This is hilarious.
It seems that most of the prediction narratives -- for this coming week's end (on Friday morning US time) were all too optimistic -- relative to a quadruple witching hour that will befall Bitcoin derivatives in about 28 hours.
. . .Bitcoin fell below $73,000 amid U.S. airstrikes on Iran, triggering a broad sell-off in cryptocurrencies and other risk assets.
Nearly $1 billion in leveraged crypto positions were liquidated in 24 hours, with long positions making up 93 percent of the wipeout. . . .
[Earlier: a] $2,000 plunge below . . . $75,000 remains a real risk [Ed. Note: now a realized FACT] heading into the May 29 settlement. . . .
Tim Sun, senior researcher at HashKey Group, told CoinDesk “The bigger problem, is macro: investors are de-risking as long-term yields rise, oil and inflation risks remain in focus, and there is currently no compelling reason for new capital to enter the market. . . .
Disclosure: I hold long dated out of the money puts on stocks that trade in tandem with Bitcoin, so I enjoy the down-bubbles in BTC. G'night, all of good will. . . smile.
नमस्ते
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