Post #4357649

@Kjaerulv@mastodon.social It feels now like the run-up to Bitcoin $120k in 2024–5. Lots of seemingly-random volatility that somehow always results in bigger fish getting fatter by gobbling up some smaller fish, like Citadel grabbing Aschenbrenner's AI-bro fund mentioned in the article. Then after a few days everyone just goes back to waiting for the number go up and forgets that it failed to do so for a while because surely the fundamentals are sound. FT had an article about the same fund a few days ago and some of the interviews had pretty incredible copium levels. Actual quote: “We were wondering for three weeks who was driving […] that momentum sell-off,” [HSBC analyst] Kettner said […]. “Now we’ve found a narrative, and we can move on.”