| Ticker | Direction | Speaker | Thesis | Time |
|---|---|---|---|---|
| LONG |
Jonah Van Bourg
Head of Trading, Cumberland |
Uranium (URA) is at $53 and Rare Earths (REMX) at $85. These assets plummeted alongside Gold and Silver during the recent crash. This is a "correlation failure." Retail and algos treated these assets as high-beta plays on Gold. When Gold crashed, these were sold indiscriminately. However, their fundamentals (nuclear energy ramp-up) are uncorrelated to Gold's monetary premium. The sell-off is technical, not fundamental. Buy the "unfairly dragged around" assets. The "Mega Trend" (nuclear/critical minerals) timeline exceeds the short-term volatility of the metals crash. Continued broad market "risk-off" flows could suppress all commodities regardless of fundamentals. | 19:27 | |
| LONG |
Avi Felman
Principal at GoldenTree / Crypto Portfolio Manager |
Bitcoin retraced from highs to the $74k-$78k range. Avi states, "This is what you wait for... the risk/reward on this trade is great." The $74k level represents a critical support zone (previous "original buy zone"). The market is currently in a "range" structure; buying at the bottom of the range ($74k) with a stop loss just below allows for a high R/R trade targeting a bounce to $90k-$92k. Buy spot or long perps in the $74k-$78k zone. A sustained break below $74k invalidates the range thesis and signals a deeper bear market. | 1:07 | |
| AVOID |
Jonah Van Bourg
Head of Trading, Cumberland |
Gold fell ~22% in weeks; Silver crashed harder. Volatility has exploded. Second-Order Thinking regarding CTAs (Commodity Trading Advisors). CTAs target specific volatility levels. When Gold was slow/steady, they sized up massively. Now that volatility has spiked, their risk models force them to sell to reduce variance. Jonah estimates they are only "25% of the way" through their forced selling. Do not catch the falling knife. The "unwind" will take weeks as quants systematically reduce exposure. Central banks could step in aggressively to buy the dip earlier than expected. | 11:06 | |
| LONG |
Jonah Van Bourg
Head of Trading, Cumberland |
Hyperliquid is trading ~$31 (up 50% recently) while the rest of the market nukes. Volumes on the exchange are hitting billions, rivaling traditional finance venues. "Usage is King." In a bear/choppy market, revenue-generating infrastructure outperforms speculative assets. Hyperliquid is capturing market share from both crypto (CEXs) and TradFi (commodities/stocks on-chain). Jonah explicitly mentions selling "out of the money" Bitcoin tax lots to rotate into HYPE. High conviction Long. It is viewed as the "Google/Coinbase" of this cycle—a product with genuine product-market fit regardless of asset prices. Regulatory intervention (though mitigated if Trump administration is lenient) or competition from other DEXs. | 39:31 | |
| AVOID |
Avi Felman
Principal at GoldenTree / Crypto Portfolio Manager |
"ETH really got absolutely nuked on high volume." Unlike Bitcoin (which has a clear support structure at $74k) or Solana (defending $100), Ethereum is showing relative weakness and technical breakdown without clear buyer interest. Capital is better deployed in BTC (safety) or HYPE (growth). An unexpected rotation back into L1s could squeeze shorts. | 3:01 |