So in case you've been sleeping under rock, you might have missed out on the fact that the crypto Market specifically Bitcoin is absolutely rocketing to the moon. And I have an interesting update for you to actually give you a quantifiable number of how much the shorts are getting. Absolutely steamroll just for posterity sake As we film this, here's a quick look at: Bitcoin As you can see, here's where the rocket took off in the past week: Bitcoin is now up 16% past month, 25% year-to date old BTC old digital gold is up 166% Here's a look at the market cap obviously BTC rocking right now once again to give that a specific number Bitcoin now has a market cap over 800 billion not quite at that trillion dollar mark But every single day, seemingly getting a little bit closer. Now here's the really interesting part.

this Bitcoin rally feels different. Fomo and YOLO seem to be back. Another fancy way to say that is. maybe the Crypto winter is over.

It's Circa 2021, 2020 2021 There was a lot of enthusiasm, a lot of people were making money not even KN what's going on and they were just sitting there smiling playing that old slot machine in the world of crypto and they're like I don't know what's going on, but it's working and then obviously it got pretty horrendous there in 2022. But now that we're getting to the end of 20123 various things going on with monetary policy, the overall economy, people realizing what's happening with inflation, and also some updates from the SEC seems like we're very, very close to getting that spot. Bitcoin ETF Enthusiasm is returning. About 2 years ago, Crypto prices topped out Bitcoin almost got to 70,000 Then things got bad, then they got worse and then they got cataclysmic.

BTC sank towards 15,000 in the aftermath of Ftxs blowup. Prices have rebounded since them for most of 2023, but these felt like hard one gains. Rallies were quickly followed by setbacks by mid October Bitcoin was around 27,000 obviously as I'm recording this right now all the way up to 44k and then the market caught fired. fueled by optimism over over Bitcoin ETFs and sinking interest rates Bitcoin Just briefly touched 45k on Coinbase.

It had only just managed to surpass 40K a few days ago at a level lasting in early 2022. Brutal Down. But we are pulling out of that downswing and the question is, how much can it go up? Obviously, just very quickly talking about Coinbase also great beneficiary off of this Crypto enthusiasm. So on the year I mean at one point Coinbase was as low as $33 trading at 141.

Now in the past week, Coinbase ticker symbol Co I N is up almost 15% past month up 67% and get this, your Today coin is up 284 per. This obviously makes sense because Coinbase a lot of its money. A lot of its Revenue comes from Trading transaction cost. So as more people get excited, they're going to trade more so that's beneficial.

And as the price goes up, the transaction fees are higher. and then also just in case you haven't been, pay paying paying attention in terms of its competition of where other people might be trading a lot less people using FTX cuz it blew up. And now just because of the recent doj I Guess stuff going on with Binance? A lot less people using Binance, so not only is there enthusiasm, transaction fees are higher, there's more of them. and also really, it's I'm in no way saying like it's monopolistic, but it's just becoming like Clear Choice for a lot of people to use so coinbase, greatly benefiting off of the current situation.

uh, along with Bitcoin eth and all that. Speaking of which, I want to talk a little bit about some interesting shifts in the money in the sphere of crypto? Bitcoin Surge blast $170 million in Bear shorts as BTC price targets $ 48k I Myself that's obviously key technical level, everyone's paying attention to it, but even the fact that we're not even there yet, the Bears are seriously seriously hurting short. Traders Betting against higher Bitcoin prices lost some 90 million on Tuesday alone, adding to the 70 million in short liquidations on Monday These may have contributed to the asset strength through the start of the week, a move that has seen it jump to 44k from 39,000 Obviously, with liquidation, it's just a margin call. The Exchange is like wow, you're way blown out so we got to close it.

So literally you have these Bitcoin and also other crypto shorts literally getting margin called. Most of these liquidations have occurred on crypto exchanges binance and okx. Uh, trading volumes have surged 25% in the past week, and open interest has grown to 20.2 billion from 17.2 billion at the start of December. So literally, in the past like month, we've seen all this excitement and enthusiasm coming back to the world of crypto.

Really, it's spurred by various things. Yes, you could talk about the spot Bitcoin ETF You could talk about people getting angry at inflation. You could talk about about the change in monetary policy. You could just talk about the fact that gains be gains because people are excited that they're not getting hurt so much before.

So whatever it is, it all adds up to a lot of bullish momentum and a lot of pain for the shorts. But specifically, I Do want to share this key metric show: Crypt Traders turning to Ether from Bitcoin Now this is a short-term thing and it has to deal with the ratio between Eth and Bitcoin. So let me explain better what I mean here: Key derivative: Market Metrics show that sophisticated Traders are turning their attention to Ether from the recent Market standout Bitcoin hinting at a potential outperformance of Ethereum's native token in the coming weeks. So why are they doing this well? A lot of times things are trade by Pairs and when overperforms, and when underperforms, well, at a certain point you start to switch assuming that there's going to be some sort of Arbitrage there and that's really what they're playing.

Bitcoin has rallied over 60% this quarter loone, while Ether, the supposedly deflationary currency with Bond-like appeal and ESG Compliment label, has lagged big time gaining 35% so still a massive gain, but on a relative basis obviously underperforming Bitcoin The performance Gap is even wider in larger time frames, with Bitcoin boasting 163% gain on the year to date bases the versus of Ether's 89. So even though 89 is quote unquote small, think about it. Relative to the stock Market crypto still clearly dominant, the Futures basis for Ethereum on CME is now trading at a 5% premium to that of Bitcoin now over 20% In addition, we can see that the open interest for Eth on the CME exchange has now started to rise. after lagging the initial move up from Bitcoin, It may be too early to definitely say, but it appears as if trade Fi may be beginning to rotate into the East ETF trade after 2 months.

This is something to continue monitoring for early signs of the market beginning to front run a potential Eth ETF Really, what this is saying is kind of mean: reversion. One overextended on a relative basis, one undere extended on a relative basis? Looking for the ratio to come somewhat into a price parody? Meanwhile, in the options Market listed on Derit Traders have started to lean toward ether calls and Bitcoin puts a call option offers the right not to buy the obligation to purchase blah blah blah. you all know about calls and puts. really, this is just talking about the Arbitrage of one overextended on a relative basis.

Obviously both are up, but comparing the two, one's doing better and they're looking for it to come back into some sort of parody. So will it play out? Maybe maybe not personally. I'm in Bitcoin and Ethereum Anyway, so I just care that the pair of the two keep going up and up and up. I Just wanted to share it to you.

So really, crypto looking good, The crypto winter appears to be officially over. We have a lot of fancy smancy analysts saying hey, might be going all the way up to 100K in 2024. In terms of Bitcoin I hope it happens. Do I definitively know if it will? No, your guess is as good as mine I'm just basically paying the current Trend and then when I take a step back and kind of realize what's going on of really how our Central Bank, the Fed and monetary policy and Infl and the devaluation of the dollar all seems like a complete sham seems as if we need another Safe Haven option beyond the world of physical gold.

So I'm very excited by the world of digital gold and then on the Ethereum front. I Guess the technology aspect of that really does I guess get me somewhat excited. So that's why I Just wanted to say that's your update on the world of crypto and how the Bulls are winning and the Bears are being decimated.