Crypto is an industry where emotions run high. It remains a mostly-retail space, and volatility creates and destroys fortunes frequently and spectacularly. Accordingly, it is a highly reflexive space—rising prices create gold rushes, and falling prices bring predictions of imminent demise.    Reflexivity guarantees overshoots in both directions, but not all volatility is equal. At Motus, we have always aimed to distinguish between volatility born of macro or sentiment versus

Friends and partners,   While our monthly recaps to investors have become more thorough, we’ve not written in depth more broadly for a...

Summary   The confluence of crypto institutionalization, rising global liquidity, removal of BTC supply overhangs, and election clarity provides an attractive setup for year end and beyond. Intro   In August 2023 we authored the “ The Start of the Next Cycle ”, highlighting the number of factors coming together that would kickstart the next rally in crypto markets. From September 2023 through March 2024, Bitcoin rallied 175% (making a new all-time-high), and alternatives or “

Last December, in a piece titled “Crypto Risk vs. Reward”, we shared our view that the start of 2023 would prove to be a good entry...

During a legendary performance in HBO’s “True Detective,” Matthew McConaughey’s character unsettlingly states that “Time is a flat...

Capital allocation within crypto is about to change, and the consequences are underappreciated. The current institutional landscape is...