I have nothing against bitcoin futures short plays,but the 100x leverage is insane.They should remove that leverage.I think that bitcoin futures trading had a short term positive impact over the btc price,but they will have long term negative impact.Lots of big investors are trading futures,instead of buying and HODLing btc.
Without the futures martket,the current btc price might be more than 30K USD.
What exchange volume with shorts positions @ 100x leverage are you talking about? Read again in the article that the futures volume from institutional traders is tiny compared to the entire Bitcoin spot market.
Those retail shorts from Bitmex are small. Just look at XBTH18 Bitmex futures 24hr volume: its volume is ridiculously tiny as well compared to bitcoin spot.
So what should be afraid of from the entire bitcoin futures market ?? I think It's manufactured BS.
The hedge fund managers themselves are quoted in the article saying that bitcoin high fees are arguably a contributing factor to at least spread bitcoin FUD and short it. That's a lot more serious shit regardless of whether that's false. They are using that ammo against us regardless. So we need to keep an eye on how are we going to respond on that topic while the smart money shorts remain small.
Also, we need to look to Japan and satisfy that bitcoin market as they are our best bitcoin trading allies.
In the meantime, it's better if we squeeze those shorts beforehand...