28 Feb 2023

Monthly market wrap-up: A game of hot potato

My short-term outlook has improved after a slow but SEC-heavy February and a BTC push toward $28k could happen sooner rather than later. Further, Shanghai represents attractive narrative-based opportunities in favor of increased weighing in LDO and ETH.
Vetle Wrap Up


  • I believe March represents an opportunity to be aggressive
  • Do not buy the weekly altcoin winners
  • An intriguing Shanghai trade
March represents an opportunity to be aggressive
February has been a wobbly month for BTC, with no material changes in the market. Correlations reign milder than in 2022, a potential side effect of Alameda’s fall, as Alameda had pursued “substantial hedges, in some combination of BTC, ETH and QQQ” in the summer of 2022. The milder correlations and reduced liquidity has set the stage for a schizophrenic volatile, and unpredictable market.
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