$SYRUP
A co-founder just announced his departure, with a roughly −19.3% pullback over the past 7 days and a roughly −4.6% drop in the past 24 hours.
Joe Flanagan and CEO Sid Powell co-founded Maple in 2019. Flanagan is stepping down due to strategic and management disagreements and will help with the handover through the end of the year.
The company says both sides agreed to an orderly transition, business will continue as usual, and assets under management total about $4.8 billion.
The 4-hour candle at 04:00 today hit a low of 0.1282, with a clear spike in trading volume.
Open interest is down about 8% from its 11-10 peak. The funding rate is around 0.005% and hasn't turned negative.
BTC fell about 8.6% over the same period.
First, watch whether it can reclaim 0.1377 above; below, keep an eye on 0.1270. If it holds, then we can talk about direction.
With this drop during the handover period, do you think the bad news is fully priced in, or is there more downside ahead?
Disclaimer: This analysis is for reference only and does not constitute any investment advice!
#SYRUP
A co-founder just announced his departure, with a roughly −19.3% pullback over the past 7 days and a roughly −4.6% drop in the past 24 hours.
Joe Flanagan and CEO Sid Powell co-founded Maple in 2019. Flanagan is stepping down due to strategic and management disagreements and will help with the handover through the end of the year.
The company says both sides agreed to an orderly transition, business will continue as usual, and assets under management total about $4.8 billion.
The 4-hour candle at 04:00 today hit a low of 0.1282, with a clear spike in trading volume.
Open interest is down about 8% from its 11-10 peak. The funding rate is around 0.005% and hasn't turned negative.
BTC fell about 8.6% over the same period.
First, watch whether it can reclaim 0.1377 above; below, keep an eye on 0.1270. If it holds, then we can talk about direction.
With this drop during the handover period, do you think the bad news is fully priced in, or is there more downside ahead?
Disclaimer: This analysis is for reference only and does not constitute any investment advice!
#SYRUP
