Invictus Capital: Weekly Wrap 21.05
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The crypto markets took a tumble this week, with $8 billion in Bitcoin liquidations alone. This was symptomatic of the market’s over-leveraged state, positioning for a bounce around $40,000 that never materialised. Though no single event can be blamed, market jitters were compounded by a misleading article from Reuters claiming that China banned BTC (which was in fact just a reiteration of a previous rule), along with the dirty energy debate sparked by Elon Musk, and a flurry of regulatory non-stories from the US. While over-leveraged traders were rinsed from their positions, dip buyers stepped in to take the opportunity, which included C10 and IBA (the latter is now showing over 20% outperformance over Bitcoin for the month). The market soon rebounded from Bitcoin’s sub-$30,000 lows, reclaiming the $40,000 level.
Unlike the battered and beaten crypto markets, traditional financial markets fared relatively well with global equities coming close to erasing last week’s losses, despite newsflow that on balance could have been expected to induce risk-off sentiment.
The major market-negative news came in the release of the Federal Reserve’s minutes from their most recent April decision. Despite repeating the same dovish message in April that elevated inflation would be transitory and that low interest rates would persist for the medium term, the minutes revealed a hawkish shift amongst some members of the committee and make the potential for rate hikes before 2023 appear less far-fetched. This drove a brief stint of bond market volatility but US bond yields unexpectedly edged down for the week, with the dollar finding itself under pressure as a result. Lower yields and a weaker dollar allowed the gold rally of recent weeks to continue, with the yellow metal again threatening the $1,900 level.
Whilst the crypto market’s correlation to traditional markets in recent months has been inconsistent, the crypto sell-off appeared to lead equities down on Wednesday. If the Fed’s messaging continues to shift in a hawkish direction, we can expect this downside correlation to again rear its ugly head in the future.
Indicators (14 May — 21 May)
- Invictus Margin Lending (IML): $1.24, +11.95% (weekly compound annualized rate)
- Invictus Gold Plus (IGP): $1.14, +2.10%
- Emerging Markets Solar (EMS): $1.27, +0.22%
- Crypto10 Hedged (C10): $6.59, -18.40%
- Crypto20 (C20): $4.02, -24,35%
- Invictus Bitcoin Alpha (IBA): $2.63, +4.72%
- Invictus Hyperion Fund (IHF): $0.248 (Updated Q1–21)
- BTC: $40,507.57, -18.22%
- ETH: $2,768.36, -25.66%
- GOLD: $1,874.28, +2.66%
- S&P500: 4,164.25, +1.26%
Zero fees on swapping between Invictus funds this month via the OTC desk
The OTC desk is waiving all fees for swaps between Invictus funds this month.
This is a great opportunity for investors to diversify their Invictus portfolio to protect capital gains — considerations should especially be given to C10 and IML.
Find out how it works here.
Invictus Podcast — Q1 Quarterly Report 2021 — Roundtable
Join our analysts in our first Roundtable discussion as they discuss Invictus Capital’s incredible performance over Q1 2021 and answer questions from our Discord community.
Watch the video here.
Binance Smart Chain $10,000 giveaway
We are welcoming new and current investors to take part in our exciting competition which celebrates the newly launched Binance Smart Chain (BSC) feature. You are automatically entered into the competition by using BSC as an investment method. Ten lucky investors will be randomly selected to win their share of an incredible $10,000!
Please note that the Invictus Wallet does not support any Binance Chain assets at this time, you can only send BUSDT/BUSD to your unique deposit addresses accessed via the crypto transfer investment method. Binance Chain tokens sent to your Invictus Wallet may be lost.
- The competition is open to new and existing investors
- Invest $100 USD or more into one of the Invictus Capital funds
- Investments must be made using the Binance Smart Chain (BSC)
- Investments must be made via our platform during the period of the competition, not via exchanges, and must be held until the end of the competition
- The competition starts 28th April 2021 at 23:59 UTC and closes on 31st May 2021 at 23:59 UTC
- Every different fund you invest in counts as 1 entry. Maximum of 6 entries per person
- Invictus reserves the right to amend the competition rules at any time without prior notice.
Other News & Links
- Invictus in the Press/News
1. ICAP 101: Earn additional gains on Invictus funds
2. La prochaine fois, évitez le “bain de sang” : Invictus Capital et sa solution pour se protéger des corrections cryptos — Veuillez rejoindre notre communauté francophone ici !
3. Watch Nathan Sloan’s recent video to learn more about why a #crypto index fund like C20 is a better investment option!
- Ahead of jobs miss, some Fed officials edged towards ‘taper’ debate
- Syntropy News
1. Syntropy continues to achieve impressive milestones. Join them for exciting events, launches, surprises and more on their ongoing 60 Days of Growth. Follow them on Twitter for updates!
2. Syntropy CS:GO Tournament registrations are now open! Register to compete for $25k in prizes and play on dedicated @DatHostgaming servers armed with Syntropy Agent software.
3. Syntropy Windows Application Launches Today
- Crypto exchanges FTX, BitMEX move to offset carbon emissions through donations
- Quantfury News
1. Quantfury (Hyperion portfolio company), has officially announced the listing of their QTF token on Bitfinex, a global tier-1 exchange. Further details will be announced by Bitfinex in the coming week regarding exact dates. This listing will be a true inflection point for the company and should see significant growth in its user base. Well done to Quantfury and the team!
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