The new crypto buying spree is about to kick off. Tomorrow marks the official final registration date for asset distribution rights as set by FTX. This means that starting tomorrow, all the frenzied trading of FTX claims, preferred shares, and official confirmation channels for claim transfers in the secondary market will be completely frozen. Why do we say there will be new buying activity? Because FTX recently filed a request with the court to reduce the disputed claims reserve by $600 million (from $2.4 billion to $1.8 billion), which means more pure cash will flow directly back into the hands of native crypto users by the end of July. As rational bulls, the FTX claim whales, after locking in confirmations on the 16th, will likely hedge the risk of the window period between receiving cash in July and officially building positions. They’ll use derivatives or spot trading next week to perform alpha hedging, creating a wave of hidden buyer consensus.