One Current Market Observation:
Bitcoin trades on a multiple of factors. Sometimes it’s a risk asset, sometimes it’s a currency debasement hedge, sometimes it’s a momentum play. When Bitcoin held up so well during the tariff panic, that was the big tell that it was being priced more heavily on factors beyond it being a risk asset.
One Nugget of Trading Wisdom:
I, like many, would have assumed Bitcoin would have crashed much harder during the April market swoon. When price action deviates from expectations, that’s often when we must pay the closest attention.
One Reflective Question:
If the Bitcoin breakout leads to crypto mania across various products, how well-positioned are you to capture future opportunities?
One 1%-Improvement Idea:
Analyze whether your strategies might also work across products. Backtest whether you could expand your trading into futures, international equities, or crypto.
One Reading Recommendation:
Every Michael Lewis book is entertaining. While I don’t always agree with the spin or how certain topics are presented, I never regret reading any of them. The epic rise and fall of Sam Bankman-Fried and FTX happened to be documented in real-time by Michael Lewis in the book, Going Infinite.
Forget outcome. Let’s get better this month.
