Bitcoin / Crypto Leverage Clean-out

Sunday April 14th

Last Week: Challenge Account 6k to 70k (Started Late Oct. 2023)

Super tough week and I realized -37k on CLSK MARA options along with a few smaller positions in MSTR.

Relevant Topics, News, and Data:

• Earnings

• Iran / Israel Tensions

• Massive bid in VIX on Friday

• Weekend Crypto funding rates (relatively) negative after wipeout

• Massive decrease in Open Interest (OI) in crypto

Theoretically with the large attention on the middle east escalation, over hedging Friday in Tradfi, and Bitcoin/Crypto wipeout, we should be finding a bottom this week. It’s pretty clear that the market is heavily skewed bearish. The only thing that would cause more selling is another NEW volatility event.

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Data this week: Summary and Comments Below

M: Retail Sales

T: Powell speaks

Moderated Discussion with Tiff Macklem, Governor of the Bank of Canada

At the Washington Forum on the Canadian Economy, Washington, D.C.

W: 20y bond auction / Fed Speakers

TH: Jobs / Manufacturing Data, Existing Home Sales, and Williams/Bostic

F: No data

Earnings start to roll in and there is less data releases. I am interested to see how the Powell discussion starts to shape up by Tuesday.