Well, I'm feeling pretty comfortable with my BTC holdings (now around 75% BTC / 25% stables following the pump). I'm not sure if I missed the mark on longing the bottom; it seems like Saylor has been hammering. I expect Saylor to announce his recent buys on Monday around the US open. My gut feeling is that all this forced buying on a weekend had a larger impact than it should've, and we'll see dips this week. I can evaluate with more context after the US ETF trading session.

I understand the FOMO when prices surge violently, amplified by social media where opinions fly freely. Winners are always louder, while losers stay quiet, which can make you feel inadequate and lead to mistakes. My advice: stay calm and don’t act on FOMO. Make a plan. I’m comfortable keeping most of my net worth in BTC, with allocations ranging from 50-100% based on my bullishness, regardless of short-term biases. The upper range gives me flexibility to adjust my portfolio, and I only use leverage for high-conviction opportunities. Currently, no leveraged trade feels obvious to me. Practice stillness, and don’t let social media force-feed you biases.

My plan is to stay on the sidelines until late September or early October, then go long for the Q4 rally. This aligns with historical stock market performance, and there’s chatter about potential rate cuts next month, possibly with a new Fed chairman on the horizon. Lower rates should boost TCOs, which are already raising absurd amounts of money. So, I’m basically doing nothing until it’s time to go all-in and aim to outperform. Staying in spot positions until late September. Cheers.

Formed a team for Bybit WSOT 2025: https://partner.bybit.com/b/wsot25salsa

Aiming for degen ROI or bust, no middle ground. Will read through the rules and form a strategy but most likely it will be along the lines of utilizing the minimum deposit possible and aim for high ROI.

So my strategy for WSOT is simple: load the account with the bare minimum (100$), and aim for a team ROI% win. I might hire friends and give them subaccounts to also boost our team odds. Essentially, turning 100$ into a large multiplier is exponentially easier than turning 1000$ or 100000$ into hilarious multiples more.

Not much to say about the market, I am still in my 70% BTC / 30% stable coins farm. Seems like ETH got a drive, while BTC didn't do much and flushed. Still plan to stick to the plan and look for longs around late September. Will live-stream later today, drop your questions in this X thread: https://x.com/SalsaTekila/status/1959786522154250300

for those who wish to watch the livestream replay, can find it here: https://x.com/Bybit_Official/status/1959897861266837527

Recently I have been passively running algos on GRVT to farm points towards TGE (Q1 2026), but also mainly because I know they will implement two things in which I have super high interest later this month. 1) Huge APY (I think 10%) for collateral kept in perps wallet (can use for trades at any time or not trade at all) and 2) A market making vault targeting high APY % that will inevitably be capped (I suspect more points mean larger deposits, like Lighter). The points farm is just the cherry on top towards TGE. The exchange itself is decent, and doesn't show liquidation prices due to their privacy layer. If they manage to grow retail volume and catch some steam, it might be a great early play as they are still tiny. I do have a ref-link: https://grvt.io/exchange/sign-up?ref=EO9X3GP

In terms of market views, I haven't been very active. I think it's the time to be patient. WLFI acted as a drain for 5bln$ from the crypto market to Trump's pockets, which could explain the recent altcoins' weakness. BTC itself has been pretty resilient in the face of an old whale selling 50K+ coins. The old whale still has 48K BTC, which is less than half of the initial stack to sell. I think it's late to sell or short BTC, but September is statistically tricky. So it's wise to err on the side of caution until late September, at which point I'll look to go long into Q4 October+.

Throwing it out there in case it's of use to any of you: If you use Bluefin, they allow referrers to give back commission rakebacks to those who use their affiliate link. I originally set it up for a friend, but it turns out the platform is quite popular. AFAIK, I give the highest rakebacks among all ref links currently (40%): https://trade.bluefin.io/affiliate/Salsa

Gold and the S&P are at all-time highs, while crypto has been having a speed bump. ETH looks particularly heavy. I still hold my spot BTC bag and remind myself that the market has changed and takes more time to move. Small, fast-acting speculators do not dictate price for those trillion-dollar asset classes. In that spirit, I've been sitting on my hands, sticking to 70% of my portfolio in BTC, farming yields and DEXes with the remains. I believe the next wave will be BTC-driven. ETH not only had 10 billion+ of inflows from Tom Lee, but also a Chinese whale recently sold $4 bln worth of BTC to buy ETH, and BTC hasn't budged much, while ETH grinded down. This is a bad omen for ETHBTC. The obvious asset to be long is BTC if wanting to be long anything in crypto. If we dip more, I will add to my bag later in the month. If we go up, great.

Congratulations to those who took the trade! I exited the leveraged portion after a +30% move in my favor. I'll hold a spot bag and stay out of leverage for a while, at least until the FOMC is behind us.

For the record, I think $PUMP is still wildly undervalued, so I kept a spot bag that's about 5% of my portfolio. If it grows multiples, it could become 10-25% of my portfolio, and I'm comfortable holding that through the volatility. Leverage is a double-edged sword, and I can't ignore the sell-off on supposedly bullish news after multiple days of rallying. Smells like insiders cashing out. I'll either buy more after the FOMC and the airdrop or stay comfy in spot. Cheers.

Actually, after thinking it through, I decided to close the short BTC leg while it was in profit and keep the small ETH long (entered at 45xx). It's small enough that I won't get liquidated even with crazy volatility, so I can sleep easy. I'm not taking any sizeable bets into the FOMC, and September isn't over yet. That said, I expect ETH to be trading above $5500 and BTC above $130K more than 50% of the time by the end of November, so it's hard to justify not being long a bit. I'll add on a dip post-FOMC, or stay comfortable with the small size if there's no dip.

Keep in mind, in about 5 weeks on October 23, the SEC has the deadline for the ETH staking ETF decision. If approved, it's a massive tailwind. I'd recommend marking your calendars and staying tuned. It's probably the most important catalyst for ETH since forever.

Personally, I use a piece of software called CoinRoutes, which is more sophisticated than those native functions. That being said, Bybit recently improved their order entry tools, and I highly recommend getting familiar with them. Their iceberg orders can be particularly handy for accumulating or selling large sizes of less liquid positions without moving the market—some friends use them frequently. If you trade nine figures' worth of volume per month, feel free to DM me and I'll introduce you to CoinRoutes; otherwise, those functionalities are probably better than the simplistic API algos from prime brokers like Insilico or other popular ones. https://x.com/SalsaTekila/status/1968122240014409800

In the spirit of curiosity, I've recently come across Backpack. They have a solid product and a points system for those anticipating a crispy airdrop. Due to popular demand, I created a referral link and set the commission to be given back to all users (35% rakeback if you use my link). This is my gift to you; go check it out: backpack.exchange/join/Salsa