Post
certificate trading
$BTC IS UP 23% THIS WEEK
BUT THIS DOESN'T LOOK LIKE A LEVERAGE CASINO PUMP 👇
WHAT REALLY HAPPENED:
THE SQUEEZE
Shorts got obliterated.
$1.37B liquidated on the 19th
$739M liquidated on the 21st
Cautious sentiment = fuel for a violent move up
THE DIFFERENCE THIS TIME
After the squeeze, we DIDN'T see degenerate leverage come back.
Perp OI: Dropped to 284,000 BTC
Funding Rate: Back to neutral
Translation: This rally wasn't just contracts pushing each other up.
#PCEToJacksonHole $BTC $ETH $XRP
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