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Why do people look at what the big orders on bitmex are doing? Like, someone just opened an $8m long, what does this mean? How is this information useful? (Genuinely curious)

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SBF

@SBF_FTX

Replying to

@loomdart

Some thoughts: 1) big open order or big position? Different interpretations 2) for big position: do you think it's more likely to be a sign of further buyers, or someone about to get liquidated away?

4:47 AM · Jan 2, 2020Twitter Web App

Replying to

and

Seeing its on mex, something thats about to be liquidated

Replying to

and

1) he said big order, it was one big order that market bought. 2) if he just opened a big position it most likely means nothing but taking out some liquidity and stopping that sell-off for a while. No sign for further buyers for the long term but for short term (an hour a more).

Replying to

and

Whatever it is ,a big short closing or simply a new position, it is 8m bought , and if someone is willing to lose 8 millions ,i think i'll bet a little 100$ and not feel shitty as him if it goes against me !

Replying to

and

BTW , i know a 8m market bough is mostly hedged (i hope it is) and he can close it at any moments ,especially if he is a market maker (We all know it was your 8 m Alameda XD)