How the US Could Adopt BTC as a Strategic Reserve Asset, Look for ETH to Bottom Within Next Few Trading Days
Jul 25, 2024
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Political Prediction Markets Provide Partial Rationale for Pause in Rally
We see the recent pause in the July rally driven by two factors:
General Degrossing Across All Asset Markets: The past couple of days have seen degrossing across all asset markets, including the crypto markets. This is less crypto-specific and more of a function of the market rotating out of strategies (like the long MAG 7) that worked in the first half of the year but might not continue to be favored going forward. The IWM/QQQ chart below illustrates the shock that equity markets have experienced over the past f...