norok

Leverage Manipulation on Bitcoin

Short
BITFINEX:BTCUSDSHORTS   BTCUSD Shorts
Cool story bro's about "whale manipulation" are common. Here is some evidence.

The "Liquidation Spike" of December 3rd started with the 8:30am US Jobs Report. The move triggered a cascade of stops and liquidations across the cryptocurrency market. In the days prior there was a dramatic increase in leveraged short positions being opened. On Bitfinex the leveraged shorts increase by 275% over 7 days. When the move down happened these short positions closed into profit from where they were taken.

Gravity seemed to pull price down the retest the low. Now on this move to breach the Liquidation Low there is another noted increase in short positions likely trying to force out stops and leverage longs. The battle ensues! My thesis remains that cryptocurrency has entered the bear phase of its cycle.


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