Market Update - July 10, 2024

German government dumping, whale manipulation, miners, and the biggest liquidation since March (by some measures, the biggest since FTX).

As noted in last week’s update, the estimated leverage ratio was higher than it’s been in a long time. While that doesn’t necessarily lead to big liquidation events, it makes them easier.

No big deal. Likewise for governments and whales dumping, manipulation, and all the other things. You always have to worry about those, in all market conditions.

Just wait until the US and China start shipping off their Bitcoins or when some stablecoin gets exposed as a fraud. Even worse if Justin Sun’s empire collapses (only happens if rumors about HTX, TRON, and USDD are true).

These are known unknowns, impossible to plan for but important to hedge against. Today’s update covers “known knowns,” things we can verify and incorporate into our decisions. Topics:

• Video

• 2019? There’s a better comparison

• ETFs

• Miners

• Metrics and behaviors

• Altcoins: ¾ goals unlocked

I strongly advise you to read the summary below and watch the video update! You miss too much when you get only one of them!

The rest of this post is for premium readers only.