
Daily closure was good today and negated all the bear divergence that had built up, which means it's part of a bigger impulse or was part and I missed the final push- being close to weekend the weekly likely flips green, However this has happened in the past with a failure eventho price has pushed higher than I expected for a dead cat so I will remain cautious and showcasing the chart what I mean, The CLI Index also trending more down after it made a lower high, I will also post it here. Which is a major concern to me with stocks still being bearish on cycle trends, as it still is, remember I said the entry down low on stocks was a really good entry but that I still do not believe it's done and another test lower likely as can be seen with its previous cycles, those that kept being toxic just ignore that fact and also ignore the fact that they all missed that down turn, there is no question stocks is in a bear market and that is fact. Does not take skill to bull or bear post the whole time, you get influencers, and you get traders. The put call ratio also not favorable and has me on edge, also posting that below.
I believe BTC will still flip with stocks when and if they take the turn which I think is close. That means a deadcat in my view if no higher high is made, with all that being said it is still technically worth the risk on weekly trend flips if its more than that and if new highs are to be made, it's also not worth the sit out if BTC dominance breaks down from this point and it would be worth losing a few % if stops gets hit and the worse does happen. I will therefore look for entries on a retest lower but with tight stops on my end when I do enter. No one wants to be out of the market when BTC dominance breaks down, whether that be now or at the end of the year or next year. you want to be ready for it.
All in all, scaling in here means I have lost about 6% from my exit at 97k with majority of my positions- which I probably will enter lower so it would be little less than that, from a risk standpoint it still worth it for me and I do not mind that % loss. I have always said to follow trend no matter the thought process, in this case I am still bearish but cannot ignore the trend and also a high probability for that weekly close above 95 which was and still is a very important level to have taken back and now to hold.
The last trades were an exit at 95- then entry at 77-then exit at 97-101 and now possibly scaling back in on some positions with stops if we test lower ( I am still deciding and keeping eyes on price the whole time )- which would hurt if it turns and I add another couple % to that 6% if it breaks down and hits stops as well, for now its not too bad. For those thats not in, every weekly flip had a retest on the trend lower before it continued further. I will also showcase that in a chart for possible good spot for entries and it would be good to manage your risk below 95. It would also be good to see that test with continuation and not a breakdown- breakdown would confirm the worst and a bounce there would confirm likely the best.
Arbitrum DAO earmarks $11M for tokenized US Treasurys investment
The Arbitrum Foundation took to X, formerly Twitter, earlier today to announce that the DAO is moving on to the next phase of its Stable Treasury Endowment Program (STEP), after an on-chain vote.
As part of the new phase of the DAO’s initiative to diversify its treasury with investments in real-world assets (RWAs), it will allocate 35 million ARB, worth around $11.6 million at current prices, to tokenized U.S. Treasurys through leading institutional issuers Franklin Templeton, Spiko, and WisdomTree.
According to the DAO’s post, after a proposal process that evaluated over 50 submissions, the STEP committee recommended an allocation of 35% to Franklin Templeton’s FOBXX (tokenized as BENJI), 35% to Spiko’s USTBL, and 30% to WisdomTree’s WTGXX.
The committee, which is made up of community-elected members, made their pick with a desire to strike the right balance between fees, existing TVL, risk-adjusted setups, and community involvement.
Almost 89% of the participants voted in favor of the allocations, with many expressing satisfaction with the decision as they believe it reflects the right balance of costs, risks and returns without compromising on the broader goal of supporting RWA growth on Arbitrum.
Only 0.01% voted against, and around 11% chose to abstain. Voting lasted several days, starting on May 1 before concluding at 9 a.m. ET on Thursday. Applicants who were not selected will get to reapply in the next round, according to the proposal submitted by Arbitrum DAO strategic consultants Entropy Advisors, on behalf of the committee.
“We are thrilled to be selected as a manager for the STEP 2 program, deepening our already strong connection with the Arbitrum user base,” Roger Bayston, Head of Digital Assets at Franklin Templeton, has said. “By leveraging Arbitrum’s leading Layer 2 technology, we are able to deliver faster, more scalable, and cost-efficient solutions to our clients. This collaboration not only strengthens our commitment to innovation but also positions us at the forefront of the next generation of financial services infrastructure.”
The STEP initiative is a strategic move to foster more institutional involvement in the Arbitrum ecosystem and expand its influence in the broader blockchain and financial sectors.
Matthew Fiebach, co-founder of Entropy Advisors, shared his thoughts on the development in a recent interview. According to him, the fact that organizations like Blackrock, Franklin Templeton, Spiko, and Wisdom Tree are publicly interacting with a DAO in a forum is “an unbelievable accomplishment for the whole crypto space.”
“Since day one, Arbitrum has been strategically positioned at the heart of crypto’s convergence with TradFi, and STEP is a great example of the DAO’s steadfast push to continue bringing institutions onchain,” he added.
All three organizations involved in the Arbitrum initiative have decades of experience in managing assets, and their involvement with STEP 2 can signal to other institutions that the network is a reliable and secure platform for tokenizing and managing RWAs.
Its partnership with these established TradFi firms can help Arbitrum demonstrate that it has a mature ecosystem that is secure and capable of handling institutional-grade financial operations.
According to the post from Arbitrum, since its launch over 6 months ago, over $650K in interest has been generated for the DAO.
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