Yes strange shorts falling off a cliff while price stays static
$BTC
If I:
- Had a gun to my head.
- Was forced to draw up a narrative for the correlation b/w shorts and price.
- Was dropped on my head as a child.
This is what I would come up with (using a common ratio of decrease in shorts/increase in price).
P.S. - This means nothing.pic.twitter.com/TobVEpHnYP
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No so strange, is due to premium arbitrage and this went very slow
End of conversation
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Difference is that this time the shorts already have significantly decreased vs the other 2 times
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There was no upside on the latest short reduction for some reason
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Because it will happen 11/5
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Only 7%
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- still crafts a chart and post for the clout potential
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You win Twitter today sailor
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That last move actually looks bearish. There was a drop in shorts, but less of a rise compared to the last moves. Vol, OVT, and PVT have also all been declining during that chart. BUT, my bias is Wall St. needs one more good dump to shake out the weak hands.
End of conversation
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