Ice Fren 🐙 ⛏️ on Nostr: Been waiting for this to happen, It's necessary for the market to wash out all the ...
Been waiting for this to happen, It's necessary for the market to wash out all the leverage positions and hit the reset button.
the news:
Bybit hack 1.5b
Citadel enters as market makers for all exchanges (naked gamestop short seller)
So the theory is Citdel is holding massive shorts on the market, but who knows. They benefit from a drop, since you can't be a market maker without buying bitcoin. They were not going to buy at the highs, soo short the market collect bitcoin and make a ton of profit.
Things should calm down and as long as confidence isn't destroyed (below 70k), new highs are claimed in a few months. More or less the macro is going into a mini-bear until fed cuts rates and narrative is made that the worst is over.
the news:
Bybit hack 1.5b
Citadel enters as market makers for all exchanges (naked gamestop short seller)
So the theory is Citdel is holding massive shorts on the market, but who knows. They benefit from a drop, since you can't be a market maker without buying bitcoin. They were not going to buy at the highs, soo short the market collect bitcoin and make a ton of profit.
Things should calm down and as long as confidence isn't destroyed (below 70k), new highs are claimed in a few months. More or less the macro is going into a mini-bear until fed cuts rates and narrative is made that the worst is over.