World Cup Trade Ideas
Idiosyncratic Opportunities Abound
The euphoric part of the bull market for crypto was largely about finding the fastest horse paired with one’s relative risk appetite. Unfortunately, in a bear market, most horses, notably the weaker or tired ones, no longer want to race. However, the past few months have revealed that ample opportunities exist to find the few horses that have some giddy-up in them.
The two environments require fundamentally different approaches. The latter requires a more active investing style focused on managing risk. Recently we have tried to surface more of these short-term, tactical opportunities to clients.
Last week, we raised an intriguing bull case for DOGE and SHIB. We provided the caveat that any denouncement of DOGE integration into Twitter could derail the trade and that any spike in SHIB should be de-risked expeditiously. Both assets went on to have a phenomenal weekend, with DOGE nearly doubling and SHIB rising over 30% from the Friday close. We are resurfacing this trade merely to highlight that opportunities are still out there despite the macro backdrop.
MATIC Outperforms
On the topic of idiosyncratic performance, MATIC has displayed some impressive price action in recent weeks as the Polygon business development team cont...Reports you may have missed
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RESEND: Bitcoin ETF Equilibrium Price Dynamics: ETF likely to drive significant rise in daily demand
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FLOWS BEGET MORE FLOWS We have recently discussed the potential return of crypto being correlated with equities due to the new category of market participants entering the fold. However, price action this week suggests that inflows into the BTC ETFs may be throwing water onto that theory. It seems apparent that, at least in the near-term, that the ETF flows narrative is gaining steam, and it is likely that the...
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