Flight to Quality

Name: FS Insight
Price range: $$$

Oct 19, 2023 • 7 Min Read

Author

Sean Farrell ^AC

ARB 0.13% BTC -2.39% ETH 2.74% OP 7.75% SOL -0.39%

The Bid We’ve Been Waiting For

Last week, we painted a picture of a market on the cusp of a potential rally. Our thesis hinged on a confluence of favorable factors: a local peak in rates, a possible global liquidity turnaround, and encouraging seasonality trends. However, the market remained largely inert, a phenomenon we attributed to the uncertainty surrounding the SEC's potential stance on Grayscale. The market had been in a holding pattern, with high-volume BTC traders preferring GBTC over spot BTC to mitigate directional price risk, likely also hedging their bets by shorting the fut...

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Flight to Quality

The Bid We’ve Been Waiting For

Unlock this article with a FREE 30-Day Trial!

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