1000x "Liberation Day" Livestream

Watch on YouTube ↗  |  April 02, 2025 at 23:25  |  38:41  |  1000x Podcast
Speakers
Avi Felman — Principal, GoldenTree Asset Management
Jonah Van Bourg — Head of Trading, Cumberland / ex-Vitol

Summary

The hosts discuss Trump's 'Liberation Day' tariffs, the sharp market sell-off, and whether the move is a temporary flush or the start of a deeper recession. Avi is cautious and tactical, seeing more downside for NASDAQ, S&P 500, BTC, ETH, and altcoins, while favoring RWA crypto and eventually buying BTC lower. Jonah is more bullish, arguing the tariff hit is intentional and can be unwound, buying BTC on a flush to $75K, favoring S&P at 5,000, and owning physical gold.

  • Tariffs were announced above expectations, with China all-in tariff rates discussed above 50%.
  • Hosts debate the consumption hit, recession odds, and a possible tax-cut response.
  • Avi sees short-term downside in NASDAQ, S&P 500, BTC, ETH, and altcoins.
  • Avi likes select RWA crypto and would buy BTC below $80K.
  • Jonah expects no recession and would buy BTC at $75K and S&P 500 at 5,000.
  • Jonah owns physical gold as a one-way store-of-value trade.
  • Both mention trading extremes, portfolio puts, and WIF as a short bellwether.
Ideas
Avi Felman Principal, GoldenTree Asset Management 2:30
NASDAQ may fall another 5-10%.
Avi says momentum is down and the market is not at value levels because equities are selling off and altcoins are bleeding; NASDAQ is already down about 15% from highs and could fall another 5-10%.
QQQ MED
Avi Felman Principal, GoldenTree Asset Management 2:39
Buy BTC below $80K midterm.
Avi thinks BTC below $80K is a good midterm buy; he is not a buyer at $83K but would buy at $78K, and later summarizes bidding Bitcoin when it is collapsing, preferably between $73K and $78K, then waiting. He views the sell-off as a flush and notes BTC relative strength, while still wanting lower levels.
BTC HIGH
Jonah Van Bourg Head of Trading, Cumberland / ex-Vitol 3:25
Buy BTC flush near $75K.
Jonah says he has been recommending Bitcoin rather than other alts, thinks the sell-off may be the flush that marks the bottom, and says if Bitcoin flushes to $75K it would be crazy not to buy.
BTC HIGH
Avi Felman Principal, GoldenTree Asset Management 7:11
Short altcoins in inverse alt season.
Avi argues that outside select RWA names, altcoins are bleeding and have no buyers until Bitcoin gets back above $90K and VIX falls; he calls it an inverse alt season, says they can bounce but are straight-line lower, and later says short altcoins with confidence because many go to zero.
ALTCOINS HIGH
Avi Felman Principal, GoldenTree Asset Management 8:04
Long RWA crypto basket vs ETH.
Avi says he has an RWA basket including Pendle, Plume, and Curve, is waiting for good levels to add, and would add it against ETH because he expects these RWA names to gain traction over the next year due to coming regulatory clarity.
RWA crypto basket PLUME CRV PENDLE MED
Avi Felman Principal, GoldenTree Asset Management 21:52
Short ETH toward $1,500.
Avi says ETH is cursed, has no buyers while BTC is below $90K and VIX is elevated, and he would short ETH targeting $1,500 or lower, possibly triple digits; even if BTC holds its low but sells off to $77K, he thinks ETH trades at $1,500.
ETH HIGH
Avi Felman Principal, GoldenTree Asset Management 29:58
Short S&P 500 toward 5,000.
In discussing a fresh short on S&P, Avi says the trade is betting on a touch of 5,000; he expects fears to be frontloaded, a flush by Monday, and then a rally, so the short is tactical.
SPY MED
Jonah Van Bourg Head of Trading, Cumberland / ex-Vitol 30:57
Buy S&P 500 at 5,000 gift.
Jonah does not expect a recession because the tariff hit is intentional, man-made, and can be unwound; he says SPX touching 5,000 would be a gift, emphasizes the second derivative of news, and says he has a bullish bent over his 20-year career.
SPY HIGH
Jonah Van Bourg Head of Trading, Cumberland / ex-Vitol 34:32
Own physical gold as insurance.
Jonah says gold is a one-way train and a $22T asset, is glad he owns a ton of physical gold, and views it as a store of value and insurance amid the tariff turmoil.
GLD MED
Avi Felman Principal, GoldenTree Asset Management 37:02
Short WIF as death spiral.
Avi calls WIF his favorite bellwether for shorts and the smoothest death spiral; it was down 12% and he had shorted it at $120, closed at $1, and reset the WIF short because he likes having the position.
WIF HIGH
Up Next
33:37
Who Will Win Canada’s Election? Top Pollster Reveals | Darrell Bricker
The David Lin Report · Apr 02
25:38
Gold Hits $3,100; Something Even Bigger Is About To Happen | Gwen Preston
The David Lin Report · Apr 01
21:15
Stock Market Crash, ‘Likely Recession’ After April 2 | Anthony Scaramucci
The David Lin Report · Mar 31
5:14
China is building its own Nvidia – and US trade policy is forcing their hand!
All-In Podcast · Mar 31
32:25
Few Weeks Away From Financial Crisis; Bear Market In 'Striking Distance' | Chris Vermeulen
The David Lin Report · Mar 30

This 1000x Podcast video, published April 02, 2025, features Avi Felman, Jonah Van Bourg discussing QQQ, BTC, ALTCOINS, RWA crypto basket, PLUME, CRV, PENDLE, ETH, SPY, GLD, WIF. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Avi Felman, Jonah Van Bourg  · Tickers: QQQ, BTC, ALTCOINS, RWA crypto basket, PLUME, CRV, PENDLE, ETH, SPY, GLD, WIF