Since at least February, large players have seemed dead set on defending the 100 Billion MarketCap mark for Bitcoin (BTC).
Shorting Bitcoin on Bitmex has now become crowded trade but twice before shorts got squeezed, retail traders got liquidated and 100B was held.
How important is 100B Market Cap for Bitcoin? Is it the bottom?
What say you guys?
P.S. I've noticed that round numbers attract money in some very irrational way
Shorting Bitcoin on Bitmex has now become crowded trade but twice before shorts got squeezed, retail traders got liquidated and 100B was held.
How important is 100B Market Cap for Bitcoin? Is it the bottom?
What say you guys?
P.S. I've noticed that round numbers attract money in some very irrational way
This is a quite interesting consideration. I mean the one about round numbers and irrational. However, not sure this round number will be decisive in determining the bottom ot Bitcoin. It could also be decisive to cause a capitulation by breaking this threshold.