ByteTree

Actionable, high-quality, and contemporary investment research for private investors

We Cover: Multi Asset, Value, Quality, Momentum, and Digital Assets.

[ByteTree @ByteTree]

The BOLD strategy provides optimal risk-adjusted exposure to #Bitcoin and #Gold as a hedge against monetary inflation.

Learn more about BOLD on our website: https://t.co/fFl3vYOLDP

[Charlie Morris @AtlasPulse]

I write a short note on Bitcoin on Wednesdays on @ByteTree . Free to read. With the price down, it's an important week. I looked at the ant-bubble, the quantum threat and the energy spike. Not to forget Saylor. 🧵

[ByteTree @ByteTree]

The Philadelphia #Semiconductor Index ($SOX) is currently 65% above its 200-day moving average. For context, #gold only reached 43% at its January peak. At the height of the dot-com #bubble in 2000, the SOX hit over 100% overbought — and the market didn't make a new high until 2017.

What we tend to forget is that capital doesn't appear from nowhere. When one part of the market surges, it often drains the areas left behind. This is what we call the #antibubble. The areas it leaves behind — often value, often defensive — tend to be exactly where the opportunity builds.

Read our latest update of The Multi-Asset Investor by @AtlasPulse: https://t.co/Z11ZkkuPIS

[ByteTree @ByteTree]

The AI boom is pulling capital away from #Bitcoin and #Gold — but BOLD's long-term story stays compelling.

June rebalancing for $BOLD: 43.2% Bitcoin / 56.8% Gold.

Since Bitcoin's 2017 peak, BOLD has returned +435% vs +286% for BTC alone.

Read our latest monthly update on BOLD by @AtlasPulse, for free: https://t.co/OdiebHv07l

In partnership with @21shares and @KaikoData.

[ByteTree @ByteTree]

Post-pandemic, major sportswear brands have had a rough few years. #Nike's struggles are the headline, but the weakness has been broad.

That's starting to change. #Asics is leading the charge, #adidas is winning the advertising battle, Nike's turnaround is showing promise under a new insider-CEO, #Puma's decline is abating, and #JDSports is following suit.

Green shoots across the board — and a #WorldCup summer to boot.

In the latest Venture update, Charlie and Kit have picked their favourite stock to capture the opportunity. 👇 https://t.co/da12A6Rbod

[ByteTree @ByteTree]

The #semiconductor index is 65% above its 200-day moving average. Everything else? Mostly slack.

This week's Global Trends Investor maps the divergence: only #Technology Hardware is truly leading globally, while most sectors, regions, and industries sit in the slow lane.

Notably, the last time the $SOX ran this hot was 2000. It took 17 years to make the next new high.

The Global Trends Investor is our free weekly trend-following letter tracking global #momentum across the world's 200 largest stocks.

Read this week's issue by @AtlasPulse and @WinderKit: https://t.co/a0SuBaypAD

[ByteTree @ByteTree]

Gold is soft, and the short-term picture isn't good. But bigger picture, the correction sits within a medium- and long-term uptrend.

What's more, we've been here before - 1974, 1980, 2011 - with 3 very different outcomes.

In our latest free update, @AtlasPulse takes a technical look at the #goldprice - read it in full👇
https://t.co/TzV8cirnHF

[ByteTree @ByteTree]

In two weeks, the largest IPO in history goes live. #SpaceX is targeting a $1.75tn valuation on $18.7bn of sales — it's loss-making, but growing fast, and Musk retains full control regardless of shareholders.

But the real story is what Nasdaq did to get the listing.

@AtlasPulse explains 👇https://t.co/cbqXOxsLE8

[ByteTree @ByteTree]

Hardware or Nowhere.

Tech hardware is dominating global stock trends right now — but strip it out, and the picture gets a lot murkier, especially in Asia.

This week's GTI 200 looks at what Toyota's earnings tell us about tariff reality, and why a market retesting all-time highs can still feel very thin.

The full analysis by @AtlasPulse and @WinderKit is free to read: https://t.co/eQHpO5hMC7

Sign up for our free mailing list for weekly updates.

[ByteTree @ByteTree]

There is a particular kind of quality business we like.

It’s one that owns an irreplaceable physical asset and uses it to generate healthy cash flows on long-term contracts, with a built-in ability to pass through inflation. Examples include things like railways, airports, pipelines, royalty companies, motorway concessions, and more.

Today’s note recommends such a company, and it’s one that has reached a powerful inflection point.

