by Ben Lilly A Cobwebbed Wallet Got Dusted Off Monday was a reset. It was needed in order to set the table for a move higher. In the days leading up to the wild swing on Monday, rates for margin positions were getting ludicrous. Traders were paying 6% per day (in a few exchanges) to borrow usd. This caused rational to close their positions. The result was a cascade of selling... BTC dropped 17.8% from peak to trough.
Old Wallets Woke Up So We Bought
Old Wallets Woke Up So We Bought
Old Wallets Woke Up So We Bought
by Ben Lilly A Cobwebbed Wallet Got Dusted Off Monday was a reset. It was needed in order to set the table for a move higher. In the days leading up to the wild swing on Monday, rates for margin positions were getting ludicrous. Traders were paying 6% per day (in a few exchanges) to borrow usd. This caused rational to close their positions. The result was a cascade of selling... BTC dropped 17.8% from peak to trough.