Structure before signals
SwapHunt studies liquidity, behavior, and structural patterns inside crypto markets. The goal is not prediction. The goal is to understand why markets move the way they do.
Reading markets instead of predicting them.
If you're trying to understand how markets actually behave:
Start here if you want to see how structure plays out in real markets.
Daily Note · 10 Aug: Shorts Cover While Vol Collapses
Hedge funds abandoned a structural short into a market where volatility just hit multi-year lows, while a major treasury quietly reduced its own position.
Read article →Articles
If you want to see the ideas applied in real markets, start here.
Long-form observations on market structure, trading psychology, and behavior patterns. Written to explain, not to persuade.
Browse articles →Frameworks
If you're new, this is where the model starts.
SwapHunt is built around a simple idea: make the same decision the same way every time. Context over conclusions, structure over noise.
Read about the approach →Latest articles
If you're browsing, these are recent notes:
Daily Note · 10 Aug: Shorts Cover While Vol Collapses
Hedge funds abandoned a structural short into a market where volatility just hit multi-year lows, while a major treasury quietly reduced its own position.
~2 min readDaily Note · 9 Aug: Fear Persists While ETFs Absorb
BTC and ETH drifted lower on the day while sentiment stayed pinned in fear, even as ETF flows and institutional commentary pointed the other way.
~6 min readHow Funding Rates Reveal Market Overheating
Funding rates measure the cost of leverage in perpetual swaps, and when they stretch to extremes they reveal a market overheating well before price confirms it.
~2 min readDaily Note · 7 Aug: Whales Bought, Sentiment Didn't Follow
Whales added $1.2 billion in BTC and ETFs pulled in $754 million, yet Fear & Greed still reads 29. The last 24 hours widened the gap between who's buying and how the market feels about it.
~6 min readHow Macro Events Actually Transmit to Crypto Markets
Macro events don't move crypto directly - they move liquidity and risk appetite first, and crypto reacts to that transmission chain, not the headline itself.
~2 min readDaily Note · 6 Aug: Safety Bid, Not Risk-On
BTC and ETH were the only large-caps in the green as traders rotated into size, not risk - a defensive posture that fear-and-greed data still confirms.
SwapHunt evolves quietly.
Most readers don’t read this once.
They return to it over time.
The weekly note
One note a week on where structure and sentiment diverge. No signals, no shilling.