🐳 Weekly Edition: Unrest Leads to $800M in Liquidations

The ongoing conflict between Israel & Iran has resulted in $BTC falling from highs of over $110k on Wednesday to low as $102.5k earlier today.

We’ve said before it’s often smarter to hold than to panic sell.

Here’s why…

Bitcoin has now recovered to $105k. Its strength through the last few days has been impressive — the days when it would have lost 15% or more on this news were not so long ago.

A wave of “MicroStrategy copycats” has driven strong Bitcoin buy-side liquidity (those diversifying into other coins haven’t seen the same success).

If you have some dry powder on the side there’s more of a decision to be made about whether to allocate or not, but in the case of the Beluga portfolio, we're adopting the strategy of “spot and chill.”

Prior to the mass liquidations this week, we saw the first signs of $ETH breaking out in a long time, reaching up to $2,900.

The recent conflict aside, stablecoins are the talk of the town among TradFi institutions and retail traders alike. This seems to be the big near-term catalyst for $ETH, as the vast majority of stablecoins are on the Ethereum network.

Staking would be a major milestone as Ethereum staking can offer yields in the mid to high single digits, meaning ETF holders will be able to gain a reasonable annual yield on their holdings in addition to price appreciation.

Let us know, buying, selling, or HODL right now?