🐋 From a capital-flows perspective: A wallet suspected to belong to a gambler or hacker opened a 40x short position of 305.51 BTC, worth $25.4 million.
The bearish news is already in the headline; now it’s just a matter of seeing how the market prices it in. Open interest in futures and spot buying should be viewed separately: rallies driven by spot buying tend to be more stable.
$BTC (24h +0.84%), trading volume: 1.539 billion.
#BTC
Don’t treat this as a basis for making trades.
The bearish news is already in the headline; now it’s just a matter of seeing how the market prices it in. Open interest in futures and spot buying should be viewed separately: rallies driven by spot buying tend to be more stable.
$BTC (24h +0.84%), trading volume: 1.539 billion.
#BTC
Don’t treat this as a basis for making trades.