Full write-up by @AtlasPulse and @WinderKit on our website👇 https://t.co/dQSjpKfRqT

[ByteTree @ByteTree]

The recent outperformance of #UKequities over #bonds is truly staggering — the divergence hasn’t been this wide in decades.

As inflation pressures build in this #commoditybull market, #bondyields continue making new highs. We are now back in a world where gilts yield more than equities — something investors haven’t experienced since before 2008.

So far, equities have remained resilient. But how much longer can that last?

Read our latest edition of The Multi-Asset Investor:
https://t.co/mG7AWRC6IH

📈UK Equities vs Gilts - Total Return since 1999 (inc. dividends)

[ByteTree @ByteTree]

We are delighted TO ANNOUNCE that @ajbell now trades $BOLD - visit https://t.co/20rKVIu2hV for more information about BOLD.

[Charlie Morris @AtlasPulse]

Delighted that @ajbell are now trading Bitcoin and Ethereum ETPs. Best of all, BOLD too.

[ByteTree @ByteTree]

The 1999 chart we'd hoped never to see again is back. The spread between US #momentum winners and losers has reached 39% — a reading only matched in 2000 and 2008, and you know how both of those ended.

Exhibit A is #Intel, whose sales are still struggling but whose stock has risen sixfold on the back of a Trump-era state cash injection, taking its price-to-sales ratio back to #dotcom-bubble territory.

Meanwhile, global equities have just hit a new all-time high relative to world GDP. The oxygen gets thinner up here, and the rally is being carried by an ever-narrower group of names insulated from a cost-of-living crisis that is grinding everything else down.

What options do investors have from here? Read our latest update, "Bubble Alert": https://t.co/V4j5cUDsrl

📈US Momentum – Past Winners vs Past Losers – 2026 YTD

[ByteTree @ByteTree]

In our latest Quality Portfolio recommendation, we examine a business built around disciplined capital allocation, resilient cash generation, and long-term compounding through multiple market cycles.

The company has recently experienced one of its weakest periods of relative performance in many years, despite the underlying business continuing to strengthen.

Such disconnects rarely last forever.

The full investment case by @AtlasPulse and @WinderKit is available to subscribers: https://t.co/18O37yLpsN

[ByteTree @ByteTree]

#Semiconductor stocks are seemingly the only game in town, driven by booming #chip prices, in the scramble to generate compute.

This week, Venture adds an early trend in an out-of-favour tech company with a 21% free cash flow yield and on 1.5x sales. https://t.co/Vv9dvzcOkl

[ByteTree @ByteTree]

The concentration is narrow, and the market is once again resembling the behaviour seen in the late 1990s. It feels late in the day to chase chips.

Read our latest update by @AtlasPulse and @WinderKit for free 👇https://t.co/23MfxYFi4n

#ChipStocks #semiconducors #Magnificent7

[ByteTree @ByteTree]

There is a new wave of innovation emerging in the crypto industry: AI Agents. https://t.co/G4d37bbcdL

[ByteTree @ByteTree]

Markets swing between investing and gambling - or the church and casino, as Buffett calls it - and investors swing with them. In casino times, patience and selectivity are part of the strategy, not a failure to act.

Read our new update by @AtlasPulse 👇 https://t.co/8aJPoxgVUq

[ByteTree @ByteTree]

The leadership in global equities is thinning, but this still looks like a bull market. The primary risk is the oil price, which, with the Strait under pressure again, could derail the rally.

Read our latest Global Trends report 👇https://t.co/3AQ6LxMNND

[ByteTree @ByteTree]

The @21shares Bitcoin Gold ETP (BOLD) invests in Bitcoin and Gold. BOLD combines the world’s two most liquid alternative assets on a risk-adjusted basis.

Following rebalancing on 30th April 2026, the new target weights for the $BOLD Index are 42.9% Bitcoin and 57.1% Gold, a 1% reduction in Bitcoin from the previous month. Gold’s volatility has now stabilised, having been rising during the 2025 price surge, while Bitcoin’s has remained stable.

In April, BOLD rose by 6.0%, while #Bitcoin returned +12.1%, #Gold -1.1%, and global equities +9.6%, in USD terms. Bitcoin has led global equities in April and has proved resilient in a haphazard market environment. This contrasts with the period prior to the conflict in Iran, where Gold was more resilient.

Read the full monthly rebalancing report by @AtlasPulse for free: https://t.co/cFlOcV720g

In partnership with @21shares and @KaikoData.

📈Bitcoin, Gold, BOLD, and Global Equities in USD - Since Bitcoin’s 2017 Price High