 | A big short squeeze just happened. Whales decided to load up on BTC & especially ETH liquidating a TON of short positions. If you aren't aware how MASSIVE this is consider the recent volume. Look how ridiculous the graph looks. All the other liquidations are barely visible compared to what just happened the last 15min. After a strong Stock Market bounce the last days it was inevitable that crypto will finally catch up. What does this mean? Nothing special. Bullrun isn't back ( I'm sorry ) but you can clearly see institutions still LOVE crypto as soon as things look better. You can probably expect a pullback from here but I doubt it'll fall back below yesterdays level. There was a large money inflow confirmed on all exchanges setting up buy orders. What else does this mean? Prepare for incoming BITCOIN HITS 20K ! posts. EDIT: NO FINANCIAL ADVICE Since this post is getting a lot of attention I just want to make sure that this is NOT a buy signal or means anything. In fact, it already dumped a bit reacting to missed earnings report for Microsoft & Google. If this pump was caused by institutions loading up on crypto betting on good earnings they might sell again now that it failed. Here's a chart of NASDAQ ( top tech stock index ) compared with Bitcoin. You can see a pattern when news dropped. BTC chart ( candles ) vs NASDAQ ( orange line ) [link] [comments] |
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