The Return of BTC’s Most Overlooked Proxy?

In the early 2021 BTC bull market, Monex Group (TSE:8698), a relatively obscure, small cap online brokerage company’s stock in Japan became the world’s most heavily traded and closely correlated BTC proxy instrument, as well as the most heavily traded single stock in Tokyo. Monex had more notional value traded per day than giants such as Toyota and Softbank, despite Monex being 1/100th the market cap. With the coordinated input of the Real Vision Exchange community, Weston Nakamura monitored, analyzed, and published notes and articles on Monex shares’ price action, and found that not only was Monex a tight proxy to BTC, but contrary to how a proxy relationship works, Monex shares actually began to impact BTC itself. Using Monex, Weston and the Real Vision Exchange community were ultimately was able to identify the May 19 crypto crash, pinpointed down to the very day, weeks in advance. After the crash, there was no longer demand for either BTC or a proxy, and Monex decoupled from BTC - until now.

See the return of Monex Group shares’ influence, and it’s direct impact on BTC price action, as Monex hits back to back limit up +40% in 2 days and halts for trading.

Thanks for watching, have questions for Weston? Reach out and follow Weston directly on Twitter: https://rvtv.io/acrossthespreadTW

Interested in more on the subject? Check out Real Visions: The Exchange for related conversations.

Theory: Monex Has Become More BTC than GBTC (4/26/21)
https://rvtv.io/rvte042621

Crypto Winter Coming in Charts (5/11/21)
https://rvtv.io/rvte051121

BTC is Teetering on the Brink: What’s Happening and What to Watch For (5/16/21)
https://rvtv.io/rvte051621

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The Return of BTC’s Most Overlooked Proxy?
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#Monex #Bitcoin #BTC

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