Some of my thoughts on the current market: let’s say you are an exchange like Binance. If you let BTC go to 40K now, you would lose all the profits you made in November.. but if you drop BTC now lower, then you could liquidate all the leveraged longs.. right? I can never be 100% sure what happens next, but this is really logical. Another thing that shocked me is that ETH application for ETF from Blackrock is confirmed today.. ETH is still down. Maybe last week’s market already priced in 100% that Blackrock will apply for ETH ETF? If we get a major news about BTC or Tether ETF approval then the market will get a big pump up, but if not, then i am worried that the market is over leveraged on the long side so market makers would want to take BTC lower to flush all the longs.
Be careful
