Last night, GSR raised $SOL in Core3 to 23.5% and lowered $BTC to 40.5%. While many people are still saying “BTC is the only strong one,” this portfolio is already scaling out.
The market hasn’t shown a convincing consensus either: $BTC is up 1.33%, with 1.40B in trading volume and a Fear & Greed Index of 68, but market breadth is only 12/21. $ETH ’s long/short ratio is at 2.38, while spot is up just 0.88%. Historically, volatility often picks up after longs become crowded, and these figures make me a little wary.
I think this looks more like a structural recovery after longs became crowded, rather than a market-wide short squeeze. If trading volume for $BTC keeps shrinking and breadth falls below 50%, this view is invalidated. If breadth climbs back above 60% and $ETH spot catches up, then I’ll have more confidence in the structural recovery.
Before going long, do you look at breadth first, or trust the model portfolio?
#Binance #BTC #ETH #SOL
The market hasn’t shown a convincing consensus either: $BTC is up 1.33%, with 1.40B in trading volume and a Fear & Greed Index of 68, but market breadth is only 12/21. $ETH ’s long/short ratio is at 2.38, while spot is up just 0.88%. Historically, volatility often picks up after longs become crowded, and these figures make me a little wary.
I think this looks more like a structural recovery after longs became crowded, rather than a market-wide short squeeze. If trading volume for $BTC keeps shrinking and breadth falls below 50%, this view is invalidated. If breadth climbs back above 60% and $ETH spot catches up, then I’ll have more confidence in the structural recovery.
Before going long, do you look at breadth first, or trust the model portfolio?
#Binance #BTC #ETH #SOL