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Systematic Alpha in Digital Assets

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Substack
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Issues9Founded7 months agoLast Issue9 days ago
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Latest Issues

Falling Less Than Tech

It started with debt. September’s inflation came in at 3.7%, the 10-year Treasury yield pushed above 5%, and investors began to ask how the AI build-out would be paid for. CoreWeave fell about 25% in a week as yields on its bonds neared 16%...

9 days ago
1

One Year After the Flush: Bitcoin’s Forced Sellers Are Gone

On the afternoon of Friday 10 October 2025, Bitcoin was trading a few percent below the all-time high of about $126,000 it had set three days earlier. Then a tariff headline landed: 100% on Chinese imports. Within an hour, more than $7 bill...

16 days ago
1

Why Squeezes Stick

Every few months Bitcoin has a day that looks like 19 August 2026: the price jumps several percent in an afternoon, and the exchanges report hundreds of millions of dollars of short positions closed by force. The folk rule for these days is...

23 days ago
2

Twenty Hours

On 18 August 2026 one bitcoin cost $64,725, about where it had been for two and a half months. Three days later it cost $78,338. A month after that, $86,620.

Figure 1. The June crash, the flat stretch, and the two legs up.

Three things di...

a month ago
1

What Actually Happens to Bitcoin Around a Fed Decision

Bitcoin fell to $74,945 on 15 September and ran to $87,364 on the 21st. It’s back around $84,000 now. The Fed hiked on the 16th, but the low came the day before, the same day a Senate crypto bill failed its cloture vote.

Plenty of stories...

a month ago
2

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Authors

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  • Sankalp Shangari

    Macro and Crypto thoughts summarized for you, so that you don’t have to

  • Otis Bullot

    Intern Analyst at Rising Capital

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