Risk-Off Vibes Now, Euphoria Later. Stay Ready
Whales are selling, markets are chopping, and investors are de-risking, but the fundamentals have never been stronger. This is the calm before the next explosive leg up.
In partnership with
Howdy Hodlers,
It’s ugly out there, so we’re keeping it tight this week.
A quick hit on the chaos, a sprinkle of hopium, and a few laughs to keep us sane.
Let’s get to it. 👇
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The second leg of the bull run?
Yeah… it’s fashionably late.
The market has flipped risk-off for the moment while the macro economy tries to stitch itself back together… and the OG whales aren’t done unloading their victory-lap bags either.
But fear not… this isn’t the start of some 4-year-cycle doom spiral into crypto winter.
Not yet at least.
But it is a sideways chop with a slow-bleed undertone, likely dragging into early December. That’s when we finally get clarity on:
Whether the Fed cuts rates (spoiler: odds dropped harder than some altcoins).
How the economy is actually doing. Should have some official data now that the shut down is over.
And how sentiment is shaping up going into the year-end and new year..
Right now, there’s a lot of investors de-risking, tax-harvesting, and locking in some W’s before the calendar flips.
Boring, predictable stuff, but it looks dramatic on a chart and markets are skittish, so here we all are.
And here’s the frustrating part:
The fundamentals have never looked better.
Adoption is climbing.
Regulation is finally pointing the right way.
Integration is accelerating.
In fact this week, the biggest past crypto hater of all - JP Morgan - has flipped so far as to integrate into Coinbase allowing swaps for their JPM Dollar directly into USDC.
BTW, that’s TRILLIONS of dollars daily moving through JP Morgan.
But that announcement went relatively unnoticed. Just another example of fundamentals strengthening and adoption continuing.
While, we didn’t get the immediate “blast off” we predicted, the market has a lot of the clarity it needed:
Shutdown over
Altcoin ETFs live
Money printer warming up
US/China chill (for now)
Even Trump’s out here auditioning for Crypto Dad of the Year with all his positive comments.
Meanwhile, Saylor is working overtime dispelling rumors of MicroStrategy selling Bitcoin, instead reconfirming they are buying much more.
And still… hesitation.
So yeah, the chop continues.
This is the part of the movie where nothing happens… right before everything happens.
Sideways chop season:
Play the range.
Alts are risky.
Leverage is riskier.
Pick your poison - we drink them all! 🥂💀
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Hodl Headlines
The Week’s Most Interesting News
XRP ETF Off to Hot Start with Record Day One Volume: The newly launched spot XRP ETF logged $26 million in trading volume within 30 minutes, already beating analyst expectations. It now has a strong chance of surpassing the $57 million first-day record set by a Solana ETF earlier this year.
Czech Central Bank Buys $1 Million in Bitcoin: The Czech National Bank (CNB) has taken a first step into crypto by creating a $1 million test portfolio including BTC, a USD stablecoin and a tokenised deposit - kept separate from its official reserves. The move is aimed at gaining hands-on experience with digital-asset custody and life-cycle management over the next 2-3 years.
China Accuses U.S. of $13 Billion Bitcoin Theft: China’s cybersecurity authority has alleged that Washington orchestrated a large-scale hack of approximately 127,272 BTC (worth over $13 billion) in 2020, tied to the collapse of a major mining operation. The claim adds a fresh chapter to digital-asset geopolitics and could increase scrutiny on cross-border crypto asset seizures.
Fed’s Susan Collins Signals High Bar for Future Rate Cuts: Susan Collins, President of the Federal Reserve Bank of Boston, indicated she sees a “relatively high bar” for additional interest-rate cuts amid inflation concerns and labour-market strength. Her remarks underline a growing divide within the Federal Reserve about the timing of future easing, an important signal for crypto investors monitoring rate-sensitive asset flows.
First U.S. Chartered Bank to Offer Consumer Crypto Trading: SoFi Bank has launched “SoFi Crypto,” allowing customers to buy, sell and hold digital assets like Bitcoin, Ethereum, and Solana - making it the first federally chartered U.S. bank to integrate retail crypto trading with banking services. The move bridges traditional banking and crypto investments under one roof, leveraging FDIC-insured accounts alongside digital-asset custody.
Big thanks for making it to the end of this week’s Hodl Report! 👊
If you enjoyed the ride, had a good laugh or learned a thing or two, feel free to share the love! Just copy/paste this link over to anyone:
The more, the merrier - because who doesn’t love a bigger party? 🥳
Happy Friday!
Disclaimer: The content from Hodl Report should not be taken as trading, investment or financial advice or solicitation to buy or sell any assets. This newsletter is for informational and educational purposes only. Please be careful out there and DYOR (do your own research)