BTCÐ price had fallen rapidly more than 5% in the past hours. Altcoin market (Exclude BTC) begins to capitulate, and BTC Dominance starting to rise during 5/10-5/12 (Pic. 2): upload.cc/i1/2022/05/12/Ix9kcJ.png
Changes of BTC Exchange Reserve: -17,464 BTC during 5/10-5/12 (CryptoQuant). This is Top 69 huge whale's romance, they buy(net) more than +32,328 BTC during 5/10-5/12 (Rich lists).
For a long-term, it would be a good time to build the position in the recent when retail investors are panic (buy in batches) (Pic. 1): upload.cc/i1/2022/05/12/Mu6FQ1.png
On the other hand, BTCUSDLONGS in Bitfinex hits its ATH, BTC price and BTCUSDLONGS are usually negatively correlated. How will it develop next? (Pic. 3): upload.cc/i1/2022/05/12/FqWUKg.png
BTW, USDT lose its pegs again, pay attention to the risk, and this situation also happened in 2020/3 when investors were panic (Pic. 4): upload.cc/i1/2022/05/12/O38ToY.png
Good luck and Enjoy the market! --------------------------
Analyst of cryptocurrency Yu-Shiuan Chen (CryptoQuant & Tradingview Taiwan)
I have a question, Why would the USD longs be inverted if they use it to hedge their portfolio, for me it would make more sense if they would short, to hedge their portfolio?
Could you explain, why the USD long is inverted to BTC ?
I have a question, Why would the USD longs be inverted if they use it to hedge their portfolio, for me it would make more sense if they would short, to hedge their portfolio?
Could you explain, why the USD long is inverted to BTC ?