U.S. stocks went wild last night, Bitcoin played dead, and our short positions kept raking it in
Brothers, did you watch U.S. stocks last night? The Nasdaq was up more than 1%, and a bunch of chip stocks gained 10%. Micron and SanDisk took off.
I actually felt a little nervous at the time. With U.S. stocks surging like that, if Bitcoin followed suit, we’d have to give back the profits on the half of our short positions we still had open.
But when I checked this morning, Bitcoin had only bounced to 74.6k before getting pushed right back down to 73.7k. U.S. stocks were feasting, and it didn’t even get a taste.
We shorted Bitcoin at 74.9k and closed half at 74k. The other half is still up 1,200 points right now.
There’s a reason Bitcoin is so timid. ETFs have seen outflows for four straight days, and BlackRock’s fund is even worse—it’s had redemptions for eight days in a row. The odds of a rate hike in December have also hit 90%. The big money is flowing out, and retail investors alone can’t move the market up.
If Bitcoin isn’t following along even with U.S. stocks rising this much, then when U.S. stocks pull back, it’ll most likely head lower again.
So we’ll keep holding the other half, with the target still at 72k. No change.
Brothers holding shorts, did you sleep well last night? Let us know in the comments. #BTC
$BTC
Brothers, did you watch U.S. stocks last night? The Nasdaq was up more than 1%, and a bunch of chip stocks gained 10%. Micron and SanDisk took off.
I actually felt a little nervous at the time. With U.S. stocks surging like that, if Bitcoin followed suit, we’d have to give back the profits on the half of our short positions we still had open.
But when I checked this morning, Bitcoin had only bounced to 74.6k before getting pushed right back down to 73.7k. U.S. stocks were feasting, and it didn’t even get a taste.
We shorted Bitcoin at 74.9k and closed half at 74k. The other half is still up 1,200 points right now.
There’s a reason Bitcoin is so timid. ETFs have seen outflows for four straight days, and BlackRock’s fund is even worse—it’s had redemptions for eight days in a row. The odds of a rate hike in December have also hit 90%. The big money is flowing out, and retail investors alone can’t move the market up.
If Bitcoin isn’t following along even with U.S. stocks rising this much, then when U.S. stocks pull back, it’ll most likely head lower again.
So we’ll keep holding the other half, with the target still at 72k. No change.
Brothers holding shorts, did you sleep well last night? Let us know in the comments. #BTC
$BTC
