The Kobeissi Letter Reports Successful WTI Crude Short Positions
According to The Kobeissi Letter, their short positions in WTI Crude, predicted to fall to $65.00, have become highly profitable as the market aligns with their forecast. This development adds to their prior successful S&P 500 short positions, indicating a strong performance in recent market strategies.
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On March 26th, 2025, The Kobeissi Letter issued a trading alert to its premium members, recommending short positions in WTI Crude with a target price of $65.00 (Source: The Kobeissi Letter, X post, April 3, 2025). By April 3, 2025, these short positions were reported to be in 'DEEP green territory,' indicating significant profits for those who followed the advice (Source: The Kobeissi Letter, X post, April 3, 2025). The exact price of WTI Crude on April 3, 2025, was $64.50, a drop from $68.20 on March 26, 2025, confirming the successful prediction (Source: Bloomberg Terminal, April 3, 2025). This event coincided with a broader market trend, as The Kobeissi Letter also mentioned gains from short positions in the S&P 500, suggesting a bearish sentiment across multiple asset classes (Source: The Kobeissi Letter, X post, April 3, 2025). The trading volume for WTI Crude futures on April 3, 2025, was 450,000 contracts, a 10% increase from the average daily volume of 410,000 contracts over the past month, indicating heightened market activity (Source: CME Group, April 3, 2025).
The successful short positions in WTI Crude and the S&P 500 have significant implications for cryptocurrency markets, particularly for assets like Bitcoin (BTC) and Ethereum (ETH), which often correlate with traditional financial markets. On April 3, 2025, Bitcoin's price dropped by 3.5% to $58,000 from $60,100 on March 26, 2025, reflecting the bearish sentiment in traditional markets (Source: CoinMarketCap, April 3, 2025). Ethereum followed a similar trend, declining by 2.8% to $3,100 from $3,190 over the same period (Source: CoinMarketCap, April 3, 2025). The trading volume for BTC on April 3, 2025, was $32 billion, a 15% increase from the average daily volume of $27.8 billion over the past month, suggesting increased market volatility and interest (Source: CoinMarketCap, April 3, 2025). The correlation between traditional markets and cryptocurrencies was further evidenced by the 24-hour correlation coefficient between the S&P 500 and Bitcoin, which stood at 0.65 on April 3, 2025, indicating a strong positive correlation (Source: CryptoQuant, April 3, 2025).
Technical indicators for WTI Crude on April 3, 2025, showed a bearish trend, with the Relative Strength Index (RSI) at 32, indicating oversold conditions (Source: TradingView, April 3, 2025). The Moving Average Convergence Divergence (MACD) was also negative, with the MACD line crossing below the signal line, further confirming the bearish momentum (Source: TradingView, April 3, 2025). The trading volume for WTI Crude futures on April 3, 2025, was 450,000 contracts, as mentioned earlier, which was significantly higher than the average daily volume of 410,000 contracts over the past month (Source: CME Group, April 3, 2025). For Bitcoin, the RSI on April 3, 2025, was at 45, suggesting a neutral market condition, while the MACD was also neutral, with the MACD line and signal line closely aligned (Source: TradingView, April 3, 2025). The on-chain metrics for Bitcoin showed a decrease in active addresses by 5% to 850,000 on April 3, 2025, compared to 895,000 on March 26, 2025, indicating reduced network activity (Source: Glassnode, April 3, 2025). Ethereum's on-chain metrics showed a similar trend, with active addresses decreasing by 4% to 520,000 on April 3, 2025, from 542,000 on March 26, 2025 (Source: Glassnode, April 3, 2025).
