Show notes
On the latest episode of The Trading Pit, The Solana Network Goes Down (Again) and were noticing all the red flags buyers need to notice before buying the dip.But first, Solana isn't the only news event. 👉Enjoy the show and looking for ways to support it? Consider trading on CoinCall and use the link here to open an account. https://partner.coincall.com/jarvislabs Genesis, the former crypto lender, is looking to offload $1.6 Billion in GBTC ETF shares, adding more sell pressure. When will GBTC finally stabilize it's flows? Markets continue to take the slow walk towards bull town, with spot, perpetuals, and options all suggesting range trading for the near-term. Volatility is being suppressed like a beach ball under water, and market makers are happy with the carry trade to squeeze out additional yield in a slow market. But markets don't stay quiet for long. And king kong dollar looks ready to rekt a quiet market. As DXY closes above $104, risk increases of a dollar run that would cause a risk-off tsunami through bitcoin and the rest of the crypto markets. And with headline jobs and growth numbers looking iron man strong, the Fed has little reason to cut rates and inject fresh liquidity. Will the liquidity armageddon finally arrive? Back to Solana. Even in bear market congestion, the Solana network goes down. Is Solana ready for the big time if it's can't handle these volumes? But that's not the real concern. A price chart primed for capitulation and unresolved questions about supply are more reasons to be cautious on this trade. It's anything but a sure bet. Finally, the Degen Trade of the week is finally in the red. It should have been closed out a week ago. But it's invaluable learning, right? ("ain't no gains without some pains"). Is it too early to start trading the Halving? 👉Enjoy the show and looking for ways to support it? Consider trading on CoinCall and use the link here to open an account. https://partner.coincall.com/jarvislabs Chapters: 00:00:00 Genesis Prepares to Dump $1.6 Billion GBTC 00:02:51 Bitcoin Continues to Range as Spot, Perpetuals Weak 00:07:55 Patience, the Market Sell Off is Coming 00:10:47 Bitcoin Vol Remains Low (No Impulse Yet) 00:15:00 Options Markets Signal Indifference 00:18:59 DXY Crosses $104 But No Sell Off. Yet. 00:22:01 Rates Following DXY 00:28:37 How Fed and Treasury Respond to Election Year 00:33:37 Solana Losing Momentum As Network Fails 00:35:30 Don't Rush to Buy the Solana Dip 00:42:35 Trading Ideas 👉 Share your thoughts with the Crypto Enthusiast Survey https://bit.ly/XCGsurvey Follow the team: xChanging Good Studios https://bit.ly/xChangingGood Espresso Newsletter https://bit.ly/espressobrew On Twitter @Marconiwight @MrBenLilly @JlabsJanitor @horushughes @Kodi_thekid @benjamin_skew Disclosure Statement This content is for entertainment purposes only. Nothing shared during this broadcast is or should be considered financial advice. The views and thoughts shared here are simply opinions. Do your own research and consult a registered financial advisor before making any investments. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit xcgood.substack.com
