Breaking it down from a capital-flow perspective: Machi Big Brother's ETH long position is sitting on an unrealized loss of over $410,000, with the liquidation price only about $36 away.
When the news breaks, two things usually happen in the market at the same time:
· Early-positioned traders start looking for opportunities to exit
· Latecomer capital starts stepping in
The relative strength of these two groups determines the direction of the trend. $ETH 24h trading volume was $767 million; watch for any unusually sharp increase in turnover.
DYOR, and participate rationally.
When the news breaks, two things usually happen in the market at the same time:
· Early-positioned traders start looking for opportunities to exit
· Latecomer capital starts stepping in
The relative strength of these two groups determines the direction of the trend. $ETH 24h trading volume was $767 million; watch for any unusually sharp increase in turnover.
DYOR, and participate rationally.