The stars align for the next leg higher #10

In this week's episode Imran and David discuss the aftermath of a big macro week that saw huge swings in crypto prices. The BoJ was a damp squib as David had been expecting but the FOMC implicitly signalled their tolerance for above target inflation. We saw the first rate cut out of the SNB and expect synchronised easing by the summer across major central banks. ETF inflows slowed down and Greyscale liquidations weighed on the market but now that has cleared we may see inflows reaccelerate into quarter end. The options market preempted the weakness with put skew catching a bid two weeks ago, something Imran highlighted was making him cautious. After trading near key supports, put protection was monetised and call buyers came back, leading to a dramatic reversal back into call skew. Game on for new highs!

There are no comments yet.

Please log in to write the first comment.