I have inverted the TERRA LUNA chart and comparing it to the BTC LONGS on Bitfinex
This is interesting. The longs are still underwater from the 39k-24k mark. With all the price action the BTCLONGS has not even budged.
Luna drop, massive longs taken.
Price drops to the 2x liquidation level (20k)
All the sudden MORE LONGS were taken when CELCIUS had to halt transactions on their coins...
"Published June 13, 2022"
"The crypto-lending firm Celsius Network halted withdrawals and transfers, amid an apparent liquidity crisis, as the price of Bitcoin plunged to pre-pandemic levels."
was this "someone" adding margin to those longs to prevent liquidation?
Say what you will about Terra Luna but I really think there is something unexpected about to happen... just a TA hunch
That is a MASSIVE amount of borrowed money being held at the same time Terra Luna fell... no movement on FTX. Maybe a transfer of wealth happening behind the scenes. I dunno
BTC headed into the "bull trap" zone imo
This is interesting. The longs are still underwater from the 39k-24k mark. With all the price action the BTCLONGS has not even budged.
Luna drop, massive longs taken.
Price drops to the 2x liquidation level (20k)
All the sudden MORE LONGS were taken when CELCIUS had to halt transactions on their coins...
"Published June 13, 2022"
"The crypto-lending firm Celsius Network halted withdrawals and transfers, amid an apparent liquidity crisis, as the price of Bitcoin plunged to pre-pandemic levels."
was this "someone" adding margin to those longs to prevent liquidation?
Say what you will about Terra Luna but I really think there is something unexpected about to happen... just a TA hunch
That is a MASSIVE amount of borrowed money being held at the same time Terra Luna fell... no movement on FTX. Maybe a transfer of wealth happening behind the scenes. I dunno
BTC headed into the "bull trap" zone imo
KRJcrypto