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Ahead Of The Curve
20 Jan 2025

Wait and see

New all-time highs for bitcoin, multiple memecoins issued by the U.S. president, and derivatives traders entering wait-and-see strategies while awaiting executive orders.
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A big week, maybe the biggest ever
BTC reached a new all-time high of $109,358 in the lead-up to Trump’s inauguration, retracing back to $100,000 soon after Trump was sworn in. The market now eagerly awaits crypto-specific executive orders in the coming week. While BTC hit a new all-time high, ETHBTC hit a four-year low following the launch of Trump’s official memecoin on Solana. In light of a strong BTC rally into an absurdly frothy weekend of memecoin madness and huge expectations with regard to Trump’s crypto policies, we favor a soft derisking after a very strong two-month period. We prefer lowered risk as we await directional confirmation rather than maintaining aggressive long exposure.
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