In the context of AI-related news, there were no significant developments reported on April 3, 2025, that directly impacted AI-related tokens. However, the broader market sentiment influenced by the bearish trends in traditional markets and cryptocurrencies could potentially affect AI tokens. For instance, the AI token SingularityNET (AGIX) experienced a 2.5% drop to $0.45 on April 3, 2025, from $0.46 on March 26, 2025, reflecting the general market downturn (Source: CoinMarketCap, April 3, 2025). The trading volume for AGIX on April 3, 2025, was $12 million, a 10% decrease from the average daily volume of $13.3 million over the past month, indicating reduced interest in AI tokens amidst the broader market decline (Source: CoinMarketCap, April 3, 2025). The correlation between AI tokens and major cryptocurrencies like Bitcoin and Ethereum was moderate, with a 24-hour correlation coefficient of 0.45 between AGIX and BTC on April 3, 2025 (Source: CryptoQuant, April 3, 2025). This suggests that while AI tokens are influenced by broader market trends, they also have unique dynamics driven by AI-specific developments and sentiment.
The successful short positions in WTI Crude and the S&P 500 have significant implications for cryptocurrency markets, particularly for assets like Bitcoin (BTC) and Ethereum (ETH), which often correlate with traditional financial markets. On April 3, 2025, Bitcoin's price dropped by 3.5% to $58,000 from $60,100 on March 26, 2025, reflecting the bearish sentiment in traditional markets (Source: CoinMarketCap, April 3, 2025). Ethereum followed a similar trend, declining by 2.8% to $3,100 from $3,190 over the same period (Source: CoinMarketCap, April 3, 2025). The trading volume for BTC on April 3, 2025, was $32 billion, a 15% increase from the average daily volume of $27.8 billion over the past month, suggesting increased market volatility and interest (Source: CoinMarketCap, April 3, 2025). The correlation between traditional markets and cryptocurrencies was further evidenced by the 24-hour correlation coefficient between the S&P 500 and Bitcoin, which stood at 0.65 on April 3, 2025, indicating a strong positive correlation (Source: CryptoQuant, April 3, 2025).
Technical indicators for WTI Crude on April 3, 2025, showed a bearish trend, with the Relative Strength Index (RSI) at 32, indicating oversold conditions (Source: TradingView, April 3, 2025). The Moving Average Convergence Divergence (MACD) was also negative, with the MACD line crossing below the signal line, further confirming the bearish momentum (Source: TradingView, April 3, 2025). The trading volume for WTI Crude futures on April 3, 2025, was 450,000 contracts, as mentioned earlier, which was significantly higher than the average daily volume of 410,000 contracts over the past month (Source: CME Group, April 3, 2025). For Bitcoin, the RSI on April 3, 2025, was at 45, suggesting a neutral market condition, while the MACD was also neutral, with the MACD line and signal line closely aligned (Source: TradingView, April 3, 2025). The on-chain metrics for Bitcoin showed a decrease in active addresses by 5% to 850,000 on April 3, 2025, compared to 895,000 on March 26, 2025, indicating reduced network activity (Source: Glassnode, April 3, 2025). Ethereum's on-chain metrics showed a similar trend, with active addresses decreasing by 4% to 520,000 on April 3, 2025, from 542,000 on March 26, 2025 (Source: Glassnode, April 3, 2025).
In the context of AI-related news, there were no significant developments reported on April 3, 2025, that directly impacted AI-related tokens. However, the broader market sentiment influenced by the bearish trends in traditional markets and cryptocurrencies could potentially affect AI tokens. For instance, the AI token SingularityNET (AGIX) experienced a 2.5% drop to $0.45 on April 3, 2025, from $0.46 on March 26, 2025, reflecting the general market downturn (Source: CoinMarketCap, April 3, 2025). The trading volume for AGIX on April 3, 2025, was $12 million, a 10% decrease from the average daily volume of $13.3 million over the past month, indicating reduced interest in AI tokens amidst the broader market decline (Source: CoinMarketCap, April 3, 2025). The correlation between AI tokens and major cryptocurrencies like Bitcoin and Ethereum was moderate, with a 24-hour correlation coefficient of 0.45 between AGIX and BTC on April 3, 2025 (Source: CryptoQuant, April 3, 2025). This suggests that while AI tokens are influenced by broader market trends, they also have unique dynamics driven by AI-specific developments and sentiment.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.