The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - I would take this week's price action with a pinch of salt as things will be highly illiquid. Equities are in the green while interest rates continue to rally in strong fashion with 2Y down to 4.27% and 10Y down to 3.84%. We have just 3 trading days left of the year including today.
**CRYPTO** - After SOL's mega rally to north of $120 price action seems to have cooled and stabilised there recently, settling at around 108. In fact, believe it or not ETH is the thing that appears strong today as it's up about 5% to north of 2300 again causing ETH/BTC to rally to 0.054 and SOL/ETH to drop by about 10% to 0.047. I do think ETH is one of the better risk/reward trades here...atm the market is purely thinking about upside and not downside. If we get a sell-the-news event post ETF stuff like SOL and other alts which are up big could see 30-50% pullbacks, whereas imo that is unlikely on ETH, especially with the ETH ETF being the next thing to come into focus. With how much everything has pumped recently I'm starting to feel a bit cautious for the first time in a while. I think we can still rally into the announcement but you have to think a lot of that is priced in and many people will have positioned for that and put that trade on with the intention to sell on the news. IMO we could see a decent pullback after that which I think we eventually recover from and exceed throughout 2024, but I think it's worth bearing in mind that a January dump could well be on the cards. For me I think that means no leverage and try to cut risk outside of majors...I'm still not feeling like I want to cut spot majors here just in case I'm wrong.
GL today!