Crypto Markets
BTC is trading on low volumes with tentative breakouts (higher or lower) from the 25.8k - 26.8k prevalent trading range being very short-lived. Our risk management indicators still warrant caution (see risk dashboard here). So far this has been the optimal risk strategy: below is the out-of-sample live performance of BTC buy-and-hold vs the same strategy overlaid with the BTC call-put spread risk-on / risk-off signal.
Crypto has been trading uncorrelated with equities recently, the latter having benefited from the growing soft landing narrative among central bankers and their reluctance to continue...