Before $BTW , Xiaoyang Xiaoyang would definitely have a big bullish candle. Now it’s Xiaoyang Xiaoyang will definitely have a big bearish candle 😂
I previously got this token in some other airdrops, but I sold it during the first pump.
I think this time Bitway’s plunge was mainly caused by leverage getting liquidated and exploding itself.
It first used incentives and contracts to pull the price from around 0.1 to 1.3, and the long/short ratio reached 9x—most whales were basically all on the long side. The order book was thin and the chips were concentrated; with a single bearish candle, the longs were wiped out. In one hour, it dropped 40%+.
It goes up by squeezing shorts, and it also drops due to the same group of positions. In October there’s still an unlock—people who sold at the highs were not the shorts, but those taking profits.
I previously got this token in some other airdrops, but I sold it during the first pump.
I think this time Bitway’s plunge was mainly caused by leverage getting liquidated and exploding itself.
It first used incentives and contracts to pull the price from around 0.1 to 1.3, and the long/short ratio reached 9x—most whales were basically all on the long side. The order book was thin and the chips were concentrated; with a single bearish candle, the longs were wiped out. In one hour, it dropped 40%+.
It goes up by squeezing shorts, and it also drops due to the same group of positions. In October there’s still an unlock—people who sold at the highs were not the shorts, but those taking profits.
