Markets, macro and crypto — explained right
The rigor of a major outlet, the tone of a smart friend. Zero fluff, zero neckties.
The blobs on the book are not all the same. One is a target, the other is a wall.
How to read a liquidity heatmap: why a long trace is a target and a fresh one is a barrier, and what…
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What really moves the price of bitcoin: flows, derivatives, liquidations
What moves the price of bitcoin: ETF flows, derivatives trading almost four times the spot volume on exchanges, and cascading liquidations.
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Stablecoins: who guarantees what, and what happens the day it breaks
What is behind a stablecoin, who checks it, and why redemption at one dollar, for almost everybody, does not exist. With the…
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It was not a move. It was the start of a cycle.
The first Fed hike in three years is not a move, it is a cycle. What the dot plot says, why the…
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Bitcoin and ethereum are not two versions of the same thing
Why bitcoin and ethereum are two different jobs: who decides how much gets created, what it depends on, and what breaks the…
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Before I open a chart I ask myself four questions
The routine I use to prepare the week in ten minutes: COT positioning, macro calendar, gamma and levels. Four questions, in this…
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Friday’s CPI: the number that decides the Fed is not the headline
US August CPI on Friday at 8:30 am ET: consensus 3.3% year on year, hot monthly print. The number that weighs on…
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The value area is not 70%. It is a knob.
The VPOC is a measurement, the value area is a setting. Where the 70% comes from, how the area is really built,…
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The exchange: where you buy, and what happens if it goes down
What an exchange really is: a company with a database, not the blockchain. How the book works, what happens to your money…
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The volume you are looking at is not volume (and it is not useless either)
On forex and CFDs the volume column counts ticks, not contracts. What it really measures, how good a proxy it is, and…
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Keys and wallets: what you actually own
What is really inside a wallet, what the twelve word seed actually is, what not your keys not your coins means, and…
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CVD does not tell you who is buying. It tells you who is in a hurry.
Delta and CVD explained properly: what they actually measure, the three different reasons a divergence appears, and why the third one is…
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