“Overall, it would seem that the idea of the overhang has spooked markets more than the actual selling will.”

https://blog.coinshares.com/estimating-the-market-impact-of-mt-gox-repayments-ec4a4927e50d

if we remain around current levels despite repayment news, then i'll note it as a sign of strength

or simply that the fear selling is mostly done

watch the market

guess who fumbled 6 figs

yours truly

had to play it safe given overall market conditions 🥲

> U.S. nonfarm payrolls 206K, Exp. 190K

> Unemployment rate 4.1%, Exp. 4.0%

this eth trade is doing decent

i dont think this rally sustains, so will probably tp if it goes higher

esp for my lev position

QCP: Spot prices have stabilised suggesting decent support around 54k. Today’s US jobs data shows a downward revisions for both the April and May numbers. This confirms Powell's disinflationary path and potentially earlier rate cuts with both September and December starting to price a higher probability. — link

life alpha, but also applicable to crypto in some sense

worth a listen

your attention is so precious

https://open.spotify.com/episode/05Ve8pMS5bKRnuYS7Pq2Z6?si=So7Tz4cuQL6wE_yS29n1pw

very strong bounce on these sol memes

i derisked more on this bounce, because as mentioned i think the bounce is not sustainable

will bid with more confidence once overall market stabilises

sol is showing good strength tho

i have stink bids at 110 - 120

might adjust some to 100ish instead

have a great weekend everyone :-)

leave the charts and market and enjoy life

Mechanism Capital founder Andrew Kang: I believe 98%+ of altcoins topped for the cycle except for maybe a handful of coins that may make some new highs in Q4 2024/Q1 2025. Memes probably constitute a majority of the coins that have a chance of making new highs. — link