Finally, after 8 months of waiting we have a dead cat bounce! And all this because of the "good news" of some ponzis paying fiat debt and getting back their BTC collateral. Once again the market is irrational. These ponzis are specialized at coordinated BTC shorting to give the clients the proper yield in BTC. My guess is that they will wait for the cat to stall somewhere in the 26K-35K range, to resume the shorting.
~snip~
I was hoping that all these companies would fail, which would be the best sequence of events regardless of the negative impact on Bitcoin in the short term. However, as things stand, this crypto circus will continue and people will continue to believe in fairy tales after all - because irrational behavior during the pandemic has become even more pronounced than before.