CME has raised the margin requirements for precious metals futures again. Looking at this stance, the exchange really seems to want to cool down this market.

Once a market is artificially cooled down, the funds that run out need to go somewhere. This is not a false issue—it will truly flow into risk assets.

Back to the current situation, what’s interesting about risk assets? It just happens to be those that are most neglected and have the fewest takers. Is $BTC now considered one? Judging by valuation and market enthusiasm, it definitely has that flavor.

Next year is coming. Don’t ask for too much, just want to see a strong start to the year. That’s really not too much to ask.