'Big Shorts', Bitcoin, & Black Gold Bid As Yield Curve Bear-Steepens


For the second day in a row, the biggest shorts, crypto, and oil prices ripped while the rest of the market wistfully drifted unphased by more dismal data.

'Most Shorted' stocks (yes there is an index that measures them!) were squeezed hard once again... up 9% from Friday's close...

Source: Bloomberg

And Bitcoin ripped once again... topping USD$57,000 for the first time since Nov 2021...

Source: Bloomberg

Thanks to continued inflows...

Source: Bloomberg

And oil prices jumped once again... to their highest close since early November...

Source: Bloomberg

Finally, crypto's total market cap is back above USD$2 trillion for the first time in two years...

Source: Bloomberg

No wonder 'unknown' officials have started to spread rumors that they fear bitcoin-mining could put the power grid in jeopardy (now that the "only terrorists and money-launderers use crypto" narrative has exploded)! How f**king pathetic and predictable are these people!!!

I look forward to hearing how crypto is in a bubble... but NVDA isn't...

Source: Bloomberg

It's different, of course.

Happy Wednesday!

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