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Alpha isn't just the first letter of the Greek alphabet. It's a mindset. It's seeing opportunity where others see chaos.
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DWF Holdings is at an ath, actively operational like Alameda.. Wintermute their actions are visible in order books; they capitalized/bought on the bottom prices of Pepe, SHIB, WLD, etc.

DWF bought and sold to leave their mark on charts and order books.

GSR Markets is primarily engaged in market-making activities.
Corrections are part of the Impulsive market; nothing goes up in a straight candle. What goes up, goes down as well.

As mentioned a few days ago, each all-time high (ATH) has some correction, which can be labeled as an [OI Flush, Funding rates reset].

Grayscale has been dumping BTC, whereas BlackRock and Fidelity have been buying back. Their approach isn't aggressive, but they're still mitigating the pressure from Grayscale's dumps.

Q3/Q4, being the halving+elections year, historically sees investors moving from risky assets to risk-free assets. ETFs, especially BlackRock's digital assets ETFs, have been performing well compared to commodity and other asset class ETFs.

Real altcoin activity could kick in around Q4, coinciding with the elections and more stimulus from the new government, which would then flow into the markets similarly to the 2020 election stimulus.

Meme coins, new coins, hated coins, launchpads, new tech hype, etc., might double their last run's market caps.
April is often a relatively strong month for Bitcoin. In the past 10 years, six of those years have recorded positive returns, with an average return of 12%. relatively high possibility of strong momentum in April again.
No one can consistently time the market moves.

When prices reach ath, people wish for lower prices so they can buy in.

At lower prices, they become too scared to buy.

Thus, their capital remains untouched, sidelined.

Risk = reward. =/ sidelined
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BTC is showing a spot premium for the first time in last 2 months.
Tether minted 3 billion $USDT on Ethereum and Tron in just 4 days. Since April 1, most of those $USDT have flowed into Binance, Bitfinex, Kraken, and Coinbase, encountering the impact of ETF flows
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wen nothing works; it's war time

Nothing has changed; same words, same tags from the 2022 Russia/Ukraine war headlines.

No one will do anything. Fire some stuff into the sky and then go back home.

Hedge funds and asset managers will be buying, people's fear of a war that's never going to happen.

With the BTC post-halving, miners are sitting with billions to liquidate. As with previous halvings, BTC went sideways and money flow moved elsewhere; a replica of previous halvings might be the same this time. [more on this soon]
Alpha
wen nothing works; it's war time Nothing has changed; same words, same tags from the 2022 Russia/Ukraine war headlines. No one will do anything. Fire some stuff into the sky and then go back home. Hedge funds and asset managers will be buying, people's…
As mentioned some escalations , market-wise, now feeds will go into max panic, fearing not buying.

Hedge funds will suggest, "Beware of Buying the Dip." Bearish articles are all over the place.

But, like in 2020, dips will start recovering at 2x speed; the good stuff will be bought back again.

A 20%/25% drawdown after each all-time high has been normal, as mentioned last time here.

Hack/war/FUD = bullish.
Solana that Sam has been shilling in jail; FTX sold all their allocation to Pantera, now at the bottom.

Solana must go back up before meme coins start running again.

Previous performer coins = future performers.
QT
DWF Labs Deposited 10.8 million $IDS worth $7.69 million to OKX.
In the last 7 days, Wintermute, a prominent market maker, sold most of the tokens they were holding since bottom prices.

including tokens such as $ENA and $WLD..

They are now holding the majority of their balance in stablecoins [$USDC, $USDT, $WETH]. This behavior mirrors that of similar market makers like Jump, Amber, and Cumber.

Deposits for majors ($eth/$btc) on lending protocols increasing could be selling majors there to earn funding rates, or APR%.. OI growing, Market might going to stay here to a little bit more down side based on logical data reasoning.