Today’s Nuggets
Cascading Liquidations
Grayscale Equilibrium Not Materialized
Why Asia’s Entry Will Be Big
Forecasting Bitcoin’s Next 100 Days
Asia Dominates Spot Volume
The New ETFs are Driving BTC Price
Bitcoin is ‘Super Cheap’
Retail is Not In Yet?
Here is our Bitcoin-only playlist:
https://www.youtube.com/playlist?list=PLWTRLGkkf1kTTbIDdv-P6ykul7a8iUXYf
We are getting closer and it is so exciting!
Bitcoin recently wicked down to $65,000 on the nose!
We were going to bounce off that level because market makers were reaching to liquidate the longs. We know how this works, as we have been watching it for years.
When people go leverage long, the market makers see it and swoop down to grab it!
This could be a good catalyst…
The shorts are having a good day today but the longs did not!
If you look at this chart, you will still have the 71,600 level for the shorts.
This leverage liquidation event and cascading liquidations could be the last one before the halving.
I will dig into the size of the new players, the new entrants coming in, and their significance.
A moment of silence for those who lost today...
I reckon there are about 55 million people in crypto and they just lost nearly a billion dollars.
If you calculate the average loss per person, it is stunning.
There is no doubt that the average person in crypto lost money today.
The drainage is not over.
This week, the so-called equilibrium stated by Michael Sonnenshein (CEO of Grayscale) has not come to pass.
GBTC started the ETFs with 621,000 Bitcoin and they have lost approximately 300,000 to date.
I believe a maximum of another 100,000 could bleed out over the next 60 to 90 days - be prepared for that!
Per Bloomberg, Hong Kong is set to approve the spot Bitcoin ETF on Monday!
This is why I say you have five days to stack because the Asians know what is happening on Friday next week - the Bitcoin Halving, of course
There is going to be a massive sense of urgency to on-ramp fiat and push it into Bitcoin as quickly as possible - next week will be crazy…
$25B? Is that possible?!
$25 billion is essentially what BlackRock spent in 63 days. So
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