Daily Vol ed. 2025-05-02 ⚖️🐂 Not sure about short term direction atm, so defaulting to bullish BTC with a longer timeframe 😅 We're close enough to 100k to chop around for a bit. It likely won't be broken through in one go. But the backdrop is looking pretty good. - Bitcoin CB premium continues to be positive. - Long-term options skews also in fairly deep bullish territory. So i see a confluence of large players buying with longer term optimism returning to healthy levels. MSTR - The additional 21b is somewhat expected. - What decides whether this is feasible is dependent on the mnav. - Will be monitoring regularly - There may however be some compression, due to competition from 21. - On the flipside, Quinn and some others think MSTR topped. Position Changes - TP’d alt longs(partial HYPE & full FARTCOIN) and added some short hedges as we took out a fairly large liquidity pocket at 96k. - ETF flows seem to have slowed after the flurry of buying activity last week. - Retail still buying stocks, but some indicators(Mc Donalds traffic) showing weakness here so no need to be aggressive on alts. Positioning : Long BTC with hedges Long BTC HYPE Short WLD WIF ENA TRUMP Positives - 21 joins the MSTR game - Continued BTC/SPX strength - Macro bottom call from Felix based on extreme pessimism - LT bitcoin skews still bullish - Treasury buybacks news Negatives - FOMC derisking - Retail still buying dips - Julian Brigden, JPM - Debt refinancing wall in summer - Michael Howell - Federal student loan maturity starting in May - Anna Wong - BTC etf 1b inflows have marked tops 🕹️Currently trading mostly on @Lighter_xyz Closed beta. Early. Points. ZK-tech. 165% apy LP-Vaults. Backed by big names. Use link to join the party. DM for access as I'm running short on codes. Only serious players apply.