It's bizarre how there's no bounce at all. Hit like a sack of seed.
Because people are expecting 245-255$ as a bottom, but i would rather be concerned about 30.300.000$ of longs which havent decreased at all which means that we might see a cascade margin calls pretty soon if btc falls below 250$. Something really fishy is going on. Btw finex started this quick dump, not goxobi/okgox as they usually do it .
That's why I like to keep my leveraged longs with a liquidation price below $100. I think a long squeeze is a very low risk. For example I as a long term bull keep most of my BTC in cold storage.Too many of us are hoping for a long squeeze so we can break those dusty old coins out and use them for leverage to double down. That and some Big Money that is waiting for low prices.
Yeah, BFX leads the exchange pack now.