Is It Time to Rotate Out of Crypto?
Episode publishedPodcast: 1000X1000X
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The equity markets are up. Gold is gold is ripping. Everything is ripping except for Bitcoin and Ethereum and Solana and crypto. And to me, that suggests a little bit of weakness or it suggests like a actually, not a little bit, like a a a good amount of weakness in the market. I think up until this morning, I was a little bit more bullish. But when you see when you see a divergence like this, when you see, you know, SPY up half a percent, Nasdaq up almost a percent, and Bitcoin down or, like, not moving, you you have to start thinking, okay. Well, does this mean we've run out of buyers?
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Welcome back to another Thousand X podcast. It has been a reasonably uneventful week. A little bit of chopping here and there for Bitcoin. Both bulls and bears got excited, I think, over
the
last few few days since we last recorded. But overall, basically, things are at the same price. The one notable exception in terms of movement was Solana, which had that great rally up from 200 to $2.50, now back down to $2.31. I don't know, Jonah. What what do you what are you thinking? What what excites you in the markets right now?
You know, it's funny. You said uneventful week, and I I guess if you just look at the price action between the last time we recorded and today, I kind of agree with you. You know what's funny, though? I I got my start in content creation long before this podcast. I would put out internal notes to people at Goldman, people at VTOL, and then at DRW I started tweeting it, which is kind of how we ideated on this podcast together. Basically, you did the same thing. Started in newsletters. Nobody wants to read a newsletter that begins with, Hey, nothing happened. Oh, it's just a boring market sidewa
What's interesting is like it ripped it's it's kind it's kind of interesting. It ripped specifically because you got unlucky. It ripped specifically because of a dad. It's like, it it ripped because it it raised it raised money. And one thing that I found really interesting is a lot of people got very angry with you over the idea of shorting something. And that to me tells me it's over owned. Like, you have I mean, mean, think about this. Like, if you have like and and a lot of the people like no no shade to them. A lot of the people are like like the VC crew. It's it's it's a lot of people th
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