Best of Crypto

The time between Christmas and yearend is often a bit weaker because people take profits to pay tax. I'm looking for a good reentry point

Today we saw further meltdown of stocks and especially cryptos. 2 hours ago the Fed sent speaker Goolsbee to calm markets by saying he still sees "a judicious amount of rate cuts" in 2025. Markets are recovering now. I reinvested most of our cash.

Powell decided to pop the stock market bubble in the US today or at least cool it down a bit. Rates were lowered as expected but he said something like: everything is great, maybe we can wait for further cuts a bit longer. These comments, together with the ultra leveraged long stock market traders was enough to cause a selloff in US stocks.

Many traders entered the stock market lately with leveraged bets and they get shaken out now.

I decided to move 40% of the strategy into cash and wait for more clarity how stock market movements affect crypto in the next few hours

Shortly before Christmas the stock Microstrategy will be added to the Nasdaq100 Index with almost 0.5% weighting. If this boosts the stock, the CEO Michael Saylor will issue new shares and buy more Bitcoin. So Bitcoin is factually now added to the Nasdaq100 Index... Plan accordingly..!

Strategy cash was fully reinvested over the past 24 hours. Leveraged altcoin traders have been stopped out and the funding rates are now all back to healthy levels. The price action over the past 48 hours was simply a necessary correction after the strong rally in the past weeks.