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On December 13th 2023, Amberdata’s Director of Derivatives Greg Magadini, authored an opinion piece for CoinDesk's institutionally-focused Crypto Long/Short Newsletter.

An often-published thought leader, Greg is best known as the co-founder of Genesis Volatility (later acquired by Amberdata). He began his career as a proprietary trader for DRW and Chopper Trading in Chicago. Greg is a CFA and has nearly 15 years of options trading experience and has been active in the cryptocurrency space for nearly 10 years.

His CoinDesk article focuses on how Bitcoin has recently achieved new highs in 2023, but he looks to answer some lingering questions: Is the market over-extended, and have we reached the pinnacle of enthusiasm? 

Greg shows how we can gain insight into these questions by examining the positioning of the crypto options market. He begins with the most apt comparison to Q4 2023 which is the rally we saw in Q4 2020. In fact, by superimposing BTC returns for both years, he identifies a strikingly similar narrative unfolding.

Read the article HERE.

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