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Started By
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re: Official CryptoTalk Thread
Posted on 3/17/24 at 12:01 pm to TRUERockyTop
Posted on 3/17/24 at 12:01 pm to TRUERockyTop
Read on Twitter that the dip was caused by an institution shorting microstrategy with $1billion and buying $1billion in BTC. They ended up having to sell the BTC to cover the short, or something like that. That then lead to btc long liquidations.
something to that extent
something to that extent
2
Posted on 3/17/24 at 12:55 pm to umrebel2009
Yeah that wouldn't surprise me. This dip smells like a liquidation event.
Posted on 3/18/24 at 8:58 am to umrebel2009
quote:
Read on Twitter that the dip was caused by an institution shorting microstrategy with $1billion and buying $1billion in BTC. They ended up having to sell the BTC to cover the short, or something like that. That then lead to btc long liquidations.
something to that extent
That is exactly what happened. They covered but had to sell their $1B hedge of spot btc into the close on Friday, weekends are weak anyway with ETF buyers in the Hamptons.
noise^
ETFs inflows set a new record Friday.
signal^
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