Today’s Nuggets
Pre-Halving 20% Haircut—$1.13B Longs Taken Out
Insane Record-Breaking Bitcoin ETF Volumes
Global Liquidity is Up
The BlackRock’s IBIT ETF is the Fastest ETF to Hit $10 Billion
The New FANG is BAANG with the Addition of Bitcoin
Coinbase App Signals that Retail is Back
Fear & Greed Index Hits 90
Weekly Record of $2.5 Billion of Inflows in Digital Asset Funds
Crypto is back in so many ways. BTC experienced a $10,000 move Tuesday from top to bottom. The price action was orchestrated to wipe out the levered shorts and longs. This pre-halving haircut of 20% is a normal thing in crypto.
We call these money grabs:
Aptos = 6.75% or $320M
Arbitrum = $2.28B
Ape = $34.17M
These tokens continue to unlock, and I do not like holding bags. That combination helped fuel the creation of the IA Crypto Compendium.
Of course, this is Elon Musk trolling the world, as per usual.
Well, here we are. Welcome to crypto!
$1.13 billion was taken out of the pockets of leverage longs. Why do you think the incentives are so good for these Deribits and Bybits? So they can wreck you. They will find ways to pause services so they can grab your money and give it to the market makers.
Always imagine that there is a nefarious character behind exchanges. Whatever is being pumped has a character behind the curtain positioned to mug you. The sooner you are aware of that, the better off you will be.
An old wallet that mined Bitcoin in 2010 from a $900 computer dumped its holdings today. Sometimes, when old wallets get activated,
Keep reading with a 7-day free trial
Subscribe to InvestAnswers Newsletter to keep reading this post and get 7 days of free access to the full post archives.