Markets
Top Trader Is Long Bitcoin, Ethereum, Short Litecoin, Cardano… And Thinks Shiba Inu’s Time Has Passed
Cryptography Researcher Negotiate the flow On thursday offered trading ideas to navigate the current sideways price action in the crypto markets.
What happened: Trade The Flow suggested that trading long/short pairs could be an effective strategy in these choppy conditions and offered several trading ideas.
Among his suggestions were long positions in Bitcoin BTC/USD and Ethereum ETH/USD, paired with short positions in Litecoin LTC/USD and Cardano ADA/USD, respectively. He argued that BTC and ETH are leading the market and have potential catalysts ahead, such as the Ethereum ETFwhile LTC and ADA lack network effect and real activity.
Among its many strategieshe suggests longing Pendle PENDLE/USD and Short Selling Ondo Finance ONDO/USD. While both have similar narratives, there are major discrepancies in their protocol metrics.
In the universe of meme coins, it includes longing Pepe PEPE/USD and short selling Shiba Inu SHIB/USD, as the former is the most established meme in crypto culture that continues to draw a lot of market attention. Shiba Inu’s time has passed, in his opinion.
Meanwhile, regarding the PEPE/ETH pair, the trader stated: “If you see PEPE as a high beta to ETH, then this pair trade may soften your downside a bit if the market is bearish, but you still have a lot of upside potential if it goes up.”
Why this matters: Trade The Flow’s insights provide a unique perspective on current market conditions and potential trading strategies. Their suggestions for long/short pair trading can help traders navigate market volatility and potentially generate profits even in a bear market.
However, as with any trading strategy, traders need to do their research and consider their risk tolerance before making any trades. As Trade The Flow themselves noted, “There are endless pair trade combinations, and this is just a glimpse of some of them.”
The trader added that these types of trades allow you to be more market neutral and smooth out profits and losses to the downside, as well as build a larger position.
What is the next: The influence of Bitcoin as an institutional asset class expected to be thoroughly explored at Benzinga’s next event Future of Digital Assets event on November 19th.
This content was produced in part with the help of AI tools and was reviewed and published by Benzinga editors.
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