5h ago
Market participants continue to be jaded meanwhile:
1. Seeing bullish divergences across the board, in fundamentally strong assets like $HYPE and $PUMP, and reclaiming key moving averages. These assets are trading at phenomenal valuations with a long-term time horizon.
2. Positioning is still offsides with L/S skew currently at 38%. Seeing lots of hedging of $HYPE for example with Hyperliquid leaderboard traders being 22% net long
3. On a macro level, tariff situation has eased with Trump comments last week, VIX is already coming down after last week's spike, and you have a Fed which is committed to lowering rates and reducing the restrictiveness of liquidity in the market by ending QT.
Asymmetric R/R to be long here. Full confirmation would be if $BTC breaks $115k and sets a higher high, invalidation if we break $107k lows.
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