https://home.treasury.gov/news/press-releases/sb0607

this announcement gassing risk

pretty wild 2nd tick to 70.3 on the bina perp

surprised bybit didn't grab 70s as well

https://waitlist.gte.xyz/r/X0AET

GTE signup here for you perp dex farmooors

if we full retraced to 65 i'd think "yeah no shit that was obvious, this is nowhere close to full YCC + short liq move"

if we full blasted to 72 i'd also think "yeah duh frontrunning the guaranteed 4y cycle bottom after underperforming for 10mo"

tough spot tbh

much easier to have conviction on long gold than btc here. would say btc is also an easier long than eqs (mkt validated this kneejerk too)

lmfao

closed my hype long at 62 1h ago

ggs to bulls

imho this headline is net neg for lighter

my reading of previous guidance on regs had them getting preferential treatment over next 2y over hype

getting the same deal means they're fighting on distribution which is more of a tossup but prob still in lighter's favour - just less skewed than the situation was 2wks ago

for friends looking for more beta - with the link + eth moves, i like ETC

ENA, PUMP, PEPE and the other usual suspects should also be good

i do think this current AH leg up is anticipation of asia buying fwiw

if crypto holds up, i believe AI names will underperform heavily into the next week

today's move is materially diff from end of july when we saw crypto o/p during US only for asia to fade

other than that - has mostly been western tz sitting on the bid

am quite curious what the btc etf numbers coming out today will look like: https://farside.co.uk/btc/

https://0xsmac.substack.com/p/a-trillion-times-larger

fun read - i enjoyed the game as well: https://smacworkflow.github.io/matrixgame/

yeah duh we frontran the guaranteed 4y cycle bottom after underperforming for 10mo

think we may see some softness over next 24h

if you're long, would not panic.. if flat, look for entry

mid-low 70s seems good to me