Michael Unetich

@BitcoinNewsCom Smells of a Biden Bottom akin to the infamous UK Gordon Brown Bottom in gold

NEW: “🇺🇸 US Government selling their #Bitcoin right before ETFs likely approbation makes them not the best of traders" says Novogratz 👀

@LynAldenContact What's your call for Fed Day next week Lyn?

People would do well to study the September 2019 to January 2020 period in markets, imo. Not a perfect analogue, but good to be familiar with. The Fed tried to remain semi-tight while managing liquidity. That middling period would have lasted for longer if not for the pandemic.

@rt_gamma Are you including CME S&P options? There's a ton of volume and OI there too which influence equally to more then SPX

Quick intro for new followers. The 📏of bars show qty of call or put γ. LG = 'large gamma' = (call + put) at that strike. GEX is (call - put) of all strikes. LGs are🧲, GEX is momentum🚀 We're also working on other tools that hopefully we can share soon. #0DTE #SPX

@otteroooo This happens in the stock market every day, they're called options. Agreements were from 2019/20

Jump Trading allegedly received LUNA tokens at $0.40 when market price was at $90 That's a 99.5% discount If true, you're being dumped on, folks Past present future 🦦

@biancoresearch Market prices reflecting that the Fed has zero credibility

1/6 This chart showing the difference between what the Fed is suggesting they will do (red) and what the market is pricing (cyan). It continues to be the story for 2023, especially going into tomorrow's CPI 🧵with thoughts

@CumberlandSays @jvb_xyz Other Downside Risks 3. Continued hawkish fed, rates higher for longer/strong dollar 4. More institutional abandonment for multiple reasons 5. Brain drain back into more traditional fields due to market malaise/apathy or menacing regulation creep

Ultimately, the swing vote will be cast by regulators. We think that thoughtful, well-structured regulation will spur a Cambrian explosion of technological innovation and a secular bull market. Senseless and/or overly punitive restrictions threaten to do the opposite. -@jvb_xyz

Post FTX, crypto markets have settled into a new range – wrapped around $16,500 BTC and $1,200 ETH. While we could easily trade sideways through a quiet holiday period, there are a number of catalysts in either direction 🧵👇

@lizrhoffman 🤡 journalism at its best

Setting aside whether there was fraud or not - a question for DOJ - this appears to just be a run on the bank. Crypto tokens are objectively riskier/stupider collateral than mortgage bonds, but neither are cash! Same basic gravitational forces at work here.

Letter SBF sent today to FTX employees h/t @CoinDesk

A far cry from the grand exit of $70 that the mkt predicted a few wks ago...

@charliebilello Would be great sometime soon to see this list on a 30 or 60 day basis, if you would be so kind Charlie

Commodity price changes over the last year... Heating Oil: +68% Natural Gas: +67% Gasoline: +35% Coffee: +35% Brent Crude +30% Wheat: +28% WTI Crude: +27% Nickel: +13% US CPI: +9.1% Sugar: +9% Corn: +8% Lumber: +5% Cotton: +3% Soybeans: -1% Gold: -5% Copper: -24% Silver: -27%

@BillAckman Bill, why not take more into account how far most of the major commodities have already sunk? Your focus on CPI may prove to be backward looking

on the need for higher rates for longer, and when market participants carefully review the ‘70s and early ‘80s precedents and their comparability to current economic conditions. As always, I welcome your feedback.

In response to today’s CPI print which showed broad-based and accelerating inflation, short-term FF futures moved upward implying peak FF of 3.68% by 12/22 with the @federalreserve immediately thereafter cutting rates to reach 2.9% by 1/24. Implicitly the market expects a more

All of the US wage growth since the start of the borrowing/printing binge has been a mirage, up 12.3% in nominal terms but -1.5% after adjusting for higher prices. Initially, everyone loves "free money." It's only w/ the passage of time that the ravages of inflation are revealed.

That's a hard call to make, but what's not hard is to judge the failure of the Fed who were given a bread crumb trail of evidence of a bad moon a-risin' more than a year ago and chose to do NOTHING with it until it was too late. END

If the turn in rates lasts, a stock and crypto bottom is likely in. If the rate market rally is a fraud (see recent Bill Ackman thoughts), bonds are a sale and stocks/crypto could be in for more rough sledding. 10/11

The last two trading days in the US markets have been very interesting. The bond market has been on an absolute tear higher (price-wise that is). Stonks have taken shelling, but have been resilient and settled strong both days. Diving a bit deeper... 1/11