Today’s Nuggets
Bullish Set Up for Bitcoin
Analyst Price Targets Now Avg $278,700
BTC up 500%, ETH up 100%
Bitcoin Treasuries are on Fire
Galaxy Added to Nasdaq Today
The Robots are Coming
Tesla FSD Crushes Europe’s Final Boss
I have been covering treasuries for quite some time, and we are seeing astounding things happening now.
The momentum is clear. In this first quarter alone, about 100,000 Bitcoin were purchased by the treasuries, and there is much more coming every day. There are Bitcoin treasuries stacking on Bitcoin all the time, it is quite out of control.
We will dig into that today, as this one is called Secret Stackers.
Last week, I shared this Crypto Market Fear & Greed Index, which was at 71, and now it is 69.
It has fallen ever so slightly, but that does not matter.
This is the Bitcoin one-month 25 delta skew chart, and it has fallen 6.1%.
This means that the call option bets - the bets on the price going up - have higher expected swings than put options, which are the bets on the price going down.
This suggests that traders are very optimistic and focusing on gainers, i.e., going long on call options rather than hedging or protecting against losses.
This is a really strong setup for a rally we have not seen in quite some time.
When we look at the put option skews from Kobesi, the put-call ratio for the stock market has also fallen to 0.55.
This is the lowest level since 2020. The ratio halved over the last month, and the market has experienced a very sharp recovery.
You heard me say that
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