ByzantineGeneral

How depressing is it when you look up the top gainers in crypto of the day and you mostly see stocks 💀

Open interest is on the rise, but spot is still selling (mostly Coinbase) which results in funding being neutral and the liquidations tape also shows that there are a lot of vulnerable longs in the system.
So not great.
$BTC

Bad morning everyone.
Coinbase started selling off $BTC like crazy out of nowhere while the $SPX is still holding up, creating a negative decoupling.

$BTC's relief rally last month was mostly sponsored by the USA, but the burgers aren't buying anymore so I think it's pretty clear why bitcoin is stagnating right now.

Happy bitcoin pizza day to those who celebrate!

What a chart.
$TRX is in a market of its own.

$SPX futures & $BTC moving a bit higher in tandem this morning. There's some hope.

$BTC clearly broke its uptrend. I have a bearish bias now. I think that any pump back towards those local highs is a comfortable short. 74k could be support. We'll see, worst case we go to the high 60s.
For the CEX traders, trade or countertrade me here:

$COIN looks pretty interesting to me. If the CLARITY act passes, that would probably be very good for Coinbase.

I swear that twitter keeps un-liking posts from my mutuals that I've liked. Wtf is going on here.

$HYPE not looking very sexy at the moment.
Needs to pump pretty much right now or it loses its uptrend.

$ETH honestly looks so trash.
Even if we continue going up, BTC is for sure the better play.

Some of these American tech plays are insane. Can we have this in crypto please? Thanks.

Lower timeframe the $SPX still looks good, but $BTC looks a bit top-ish.
Could see a small retrace to 78k or 77k.