The Trader Top 9: JPMorgan Launches JPM Coin & MicroStrategy Doubles Down

Welcome back to another Trader Top 9. Let's dive right in.

9. The week kicked off with yet another high profile DeFi hack. DeFi has some extremely interesting possibilities, however it’s still really early. Although we don’t necessarily agree with the language, we understand this frustration.

8. Still, really the story at the beginning of the week was bitcoin, which surged to a new high - even encroaching on last year’s high.

7. Some people are focused on whether bitcoin is sucking liquidity from alts

6. Others are looking at how ETH fairs relative to BTC in a new bull run

5. Still others are looking at how Bitcoin compares to Gold

4. And of course, still others are contextualizing recent news such as JPMorgan’s commercial launch of their own digital currency, JPM Coin

3. And it isn’t only JP Morgan that has changed its tune…

2. One thing everything is doing is watching the conviction of large holders do nothing but increase

Microstrategy as a whole was also doubling down

1. As things keep heating up, it’s worth remembering how fast things can change, and that conviction often matters most when its the hardest