Now the market is brewing a negative factor - the token sale after the bankruptcy liquidation of FTX on the 13th.
Many people interpret that a large number of tokens will be sold after the bankruptcy liquidation on the 13th, which may bring a massive wave of selling pressure to the market. This pessimism directly reflects the crypto market.
But what Uncle Cat wants to say is, don’t blindly chase short positions. Reason 2:
First, I took a look during the bankruptcy liquidation. The possibility of OTC tokens is not ruled out, and the encryption market is also a matching market. A large amount of sales needs someone to take over, otherwise there will be no liquidity and there will be no selling. Moreover, relevant articles mentioned that many institutions, including BlackRock, are interested in the FTX 2.0 proposal, and there is also the matter of peddling. Of course, this is conjecture.
Secondly, if there is such an obvious negative sentiment, the main force who blindly pursues long positions may backhand to pop up short orders before FTX ships to reduce the loss of funds.
Overall, I agree with the negative news, but don’t blindly chase the short side. If you chase it well, you won’t get much. If you chase it poorly, you may be directly trapped in it. The market will not move forward under such obviously bad news.
It’s never wrong to be careful!
