Constructing a Portfolio

Hello readers,

At the time of writing, BTC is down 29% from its all-time high. ETH is down 39%. SOL is down 55%. And HYPE is down 63%.

We’re now three + months out from BTC’s all-time high. Key bull market support zones have been broken. Long-term holders continue to exit the market. Social interest is at a six-year low. And demand for BTC and other crypto assets from new market entrants remains impaired.

While some of you may disagree, the probability that ‘26 is a bear market year for crypto remains our base case.

That’s why we’re doing the work now. So that we can be greedy when others are fearful later.

To that end, this week we are providing an update on Portfolio Construction while sharing some learnings over the years.

Disclaimer: Views expressed are the author’s personal views and should not be relied upon as investment advice.

Let’s go.