By Bill Taylor, CEO / Digital Wealth News and AI & Finance
DISCLAIMER: The opinions expressed below are solely those of Bill Taylor & do not represent those of DWN or any affiliates. Any financial advice included here is for entertainment purposes only.
BULLISH – BITCOIN, ETH
NEUTRAL –
BEARISH – S&P 500, GOLD, SILVER
3/31/26 Closing Prices:
BTC: $67,831.76 -2.3% (Tue-Tue)
ETH: $2,097.12 -1.1% (Tue-Tue)
Gold: $4,619 +6.4% (Tue-Tue)
S&P 500: 6,528.52 -0.04% (Tue-Tue)
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First, a Big…..no, HUGE……congratulations and a “tip of the hat” to all the fund managers out there. After a down month AND a down quarter which translates into negative returns, those nervous managers did some pretty impressive “window dressing.” Now if you don’t know what “window dressing” is, here’s a simple explanation. MANIPULATION.
Usually associated with the end of a month or quarter, fund managers tend to “dress up” their performance so as to 1) save their job and, 2) beat their peers or, 3) maybe get a quarterly payout. Ah, but things went awry this first quarter. Markets went DOWN. I know, I know I know, that can’t really happen, but it did. So, what to do? Buy stocks and index’s that heavily influence the fund’s benchmarks. In other words, if a manager is down 5% for the quarter and you buy enough (influence, manipulate, etc) equities to cut that loss down to 3.5% or so magically you look better. That’s what’s happening today on the last day of the quarter.
Legal? Prove it. Everyone knows what is going on but the cost to actually prove it isn’t worth it. Even the SEC attorneys won’t touch it because it takes too much work. Remember, those SEC folks find it easier to convict your 88-year-old grandmother who bought 100 shares of a stock her granddaughter, who works for a law firm working on takeovers, told her about.
But I digress. Now that everyone knows that a war is actually under way and wouldn’t be over in an hour and a half (OK, a couple of weeks) selling began in earnest. It ain’t over yet. Even if sharp rallies happen (sell the bulge) things have changed. Brokerage statements go out, investors gasp (a down market?) at losing money and don’t feel as wealthy, spending slows and soon, real soon, recession talk will begin (who could possibly see that coming).
I won’t even get into the lurking private credit fiasco. Nobody can even get a glimpse of what’s going on there.
SO, yes I am bearish. But, with this kind of volatility, hedge, hedge hedge. I continue to love selling deep in the money call spreads on the S&P 500. I still like the BITCOIN story and here in the mid-sixty area looks decent. However, buying cheap call spreads gives you upside and…..just in case…..downside protection. JUST LIKE WHAT i HAVE BEEN SAYING THE PAST COUPLE WEEKS.
Happy Easter and see you next week.
.
S&P 500…..Hedged Short
GOLD…..Bearish
BITCOIN…..Bullish
ETH…..Bullish
2026 TARGETS:
- BITCOIN 2026………..
- ETH 2026………………
- GOLD 2026……………..
- S&P 500 2026………….Down 15%-20% on a pullback….then????
Current trading positions:
- BITCOIN…….Slightly Long
- ETH….NONE
- GOLD….NONE
- S&P 500….HEDGED SHORT
We compare the price of Bitcoin, Ethereum, Gold & the S&P 500. We use the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference as well as the London Bullion Market afternoon price settlement on the digital assets & gold.
Bill Taylor is CEO of Digital Wealth News. He is widely published & quoted in financial media and an international expert on markets and BTC, ETH, Gold & SP500.
His opinions are solely his own and for informative purposes only.
