Short squeeze incoming?
In today's report, we examine the potential short squeeze setup in perps, with multiple metrics pointing toward bearish trades becoming crowded.
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Bitcoin weathers a summer storm, ETH lags
Bitcoin (2%) faced around 190k BTC of sell pressure throughout the summer from Mt. Gox, Genesis, the German government, and the U.S. government. Even with the global market shakedown of August 5 sprinkled in, four-month BTC returns sit at 0%, a solid sign of latent strength and demand. ETH (-2%) continues to underperform as ETF flows reign stagnant. However, if ETH ETF flows are to mirror the path of BTC ETFs, flows should pick up shortly.Spot and volatility normalize after a wild start to August
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