this further below. We note that leverage in the Bitcoin market is increasing, which may signal near-term volatility. Bullish indicators, including exchange outflows, increasing short-term SOPR, and a decreasing put/call ratio point toward a bullish breakout upon any liquidation event. Bottom Line: As Bitcoin’s leverage increases, investors should anticipate a bout of volatility at some point over the next co...