I’d be looking to buy back below 100K or above 110K if the board changes, not very excited otherwise.

ETH has +800K coins added to the OI since 2550$ area… Looks especially bad if we don’t go up to make those fresh positions feel comfortable. Will be all eyes for a flush on it. Has big potential

Looks a bit healthier, I will just sit in spot again from 105K area. Not leveraging anything, simply closed my shorts and chilling.

My current plan

That’s a good dip. I’m fully deployed and started some small long attempts from 103.5K… I will not get into specifics of trades, but I think generally this is a fat dip, with a huge OI flush on BTC (almost 30K coins since ATH). If we’re bullish this is where to sack up and start buying.

Nothing much to add, happy with my 103K buys. BTC looks healthy, with most perps leverage flushed out on the dip. Patience is required but my general intuition says it has room to go up from there.

Wouldn't want to be long any other coin than BTC. ETH looks over-crowded again with OI nearing ATH. It seems that the dilution trend continues to hit altcoins generally. It would take a very high alfa for me to trade any of them on the long side. Expect under-performance VS. BTC as the new norm.

While we're witnessing some unusually large inflows on ETH, price is down 6%. Meanwhile, open interest is at all time highs, way higher than the previous price ATHs (see 2nd picture).

Meanwhile, bitcoin looks amazing, OI never replenished since the dip, purely spot driven. I think BTC will once again massively outperform, and ETH has the potential to flush down-wards on the first weakness bump we get.

Took the leverage off of my btc longs near 108k, fully allocated to spot still. Just going to ride spot and enjoy summer. Cheers to those who bought the dip between 101-103k

Now is the moment where we wait and see if it catches a trend (ATH and beyond) or back to ranging.

Looks like ETH is getting over-heated again. The cause seems to be the Recent SEC thread during Western session, which catalyzed this price move. It was generally good for DEFI, self-custody laws, and proof of stake, which can hint at a nearby staking ETF. About 280k worth of mostly what I suspect to be aggressive longs were added to the open interest, since $2640 area. Would start to look bad if it can't sustain and push above 2.7k and allow those positions to breathe. Could flush back down.

To me it looks like some relatively known catalyst leading to FOMO. It's a dangerous spot to be levered long ETH.

BTC is a different story, OI is still far from elevated, and it seems to me like it's being mostly bid by treasury companies. The most recent Saylor buy was for 1000BTC approximatedly. Meanwhile, the treasury race seems to be accelerating among other companies: https://x.com/btcNLNico/status/1931084738288328836

BTC flushed a large chunk of OI, looks decent for longs around 104k. Re-deployed and starting long attempts although I won't share specifics. IMO this is likely to be the dip if we're going to have a leg higher.

I think this fear driven dip is as good a flush as we could've hoped for. Will hold my 104K longs into the coming week. There was large liquidations below 105k and the biggest OI deleveraging we've seen in this 100k-110k range.

I think my 104k longs will look GOATed in a week's time unless global tensions accelerate. It's more likely that we've seen the worst of it so worth taking my chances.