adam

adam

187,154 Twitter followers

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often wrong, never false. education at https://t.co/zK8xP4YHM5 part of @breakoutprop

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Some more expanded Bitcoin thoughts on current market structure, what's the sensible trade to take and so on. Yesterday we saw the worst day since FTX collapsed. Price being down 14.04% puts this as the 5th worst day after FTX, 2021 China ban, Celsius/3AC collapse and Covid. One thing which I guess a lot of people are expecting on a day like yesterday is more capitulation in the perps market, which I personally don't think is really necessary considering how much leverage and open interest got wiped out on 10/10. The slightly more muted reaction (no massive liquidations, funding at baseline) is not that surprising in the current market conditions I guess. Where the blow-off happened though is in options where level of backwardation in term structure and put premium equals the FTX crash levels panic.

not the worst spot trying to catch a knife on Bitcoin also picked up some Hyperliquid for rather obvious reason

I dont think I have seen an interesting market take or anything of value here for last several weeks here. My feed is full of outrage on either the American rapist or the Chinese-Canadian rapist, time to run it back with some market related content I guess.

if you're feeling down these days about the fact that you wasted your life and money by being in crypto, don't worry, you wouldn't be doing anything meaningful with your life anyway.

people frown upon crypto and crypto twitter, but what other group can not only be such amazing traders that they share refflinks for all these high-quality A-tier exchanges, but also so easily pivot to multi-sports betting expertise when markets slow down.

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