I can recognise that feeling. It’s the “we’re close to the all-time high” feeling. I’m thinking of crypto. In traditional markets, things are boldly moving up but also further away from all-time highs, that’s just a function on the retracement we saw throughout September but now about 80% of the S&P 500 companies that have reported earnings beat expectations, so you can imagine investors happily piling on.

The asset that isn’t gaining is gold, for some reason. That saddens me as a holder of the precious metal but, voila, those are the ups and downs of markets and investors mood.

Back in the crypto space, BTC is up just half a percent, closing just a tad under $62,000. The BTC dominance on the other hand is boldly marching on, currently above 47. Essentially, that means that while BTC isn’t doing great, it’s broadly outperforming alts… still. 

Exception made of STX and WOO token that are having great days recently, you can indeed see other coins feel less supported; I’m thinking of: DYDX, AAVE, LINK or VET, even ETH actually, all down between 3% to 8%.

I’ve said in the previous briefings and I’ll stick my neck out again. I think this period is a great opportunity to take some alts positions. Buy when there’s blood in the street, even if it’s your own. Then you can hold for a long-term outperformance or even just a quick profit, using limit orders.

Amongst things to take notice of, the funding rates across exchanges is getting high. This makes me nervous, it means people are getting very one-sided, very bullish but also very leveraged. With a volatile asset and a sentiment-driven price action, things can turn bad quickly. This is on the short-term by the way; I remain bullish overall.

Away from technical factors and onto news, it was amazing to hear that Interactive Brokers is introducing crypto trading for financial advisors in the US. So not full openness, it’s not for everybody and it’s not everywhere but it’s still a massive step in the right direction.

On the less fun side, the New York Attorney General directs unregistered crypto lending platforms to cease operations in New York. I suspect that might be Celsius and Nexo but let’s see.

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