There is a theme being propagated on interwebs that bitcoin will never be able to get from under negative price pressure from CME/CBOE futures (which are cash-settled). Apparently, it happened multiple times before with other commodities.
Q to WO crowd: do you think that bitcoin does (or doesn't) have some futures fighting mitigation strategy?
Personally, i don't fully buy that doom-and-gloom scenario because other cryptos did not have futures, yet declined even more, hence not a clear cut picture.
Would btc-settled futures like bakkt and/or 'physical' ETF objectively helpful in this fight or not?
Of course, if some some major fiat currency would experience hyperinflation, then btc would benefit, but this scenario is not very conducive to day-to-day life.
I would prefer to think about how we can use intrinsic bitcoin properties to fight CME/CBOE pushing us down (in price).
Seems to me that you have to buy BTC in order to sell them, so can be a question regarding how long these folks can continue to get BTC to sell to send the price down, even if settled in dollars , aren't the shorts going to get reckt as some point if people are not willing to sell their BTC and there is not enough BTC to fuel the various contracts that are settled in dollars?