The only reason the Bitcoin price dumped this morning is that there was so much leverage piled into the long side.
Discussion
you think its basically upward all year or are we gonna see a sell the news dump ?
or possibly a greater macro downturn ?
Long term it's always up and up. Always has been.
Iām thinking lost here.
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Would do great fun.
Wonder when nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s is in europe again?
A rendezvous with could be done.
Yep. They fucked around and found out.
Everybody was expecting it to break out and run higher. All the leverage was already positioned long and there was nobody left to buy. It only took a little bit of selling to trigger a cascade of liquidations. Every. Fucking. Time. Almost 200k leveraged accounts liquidated in about 2 hours.
It's interesting to see that it only dropped what, like 9 percent? Volatility is not what it used to be š
What's interesting to me is that every selloff since early December has been unable to push price below 40k. This was the biggest dump in the last 30 days and it still stopped short of 40k.
Also almost half a billion dollars changed hands during this dump and somebody made a killing.
We're in the same channel, it literally didn't dump.
Everything was down today.