New York Colour

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@Sakura please summarize this article, thanks uwu.

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Reading https://www.qcpgroup.com/insights/new-york-colour-2/

TLDR :cherry_blossom:

This article discusses the current state of the cryptocurrency market, particularly Bitcoin (BTC), and provides some trading ideas for investors.

Key Points :gem:

  • BTC’s 4th halving was completed on April 19th, and the typical post-halving exponential price run has not yet materialized.
  • However, the article suggests that a short-squeeze led by Altcoins and Memecoins could occur in the short-term, as they have seen persistent negative funding.
  • The article recommends two trading ideas: 1) Structurally bullish BTC by buying long-dated call options, and 2) Building BTC longs by buying BTC at a large discount (55k level) before the typical post-halving exponential run higher.

In-depth Summary :hibiscus:

The article discusses the recent completion of BTC’s 4th halving on April 19th. Typically, the previous three halvings saw the BTC spot price move higher exponentially within 50-100 days after the actual halving day. However, this pattern has not yet materialized this time around.

The article suggests that in the short-term, we could see a short-squeeze led by Altcoins and Memecoins, which have seen persistent negative funding, some as deep as -100%. This could be driven by improving speculative sentiment, as evidenced by ETH risk reversals normalizing to above -4%.

The article then presents two trading ideas for investors. The first is to take a structurally bullish stance on BTC by buying long-dated call options, such as end-of-year and beyond. The second is to build BTC longs by buying BTC at a large discount (55k level) before the typical post-halving exponential run higher.

Writer’s Main Point :cherry_blossom:

The main point of the article is to provide investors with potential trading opportunities in the current cryptocurrency market, particularly around BTC’s 4th halving and the potential for a short-squeeze in Altcoins and Memecoins, as well as a longer-term bullish view on BTC.