BTC took a dive on the 2nd, and many folks think the traders shorted it all the way down from 82 to 65, making a killing in the process.
But honestly, from what I see, those traders had no clue about the impending dump from the ETH rug pull.
In reality, a lot of them bailed at around 70k, and many even flipped to long positions, only to end up getting caught in the long squeeze.
My take is that most people use historical prices to judge the whole situation, like how a major news drop at midnight leads to panic selling at 8 AM when a trader just wakes up, thinking the drop is due to that news. But really, I woke up at 8 AM with no idea what was going on, just saw my position about to get liquidated and hit the stop-loss, while everyone else is saying it’s because I reacted to the midnight news.
Is it really that impressive? Are people watching the charts while they sleep?
This is just like how this time, BTC traders are being judged as if they shorted it down to 65, thinking they’re so savvy.
$BTC
But honestly, from what I see, those traders had no clue about the impending dump from the ETH rug pull.
In reality, a lot of them bailed at around 70k, and many even flipped to long positions, only to end up getting caught in the long squeeze.
My take is that most people use historical prices to judge the whole situation, like how a major news drop at midnight leads to panic selling at 8 AM when a trader just wakes up, thinking the drop is due to that news. But really, I woke up at 8 AM with no idea what was going on, just saw my position about to get liquidated and hit the stop-loss, while everyone else is saying it’s because I reacted to the midnight news.
Is it really that impressive? Are people watching the charts while they sleep?
This is just like how this time, BTC traders are being judged as if they shorted it down to 65, thinking they’re so savvy.
$BTC