James Wynn don’t overhype this one—at its core, it’s just a 20x $BTC short for 1.33 coins. The liquidation line is at 80483; being away from the current price of 77595 is really just a quick press of the accelerator.
The chart is dramatic enough on its own today: in the last 24h it’s down 2.23%, the high-low range went from 79838 down to 76888, spot volume is 1.21 billion (1.21e9), and contract volume is 12.45 billion (1.245e10). The volume ratio is 10.3x. People aren’t much, but market sentiment is bursting.
I didn’t short it on my side. I set a 2% short order above 77800, with a stop loss at 78650. The reason is simple: the funding rate is still +0.01%, and shorts haven’t gotten the cheap entry yet. While others post liquidation lines, I only watch my own stop-loss line. $BTC #BTC
The chart is dramatic enough on its own today: in the last 24h it’s down 2.23%, the high-low range went from 79838 down to 76888, spot volume is 1.21 billion (1.21e9), and contract volume is 12.45 billion (1.245e10). The volume ratio is 10.3x. People aren’t much, but market sentiment is bursting.
I didn’t short it on my side. I set a 2% short order above 77800, with a stop loss at 78650. The reason is simple: the funding rate is still +0.01%, and shorts haven’t gotten the cheap entry yet. While others post liquidation lines, I only watch my own stop-loss line. $BTC #BTC