The weekly rebalance was made an hour ago. So far, no changes in structure, 50% $BTC and 50% $USDC ✅ Just like with Diversitas, we are waiting for the final capitulation event before deploying more capital😉
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Last but not least, we are still seeing negative Coinbase Premium, which is also signaling that the pain may not be over when it comes to crypto. This is also the reason why we are patiently waiting for the final capitulation event with 30% of our position in stablecoins⌛$BTC $USDC
Yesterday, the stock market was closed due to Thanksgiving. Crypto on the other hand moved mostly sideways. Today, the trading hours are shorter so this may be another day with little action. Therefore, there is not much to say at this point so have a great day and we will be back with our updates tomorrow🙌$BTC $ETH $BNB $USDC $LINK
Yesterday, Gemini Earn stopped processing withdrawals as their partner Genesis is facing issues due to the FTX collapse. Although the Gemini exchange continues to operate, people started to withdraw funds from it in a big way👀$BTC $ETH $USDC
We are seeing this trend when it comes to overall $BTC exchange reserves. People are doing this in panic but as a result, there is very little $BTC left on exchanges meaning that the selling pressure is extremely low at the moment✅This is extremely bullish so we have decided to buy some more $BTC at $16,500. We are increasing our holdings by an extra 5% and lowering our $USDC hedge to 30%.
Early this morning, $BTC dropped below $16k and the rebalance to invest an extra 5% $USDC into $BTC was triggered. So far, we have seen a very encouraging bounce but it's too early to call for the bottom. For now, we will keep our rules in place but monitor the market in case we start to see some bullish signs👌
Being in the biggest and the best crypto's like we are now, is the safest way to play this crypto winter.
More and more rumors are starting about $USDT and with the peg almost back at a dollar, we decided to rather exit it and switch to $USDC. It will cost us something in trading fees but it's worth doing it as we don't want to risk such a big percentage of our structure.
Furthermore, we also increased the $BTC position to 40% and will therefore adjust the rules we have in place. We did this mainly because $BTC could go up in case we see more pressure on $USDC as people will likely sell them for $BTC. We saw this happen in the past so increasing $BTC by 5% at $16,500 (78% down from its ATH) seems like a good idea✅
Here is also an interesting thread about $USDT 👇🤔