The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**CRYPTO** - Solana has come raging back today having hit lows of $98 currently sitting at $108, and bouncing about 6% relative to ETH. Meanwhile BTC and ETH are only up modestly to prices of 42.8K and 2360 respectively. ETH/BTC remains at 0.055 but as mentioned we've seen SOL/ETH climb back to to 0.046 marking SOL's once-again outperformance today. Funnily enough, that coincides with funding rates for SOL dropping massively in the last 2 hours, dropping from north of 100% annually to around 50-60%. I'm not sure what caused that as we didn't have a big liquidity cascade but maybe people just took off some leverage given funding rates. Where do we go from here? I really don't know - it feels like prices across the board want to rally this morning and maybe my caution over the last couple of days was too prudent. BTW, when I say I'm cautious, it means I think people should stick to owning spot majors rather than having lots of leverage/alts/memecoins etc. It doesn't mean hold stables or cash...I would never do that in a bull market and you always want to have some market beta 100% of the time even if it's just spot BTC. The "trading" in a bull market becomes moving from those to riskier stuff to make bigger gains and then finding the right time to rotate back to majors. With there being just 2.5 days left in this year, the edging on spot BTC ETF is going to start getting spicier. IMO from next week onwards it's truly game on...the final deadline of 10th January is just 12 days away and before we know it we will have a result. Get strapped in.
GL today!