Jasper De Maere
@Jjay_dm
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Desk Strategist @wintermute_t | quant & fundamental crypto research | macro | derivatives & flow. Ex @MorganStanley My views are my own.
London, England
Joined July 2021
A lack of fresh liquidity is the reason why rallies have been short-lived and why breadth has narrowed
Liquidity drives crypto cycles, and now, the money has stopped flowing in Stablecoins, ETFs, and DATs have grown from $180B to $560B since early 2024, but momentum has slowed Capital is rotating internally, not entering fresh → rallies die fast and breadth keeps narrowing
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BTC still moves with equities, but only when it hurts The correlation remains high at ~0.8, but BTC reacts more to Nasdaq losses than gains This negative performance skew is now at levels last seen in late 2022, yet we're sitting near all-time highs
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The year is 2021, Squid Game just dropped, a ship got wedged in the Suez Canal, everyone’s spending 6 hours a day on Zoom calls… and $DASH, $FIL, $ICP, and $ZEC are all pumping.
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What’s behind the crypto market weakness? Our OTC Trader @Jjay_dm shares with @FortuneCrypto “The current weakness reflects a mix of digesting 10/10, slightly more hawkish Fed tone, and broader risk-off across assets.” 🔗 Full article:
fortune.com
The markets staged a modest rally after Tuesday's wipeout but assets like Ethereum and Solana have taken a pounding.
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Sorry to disappoint you, but Wintermute is perfectly fine, business as usual
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$ZEC breaking through ATH marketcap. Remember to toggle between Price and MC from time to time
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TL;DR >> L1 rallies propagate wealth. Solana’s late-2024 run spilled into DeFi, DEX tokens and ultimately memecoins, BSC’s current cycle is showing the same dynamics. >> Liquidity persists until capital leaves. Even as activity cools, the wealth-effect loop continues as long as
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The dynamic behind last year's $SOL and the more recent $BNB is completely different but we're currently seeing meaningful wealth recycling within the ecosystem as result of the L1 price appreciation. Read it here - https://t.co/A86bYP93RE
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Unprecedented times require new strategies
#Goldman's top derivatives trader, Cullen Morgan pointed out something unprecedented: "This past week saw the S&P green five days in a row for a return +1.09%. At the same time, VIX Index was up 1.36 points, ALSO notching five consecutive days higher. This was truly
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$PUMP is leading today on OI growth and price action. With market momentum picking back up, it becomes clear which narratives are exhausted and which ones are catching a fresh bid.
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Positioning shows the market's expecting $XPL to take a breather over the next day. If it doesn't , it could lead to a supportive squeeze back into the $1.40s.
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Pre-revenue IPOs are back Watching how many times it’s underwritten and how it trades in the market should be a good froth indicator.
Fermi, co-founded by former U.S. Energy Secretary Rick Perry, is targeting a valuation of up to $13.16 billion in its U.S. initial public offering, it said on Wednesday, as the AI boom fuels spending on data centers.
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Wintermute OTC desk supports $XPL @PlasmaFDN Tradable now via: ╰ Chat/Voice – all popular messaging apps ╰ API – streaming and RFQ pricing →→→ https://t.co/WpT1TmGGXt
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