I spent quite a while discussing this with friends in the group: Fasnara Capital holds short positions worth $192 million, accounting for 86.3% of its total holdings, and is currently sitting on an overall unrealized loss of $5.63 million.
This bearish news may lead some investors to wait and see. Whether they come back later will depend on how the market moves.
Opinions were all over the place when I discussed this with friends. I think it’s safer to wait and see for now.
$BTC .