Correlations Necessitate Defense

April 11, 2022

Over the last few weeks, we've promoted our bullish crypto thesis, even going so far as to argue the Bitcoin bear market had concluded.

As of the writing of this note, we're currently watching Bitcoin lose our risk management level of 42,500. We entered into some small hedging positions on the loss of 46,000, but now we're looking to add to our hedging positions/raising cash this morning.

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Correlations Necessitate Defense

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