Im hearing there are lots of institutional shorts that havent covered. Big numbers. Lets see how this plays out.
My feelings are that the pullback we had was overblown by several events.
1) everyone and their cousin was long leverage. pros thought they couldnt get liq playing a 2 and 3 x long.
2) Miner reset. China mining ban was likely front ran. Forced miner selling event.
3) Grayscale FUD
If I am correct....these issues have played out.
Sellside has dried up.
Some shorts are trapped.
Fundamentals have never been stronger.
Global assets are all soaring. Central banks are printing like its going out of style.
My feelings are that the pullback we had was overblown by several events.
1) everyone and their cousin was long leverage. pros thought they couldnt get liq playing a 2 and 3 x long.
2) Miner reset. China mining ban was likely front ran. Forced miner selling event.
3) Grayscale FUD
If I am correct....these issues have played out.
Sellside has dried up.
Some shorts are trapped.
Fundamentals have never been stronger.
Global assets are all soaring. Central banks are printing like its going out of style.