That being said crypto is going to zero permentanly and it's never coming back. Farewell.

The primary way Arete Capital executes on the liquid side is via discounted OTC directly w/ a team. We do this for two reasons: - Discounts provide a buffer to potential market volatility. - We are long only w/ 6-18 month time preference for investment realisation. We buy what we think is good long-term value with a long time preference. In general the liquid book has low turnover. We also do execute directly on the liquid market if we think the price is right and discounts are not needed.

There has been some brutal trades especially on the protocol side one example being $AVAX. Has pretty much returned its +650% back to the market.

Actual thoughts on the market: - I think we remain range bound for longer than expected possibly until August. - Believe this is a re-accumulation range and not distribution. - Possible we test range low again but $58k is a key swing point in previous all time high. Doubt we clear this level. Thoughts on Sentiment: - People hate boring markets. Become too accustomed to making fast money on parabolic move. Results in trading choppy market conditions. Losing gains slowly over the weeks. - Overexposure to alts that have been bleeding whilst BTC goes sideways. - Range bound activity always creates market uncertainty. People missing the forrest for the trees: - US has flipped pro crypto regardless of Biden or Trump is in office. Never been more bullish on the US ever and think this is a genuine inflection point for crypto policy. - Ethereum ETF approvals opening up TradFi capital flows to an asset that makes much more sense to them (real yield & fits traditional financial modelling) - Election year with Trump leading the polls is incredibly bullish for risk-on assets. - Tight monetary policy is coming to an end sometime this year w/ 2 expected rate cuts. Markets are forward looking. Overall time to be locked in, developing fresh liquid theses, remaining diligent on deployment timing but ultimately believe this is providing an excellent opportunity for the latter half of 2024. Wish everyone good luck in the months to come. #BTC

This level is also of interest as largest ETF selling pressure happened at $58k. Post outflows ETF began to see consistent daily inflows of $300M.

$58k is the key level should be observing. Acted as the monthly resistance swing failure level for the double top in 2021. Price broke through and successfully retested the level now consolidating above it. #BTC