To The Moon

USD Synthesis The US Dollar experienced a notable weakening across the board today, driven by an overarching sense of policy uncertainty and shifting expectations regarding the Federal Reserve's interest rate trajectory. The Dollar Index (DXY) retreated toward the 97.50 level as market participants digested an uncharacteristically uneventful State of the Union address by US President Donald Trump. According to MUFG, the lack of aggressive rhetoric regarding new tariffs during the speech suggests that the administration may be facing significant political constraints ahead of the mid-term elections. Trump's focus centered more on domestic priorities, such as lowering prices for consumers and pushing tech companies to shoulder data center costs, rather than escalating trade wars. This pivot

5.1 Crude/Brent Synthesis The global crude oil market experienced significant volatility, heavily influenced by the release of the latest Energy Information Administration (EIA) inventory report and shifting geopolitical landscapes [Argus]. The EIA reported a massive and unexpected 16 million barrel build in US crude oil inventories, pushing total commercial stocks to 435.8 million barrels [Argus]. This build represents the fifth-largest weekly gain on record dating back to 1982, primarily driven by a surge in net imports and a simultaneous drop in domestic refining demand [Argus].  Consequently, US benchmark West Texas Intermediate (WTI) crude fell, widening its discount to Brent [Argus]. Meanwhile, Goldman Sachs (GS) offered a comprehensive oil view, noting that crude prices have mo

Bitcoin (BTC) Historic Uptrend Broken as Market Absorbs Institutional De-Risking and Liquidations Bitcoin experienced a tumultuous trading session, initially dropping below the 64,000 USDT mark with a 1.17 percent decrease, before staging a dramatic intraday recovery. The flagship cryptocurrency surged past the 65,000 USDT and 66,000 USDT benchmarks, ultimately trading around 66,254 USDT to secure a 3.66 percent increase over a rolling 24-hour period. Despite this impressive short-term price strength, the broader technical landscape has sustained significant structural damage. For the first time since October 2023, Bitcoin closed its weekly candle below the critical 200-week exponential moving average of roughly 67,628 dollars. This technical breakdown effectively concludes an 882-day macr

USD The US Dollar (USD) is currently navigating a highly complex macroeconomic and geopolitical landscape, with major financial institutions highlighting a triad of overarching risks. According to recent trading desk commentary [JPM], the primary driver (PC1) for macro markets, including interest rates and the dollar, is the sudden escalation of AI disruption risk. A widely circulated blog post by Citrini Research titled "The 2028 Global Intelligence Crisis" has sparked a massive retail-driven unwind in US equities, directly impacting market sentiment and currency flows [GS]. This tech-driven narrative has completely overshadowed traditional macroeconomic data, which continues to track positively but is largely deemed irrelevant by market participants at this juncture [JPM]. In addition t

5.1 Crude Synthesis The global crude oil market is currently navigating a period of intense crosscurrents, characterized by substantial macroeconomic policy shifts, escalating geopolitical interventions, and surprising domestic inventory builds that are capping outright price momentum. West Texas Intermediate futures edged lower to settle near the $66 per barrel mark, while Brent hovered just below $72 per barrel, as traders digested the implementation of the new US global tariff regime, which officially came into effect at a 10% rate. The market is also heavily scrutinizing the massive 11.4 million barrel surge in United States crude oil inventories reported by the American Petroleum Institute, an unexpected build that vastly exceeded the anticipated 1.85 million barrel increase. Concurre

Bitcoin (BTC) Institutional Adjustments and Shifting Market Dynamics Weigh on Price Action Bitcoin has recently experienced a breakdown below the 64,000 USDT mark, demonstrating a 1.17% decrease before attempting to reclaim higher levels around 65,000 USDT and eventually pushing past the 66,000 USDT benchmark with a 3.66% gain in a 24-hour window. Despite this short-term volatility and intraday recovery, the broader technical structure has sustained severe damage. Bitcoin officially closed a weekly candle below its 200-week exponential moving average (EMA) of approximately $67,628, an event not seen since October 2023. This breakdown signifies the end of an 882-day uptrend, forcing market participants to reassess their positions as the asset navigates the zone between the 200-week EMA and

CTA started cutting on their SP500 longs about 2weeks back, now about 20% of their max length. Copper about 15-20% of max length as well. US bonds/Treasuries increasing positions to about 80% long. Crude/Oil Products near max length.

Bitcoin (BTC) Historic Breakdown Below Key Moving Averages Amid Severe Liquidations Bitcoin's price action has taken a decidedly bearish turn, with the asset dropping below the crucial 64,000 USDT support level to trade at 63,953.89 USDT, representing a severe 5.09% decrease over the past 24 hours. The decline was accompanied by significant technical damage, as Bitcoin closed a weekly candle below its 200-week exponential moving average (EMA) of approximately $67,628 for the first time since October 2023 [Cointelegraph]. This breakdown effectively ends an 882-day uptrend and shifts the market focus toward deeper historical value zones. If this downward trajectory persists through the end of the month, Bitcoin will record its fifth consecutive month of losses, matching the second-longest

USD The US Dollar experienced a volatile week, marked by shifting sentiment around trade policy, geopolitical tensions, and macroeconomic data (GS). Key Market Drivers: A major driver for the US Dollar this week was the Supreme Court's ruling on tariffs, which introduced a fresh injection of policy uncertainty (GS). Following the Supreme Court striking down the bulk of the levies imposed last year under the federal emergency-powers law, the Dollar saw a muted depreciation against a broad range of currencies (GS). The broad Dollar decline likely reflects this policy uncertainty, which can negatively influence investor and business activity (GS). In response to the ruling, President Trump announced plans to impose a 10% stackable global tariff under Section 122 of the Trade Act of 1974, whi

5.1 Crude/Brent Synthesis The global crude oil market is currently navigating a complex environment defined by the intersection of heightened geopolitical risks and underlying structural surpluses, a dynamic that has pushed Brent crude prices decisively above the $71 per barrel threshold. Market sentiment is heavily influenced by escalating tensions between the United States and Iran, prompting a significant recovery in speculative positioning and injecting a substantial risk premium into the energy complex. Goldman Sachs has recently raised its 2026 price forecast, noting that while they maintain an expectation of a persistent global surplus, the anticipated price floor for Brent has been elevated to $60 per barrel by the fourth quarter of 2026. This upward revision is primarily driven by