A lot of people shorted SOLANA after the news of FTX liquidation when the court granted the FTX CEO the access TO liquidate a few hundreds of millions of their SOL holdings.
Forgetting that such grant for transaction is always done through OTC.
And most likely, if you're a business man, would you like to sell your product at $100 when you know that if you manipulate the market with the news you have, you stand the chances to sell it at $500 in months coming?
The answer is NO.
The behind the scene lots of traders didn't know is that immediately FTX was granted access to liquidate over $300 million of their SOL holdings.
Hedge funds companies rushed to bid.
One company eventually succeeded but used OTC to execute the transaction.
Here is what those hedge funds companies know that retailers don't know....
They understood that they can manipulate the market using the negative news.
Leveraging on that, they can drive the price higher and then dump on buyers.
The dump might not be immediate, but it will definitely happen at a price they have made at least double their capital.
Learn how market psychology works in cryptocurency, it will save you lots of stress.
Also, learn how to think like a market maker, and you will profit daily without stress.
No charting, drawing multiples of lines.
No sleepless nights reading indicators.
If you learn to think like market makers and you're friends with a few insiders.
Trading becomes very easy for you.
