Raising Some Cash (Core Strategy Rebalance)
Jun 14, 2024
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We wrote on Thursday about how the reaction to recent macro data has been quite underwhelming. Crypto broadly rallied in response to a cool CPI number, but indicators such as a muted Coinbase premium and low exchange volumes suggest animal spirits are still lacking. Muted volumes relative to market prices, and low social interest as proxied by Google search trends further evidence a lack of risk appetite in the market.
With the above in mind, we are selling some alts within our core strategy to raise cash and position for a potential dip over the next few weeks. To be clear, this is a more...