Welcome to the weekly Ouroboros Flows and Positioning Chartbook, a weekly compendium dedicated to providing a balanced view of the most noteworthy Flows and Positioning charts. None of the following is financial advice.
Global liquidity continues to tick up, supporting crypto prices. Crypto is also entering a high risk-on season as we've observed more aggressive rotations upper up into the risk curve - smaller alt L1s and meme coins within those chains. We are dip buyers but continue to be cautious when it comes to chasing this rally, preferring to stick to coins with identifiable catalysts and/or improving metrics such as Stader (SD), Swise (SWISE) and FXS (FraxChain launch).
Global liquidity continues to tick up, supportive of crypto's current upward move.
BTC like to continue uptrend as long as global liquidity continues to tick up.
Alts still testing the post-LUNA bounce resistance. Needs to firmly break above to cement alt szn.
Alts making new high post BTC.D's new high, in-line with our expectations.
ETH continues to trade heavy despite the alt szn suggesting how consensus ETH is at the moment. Seems tough for ETH to catch a bid,
The recent bid has been spot driven it seems.
Similarly in ETH.
While there has been buyers in BTC, sellers are also present. We continue to see rising flows into exchanges (BTC being sent to exchanges to be sold).
Spot flows quiet in ETH.
TradFi positioning in BTC continues to be heavy. Elevated CME OI and basis.
Similar picture in ETH.
BTC options continue to be expensive. No strong bias in skew. Skew has been rising (more puts being bought than calls) but its still at the mid of its range.
Similar picture in ETH.
Kingfisher liquidation cluster is on the upside at the $43,400 level.
Kingfisher liquidation cluster is on both the upside and downside at $2,340 and $2,090 levels.
Stablecoin flows (rising stablecoin market cap w low stablecoin dominance) indicates that the risk-on in crypto s alive and strong.
