From the desk of Louis Sykes @haumicharts
There’s a lot of pain out there.
It’s not just retail. Some of the most sophisticated crypto funds on the planet are blowing up. Lives are getting destroyed.
But here’s a quick reminder: The best trades come when others are forced to exit and are at their lowest points.
Is it a nice way to make a living?
No. But you have to deal with it. Otherwise, you end up being on the wrong side.
The ETF providers in their infinite wisdom seem to be feeding on this sentiment, with the first short Bitcoin ETF being launched in the US this week. This feels awfully reminiscent of October, when the first Bitcoin futures ETF was launched.
Weeks after, the market put in its last top.