Market Update - Bitcoin, Macro, TradFi - 6/20

More Sunday AM on everything. Friday here after a Holiday week with a massive OPEX, Iran decisions looming, and oil settling down a bit and waiting . . . . . . .

Bitcoin Funding Rates

From BitcoinMagazinePro.com - shorts jumping in and out in front of the Higher Time Frame Money Flow:

CCJ Weekly

A core holding and have added more recently, but not in very recent days so much . . . . . . . . . blue zone with arrows be careful no rush in my view . . . . . .

Mining Hedges

For the record - I generally agree with the overall, broad sentiment from a context perspective about the dollar grinding lower and the current administration certainly in favor of the dollar moving lower over time. I understand all the arguments and reasons why.

In the here and now - sure I can see the dollar declining even further, but perhaps not before a vicious counter-trend move. The whole world hates the dollar it seems. I like these extremes as a hedge. BTC is “extended” above the “normal” boring levels like say a simple 21 day EMA. The dollar has been crushed and “everyone hates it” as shown here by The Market Ear at ZeroHedge.com😀 

What I’ve noticed more so in the last few weeks is that despite being pummeled repeatedly verbally on the TV screen and online in various forms, USD/DXY seems to not want to go meaningfully lower. Hmmmmm. Interesting. Also, we have things like this such as the hedge funds layering on more and more shorts:

Primary goal is to hedge daily mining profits. Enhance them when possible but more importantly protect against lower BTC prices. BTC is ‘extended up’ in a general sense, and USD has been smashed way down in a relative sense (kinda like VOL has). Long USD for me as a hedge/trade.